As older, more experienced LOs hit retirement age and exit the business, mortgage bankers are under increasing pressure to hire and train younger sales professionals. To successfully recruit these up-and-coming workers, managers will need to understand the differences between generations so they can bridge the gap and attract new sales talent.
Here’s what you need to know:
• A large percentage of Gen Zers (62%) and millennials (60%) are actively or passively looking for a new job. Source: Oliver Wyman’s Gen Z Report, 2023.
• Today, Gen Z employees account for only 15% of the workforce in the U.S. and U.K., but that share is expected to grow to 31% by 2031, according to Wyman’s report.
• Gen Z sales candidates have distinctive work preferences and attitudes. For example, 85% favor hybrid or remote work environments while 38% are dissatisfied with lack of clarity around advancement, the report noted.
For additional insights, take a look at Visual Capitalist’s infographic, “Charted: Gen Z Job Attitudes Compared with Other Generations.”