Burnout isn’t just a buzzword. Recent research by McKinsey & Co. indicates that burnout continues to be a persistent threat to productivity for managers and employees alike. The good news? There are steps you can take to prevent burnout and keep your sales team motivated and primed for profit. Here’s what works: • Take microbreaks […]
How to Beat Burnout and Boost Production Read More »
Rising interest rates, limited housing inventory and the skyrocketing price of consumer goods have made the last half of 2022 an uphill climb for many lenders and LOs. While mortgage managers struggle to generate loan demand in a more volatile marketplace, I believe that the companies with solid hiring and employee retention strategies in
Does Your Lender Have a Winning Retention Strategy in Place? Read More »
A senior manager recently confided he is considering training to keep his sales team busy now that volume has dropped since the refi boom. He also revealed that many of his peers share a similar concern: If originators aren’t kept busy, they will jump ship for another company. In mortgage lending, the prevailing wisdom
Is Sales Training Only for the Slow Times? Read More »
Like many people who are fans of Warren Buffett’s annual shareholder’s report, I also admire what Jeff Bezos had to say in his annual report to stockholders. This year, the Amazon founder discussed the challenge every company has in meeting customers’ ever-rising expectations. Bezos claims that “it is the nature of human beings to have
The Impact of High Standards on Recruiting and Retention Read More »
In the last few weeks, several executives lamented losing some of their salespeople to competitors. They were upset because the originators had been courted with outrageous sums of money — an unsustainable strategy for any company’s long-term success. They wondered why their former employees did not recognize the risk and opted for short-term gains with
How to Prevent Poaching of Your Originators Read More »
In this current environment, many mortgage companies are continuing to experience high turnover. Managers believe that the primary reason originators leave is for more money. While this may be true for a small percentage, research shows that the majority of originators who change companies (80-90 percent) do so for reasons other than money. Studies show
The Real Reasons Originators Leave Read More »
Recognition is a key component of retaining your originators. In today’s market where every company is looking for salespeople, it is amazing how few managers don’t bother to say “thank you” to their employees and especially to their top producers. During consulting engagements, I often hear top originators lament that they are made to feel
The Most Powerful Form of Recognition Read More »
In my consulting practice, I find that one of the most prevalent sales management myths is that money is the primary motivator for originators. If so, then why are sales executives always tweaking sales compensation plans with the hope that it will change their sales results? The reason is because it is easy to do
Do You Know the Number 1 Myth in Sales Management? Read More »
In this current environment, many mortgage companies are continuing to experience high turnover. Managers believe that the primary reason originators leave is for more money. While this may be true for a small percentage, research shows that the majority of originators who change companies (80-90 percent) do so for reasons other than money. Studies show
The Real Reasons Originators Leave Read More »
In 2015, the retention of top producers (the top 10% of a sales force) will once again be a critical issue for many sales organizations. Losing top performers has a negative impact on a company that reaches far beyond lower volume. A top performer’s presence in a market is not easily or quickly replaced. Studies
Start the New Year Off Right: How to Keep Your Top Producers Read More »
