case studies: mortgage industry
Our Challenge
A top-10 mega-regional bank in the U.S. embraced an aggressive, redefining
growth initiative for its mortgage division. The growth plan presented them
with unique challenges, most importantly the successful hiring and retention
of hundreds of seasoned, self-sourced retail loan originators in just a handful
of strategic markets. Given the size of the markets and their recruiting
goals, our client recognized they were about to embark on a recruitment campaign
that had never been undertaken in the market. They needed assistance from
a specialized third-party partner, a partner dedicated to, and experienced
in, loan officer identification, selection, interview process management
and on-boarding.
Our Approach
For over three years, our team committed to placing 450+ seasoned, self-sourced
loan originators in two geographic markets. The growth goal included
individual contributors, group moves and entire branch moves. In addition,
we assisted in recruiting the appropriate operations staff to support the
increased production. Given the volume of candidates interviewing and the
number of new hires, we partnered with the client to create a cultural transformation
to allow for increased organization efficiency with recruitment and on-boarding.
Our Solution Included:
- Assuming management responsibility for the recruitment process, in partnership with senior leadership, hiring managers, and human resources to ensure maximum efficiency.
- Providing expertise in industry competitor knowledge, highlighting our client’s competitive edge over the value propositions of other players in these markets.
- Proven identification and recruitment strategies designed to locate and attract right-fit loan officers and group opportunities.
- Implementation of A.C.E. (our proprietary on-line candidate tracking software) to provide a real-time dashboard of the entire project that supported our project metrics and recruiting goals.
- Weekly results review meetings with clear objectives designed to discover issues, analyze root causes and identify solutions.
The Results
Increased Revenue
Our team was able to help the client create an efficient recruitment and on-boarding
process, and delivered additional purchase production in excess of two billion
dollars.
We successfully recruited and retained several $100 million+ teams and $50 million+ individual originators, who brought with them marketing agreements, joint ventures, and affinity relationships.
Interview-to-Hire Ratio
Due to our team’s knowledge of competitor lending institutions, weekly communication with hiring managers, and our seasoned team of mortgage recruiters, we achieved a 4 to 1 interview-to-hire ratio. This reduced the time hiring managers had to spend in the recruitment cycle, and helped them hire a large number of better-qualified candidates.