Well-known author Malcolm Gladwell, best known perhaps for his 2000
best-seller,
The Tipping Point, has written about scientific research
that indicates that positive or negative initial impressions are formed during
the hiring process in just two-seconds. Moreover, these initial impressions
correlate highly with the decision to hire or not to hire a candidate. According
to Gladwell’s research, these impressions are based almost entirely on whether
the candidate “feels right,” a basic, gut-level assessment of the candidate. But
Gladwell qualifies this snap-judgment as an instinctive response to the question
“is this person a friend or a foe.” I believe that in the recruitment of
top-producing mortgage originators the same dynamic is at play—only in reverse.
Top originators are constantly in demand by firms who would like to recruit them
away from their current employers. I believe these top originators make
snap-judgments within the first few minutes of a recruitment meeting relative to
managers and the firms they represent. These judgments or assessments are based
on perceptions of value. Will this person recruiting me and his/her firm
represent an overall positive or negative value to my business?
Let me give you a case in point. I was recently on the phone with one of our
lender client’s executives discussing the fact that one of his managers was
struggling to recruit successful producers in his local market. Having worked
with this manager and attempted to place candidates with him, I knew that he had
a reputation for doing little to support his producers. The executive asked me
to define the problem as I saw at. Here is what I said in an e-mail
response:
When a candidate meets with a manager, regardless of the manger’s title,
the candidate’s bottom line perception is centered on value. What I mean is that
key producer candidates are going to question whether or not they would get
sufficient value from the compensation the manager makes on the candidate’s
personal production.
The candidate is asking themselves the following questions:
►Are they adding value to my business?
►Are they inspiring?
►Do they lead or do they manage?
►Do we share the same values?
►Do they shield me from feeling pain?
►Do they have my best interest in mind or do they have their own agenda?
►If candidates don’t perceive quickly that the answer is “Yes” to these
questions, they are going to go elsewhere and not feel like building a
relationship with you is worth their time.
The exchange I had with this client became the basis of a new focus by this
lender. The goal being to ensure that their branch managers, who are involved in
the recruitment of originators, are focused on communicating value during the
recruitment process and throughout their relationships.
Here are the most important points to keep in mind regarding
first-impressions in mortgage producer recruitment:
1) First impressions are VITAL. The first moments of an
initial recruitment meeting creates an impression that is difficult to change.
All words you use and actions you take are being processed and a valuation
made.
2) First impressions are a SKILL. You can get better at
creating positive first-impressions if you concentrate on it and practice—both
during role-play exercises and in live recruitment scenarios. Your goal is to
convince the prospect that the value they gain from you and your firm is greater
than that they are experiencing currently, and also what they want to do with
their business in the future can be better accomplished—with tangible
examples.
3) It’s all about the PROSPECT. If you find yourself doing
most of the talking or discussing your interests, family or career, then you are
not listening and you are suggesting that your focus is on your needs. Working
for a self-focused manager is not valued highly by top producers.
4) Prospect names and histories are IMPORTANT. It is
imperative to know who you are talking to. You must know their history and how
to pronounce their name to demonstrate you are genuinely interested in them. Be
prepared, it suggests that you value their time and are serious about
understanding what drives them.
5) Focus on what is POSITIVE. Never criticize people or your
competition. Doing so makes you appear insecure and small. Focus on what is
great about your firm. Top prospects value organizations with leaders that have
vision and integrity, not firms with leaders focused on what is wrong with
others.
6) You must be AUTHENTIC. Never attempt to be something or
someone you are not. Prospects, particularly top producers, are excellent at
reading people and will see right through any efforts that are not genuine.
Producers and managers operating in a local mortgage market cannot get away with
pretending to be anything but what they are. There are simply too many people
around that know your true value as a manager.
7) Be prepared to provide EXAMPLES. Top producers value
“show me, don’t tell me” folks. When describing marketing support, or operations
capabilities, or anything else relevant to the prospect’s business should they
choose to join your firm, be prepared to back up claims and assertions with
documents, data, policies,
testimonials and
contacts who can back it up.
By focusing managers on delivering value to producers, lenders can expect
better morale, better performance and better results from the recruiting
process. In the two seconds to two minutes that a top originator prospect takes
to form an initial impression of a manager, a firm and an opportunity, it is
essential that you immediately and clearly demonstrate value.
Eric Petersen is a managing partner at Hammerhouse LLC, an expanding national
recruiting and strategic growth firm for the financial services industry with
mortgage sales and leadership placement at its core. He may be reached by phone
at (949) 525-9408 or e-mail eric.petersen@teamhammerhouse.com.
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