The Battle for Brokers - May 2024

Welcome to the May 2024 Edition of NRG Insights!

In this month's issue, I share how you can attract top talent in a job market that is really beginning to heat up.?

My featured blog, "The Battle for Brokers – How Does Your Proposition Stand Up?", explains how brokerages can create attractive job propositions for the most sought after candidates.?

This month in my featured podcast episode, Marcus Nanson CeMAP chats with Andrea Glasgow on the NRG Insights podcast "Breaking Mortgage Industry Barriers."

I’m also excited to introduce you to Katrina Fox in our 'Get to Know the Team' segment. Learn about her role at NRG and read some of her answers to our entertaining questions.?

For those actively seeking new opportunities or looking to add talented professionals to your team, be sure to check out the links provided at the end of the newsletter. And, don't forget to download our exclusive UK Mortgage Broker Salary Guide .

Let’s dive into the newsletter…

The Battle for Brokers – how does your proposition stand up?

This is a condensed version of the full blog , which is available now on the NRG Resourcing website.?

In today’s mortgage industry, attracting and retaining top-performing mortgage brokers is more challenging than ever.?

With an economic recovery and tighter regulations, the competition for skilled brokers, both in-house and self-employed, has intensified.

The aftermath of the 2008 economic crash and subsequent regulatory changes have created a market where experienced brokers are in high demand, yet supply remains limited.?

To thrive, firms must strategically position themselves to attract this talent, here are some of our top tips for attracting them…

Strategies for Attracting Top Brokers

To compete effectively, brokerages must focus on several key areas:

• Competitive Financial Incentives: Compensation packages need to be attractive, often exceeding industry standards to capture attention.
• Support for Self-Employed Brokers: Providing strong incentives and aligning their goals with the company’s mission is crucial.
• Operational Support: Offering robust administrative and marketing support frees brokers to concentrate on what they do best—closing deals.
• Flexible Working Conditions: Adaptability in work arrangements is increasingly important for brokers who value autonomy and work-life balance.
• Training and Career Development: Continuous learning and clear advancement paths are essential to retain ambitious brokers.
• Transparent Fees for Self-Employed Brokers: Clarity about network fees and other costs is crucial to maintain trust and satisfaction.

More?

In a market still rebounding, mortgage firms need to excel in these areas to draw and keep the best brokers.?

By enhancing compensation, support systems, flexibility, career development, and transparency, companies can become preferred employers in a fiercely competitive field.

For a much deeper dive into these strategies, check out the full blog post or to find out how we can help you create an irresistible proposition, contact me today.?

Have you got yours yet…?

Are you on track with your earnings as a mortgage broker? Or are you curious about the right compensation for your team?

I’m excited to offer you "The UK Mortgage Broker Salary Guide ." This guide provides detailed insights into the earning potential of mortgage brokers across the UK, from entry-level to top-tier positions.

Don't miss this opportunity to benchmark your or your team's salary against industry standards.

?? Get Your Copy of The UK Mortgage Broker Salary Guide Here and start aligning your career or business goals with real-world data today!

Breaking Mortgage Industry Barriers with Andrea Glasgow

I'm thrilled to feature a podcast that's all about breaking barriers and climbing the ladder in the mortgage industry.?

Marcus Nanson sits down with Andrea Glasgow, nominated as an elite woman in the industry.?

From her beginnings as a cashier to becoming a key leader at Hampshire Trust Bank, Andrea's story is packed with practical tips for anyone aiming to succeed in a competitive, male-dominated field.

Watch the full podcast here, or listen on Spotify.?

Get To Know - Katrina Fox

Katrina is the Operations Manager at NRG Resourcing, and with 8 years of experience working alongside recruitment agencies and recruiters, she brings a wealth of skills and knowledge to our team.?

In order to help you get to know Katrina a little better, we asked her a few questions. Here they are:?

What would your warning label say if every person came with one?

Laughs easily and at inappropriate times?

Approach serious subjects with caution

What's the most unusual or interesting job you've ever had?

My role here at NRG ticks both of those boxes for me, my role is ever changing, which mean I have the chance to learn something new and figure things out everyday. It’s always interesting… occasionally unusual.

When I’m not at NRG, I run a small Vegan home bakery with my best friend, which keeps my creative side happy.

If you had to have one, what would be your spirit animal? And why??

I’d love to say my spirit animal was a cat, but I’m not that graceful. I’d probably be a wombat, herbivore, pretty shy by nature likes to keep to themselves, also I waddle when I try to run (which isn’t very often)

Another chance...

?? Get Your Copy of The UK Mortgage Broker Salary Guide Here and start aligning your career or business goals with real-world data today!

What Next?

Thank you for reading! I’ll be back soon with the next edition.?

Don’t forget to subscribe, and if you’re seeking a new role , or are searching for new talent , please click on the appropriate link to book a call with me today.