Six Tips to Crafting a Loan Officer Recruiting Campaign
Jim McGrath
Talent Search Advocate | Relationship & Business Development Influencer | Partner to help drive new business and attract more opportunities.
Recruiting loan officers is a challenging endeavor that requires tremendous effort and patience from sales leaders.
Building relationships with potential candidates over time is crucial to attracting talent. While there may be times when you find the right candidate quickly, cultivating a long-term relationship requires consistent effort.?
Unfortunately, sales leaders often fall short here. They rely on quick phone calls to gauge interest in a job. However, this approach is ineffective in developing relationships that can lead to hiring the best candidates.
This is how an A-typical recruiting call sounds ...
Hi prospect, I am a sales manager with (company name), and you have a good background. Are you interested in making a move? No. Do you know anyone who might be...? No.
Guess what? The prospect never hears from that sales leader again; if they do, it is months or years later when the recruiter has another opening, and they run across their name again.
Although this approach is all too familiar, it is terribly inefficient and provides limits, if any, results.
The candidates the sales leader generates are the people ready to move today, and the likelihood that top prospects are looking to move today is exceptionally unusual.
Hiring managers need their recruiting campaign to capture those top prospects when they are ready to move ... and who knows when that will be? When they are ready to move, who will they call?
Without a consistent, effective recruiting campaign, the answer to the last question is that of one sales manager who has consistently and tenaciously built new relationships every day and continually makes those recruiting calls.
Unfortunately, many companies erroneously believe their reputation, visibility, or size will sufficiently attract the top talent they need. Not true.
A successful recruiting campaign is an opportunity to showcase your company's strengths and attract top talent. By positioning yourself strategically and staying top-of-mind, you can help candidates make positive moves toward your organization and build a team that complements their skills and experience.
Remember, it's all about the YOU-Factor and the unique value you can offer a candidate to create a winning partnership.
If you are planning to create a successful recruitment campaign, here are some helpful tips that you should keep in mind:
Tip One: Loan officers who consistently produce top results always keep an eye open for new business opportunities. They may consider switching employers if problems arise at their current workplace that affect their business. Therefore, it's best to make recruiting a continuous activity. Stay aware of the latest industry news and trends, and make recruiting an everyday priority.
Tip Two: Always be on the lookout for great talent by creating a continuously evolving recruitment strategy. With a well-crafted plan and clear objectives, you can attract the best candidates and achieve your desired outcomes.
Tip Three: Create the Ideal Candidate Profile. This is not just a job description. It is essential to clearly define the type of candidate you are looking for, including their skills, experience, and values. By doing so, you can avoid leaving your hiring decisions to chance and make more objective decisions based on the defined criteria.
Having a clear Ideal Candidate Profile also allows you to distance yourself from the emotions involved in the interview process and focus on making the best hiring choice.
Tip Four: ?Monitor your competitors' ads to learn how they attract top talent. With this knowledge, create ads that outshine your competition and draw the best candidates to your organization.
Tip Five: When advertising for Loan Officers, it's essential to consider all available media options. This includes social media platforms, full-color industry publication inserts and recruiting brochures, classifieds in local business journals, a 'Join Our Team' page on your website, and industry-related websites.
For newbies, you can have a university 'career' day, participate in job/career fairs, use internet ‘New Grads’ job postings, and maybe even try local radio ads. Remember to explore all possibilities to reach the right candidates and find the best fit for your team.
When recruiting, it's essential to use multiple advertising mediums to attract top talent. Building a recruiting "web" with various branches is vital.
Tip Six: Do not assume that experienced loan officers have the right skills and abilities to bring in business immediately.
When devising your recruitment strategy, incorporate coaching, training, and support during your new hire orientation. Recruiting and hiring loan officers is an ongoing process requiring more than a one-interview approach.
A consistent plan that incorporates staff development will improve recruitment and retention outcomes.
When it comes to recruiting, you have two options. The first option is to approach the process in an ad-hoc manner, without any clear plan or strategy, hoping to cover all aspects with little direction.
The second option is to set aside a dedicated amount of time to establish a clear and well-defined process that will guide you through the recruitment process in a structured and effective manner. By following a working process, you can ensure that you address all necessary aspects and find the best possible candidate for the job.
Attracting Talent
Acquiring and engaging the best loan officer is a complex process that involves several stages of screening, interviewing, and evaluating applicants. Sales leaders must invest significant time, resources, and expertise to identify and convince the most qualified and suitable individuals to join their teams.
This requires a strategic and proactive approach that considers market trends, competition, employer brand, and candidate experience. Despite the challenges, hiring top talent is crucial for the success and growth of any organization. It can provide long-term benefits regarding productivity, innovation, and culture.
Enroll in our advanced Loan Officer Recruiting Campaign Digital Learning Course to learn how to craft a Recruiting Campaign to attract and hire more loan officers in a hot market.
Happy Headhunting!
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