40% of Lendi Group new brokers in last 12 months are women
Diversity is key when it comes to broker recruitment says Lendi Group recruitment marketing manager Trent Kelly.
Kelly (pictured above), a passionate advocate for diversity in business, said diverse teams were not only crucial from a corporate social responsibility perspective, but they also made commercial sense.
“Australia is made up of a diverse population with varied backgrounds and experiences, and it's important for people to be able to see themselves represented in business so they know that they can achieve similar things if they so desire,” Kelly said.
He said buying a home was probably the most significant purchase people made, and the fact that the market share of home loans being written by brokers rather than banks was at an all-time high, meant it made sense to have a diverse broker network.
Lendi Group encourages broker diversity
Kelly said broker diversity helped to break down social and language barriers, open up new market segments, and allow customers to choose a broker they’re comfortable transacting with – benefitting the broker sales process and the customer’s experience.
However, Kelly admitted the industry had a long way to go in terms of female inclusion.
“Unfortunately, female representation in the mortgage industry is at its lowest ever level of 24%, and to overturn this, I think it’s important for male professionals to actively champion for gender diversity,” Kelly said.
“Over the past 12 months, 40% of new brokers joining our business are women – well above industry average.”
Lendi Group wants more female brokers
Kelly said there were a number of ways the Lendi Group had achieved better female representation in the workplace. They included removing systemic barriers of entry for women, particularly mothers, by creating a proposition that included flexible working arrangements.
Other ways Lendi Group is lifting the number of women in its workplace includes showcasing their successful female brokers to show other women that broking is a viable career path; spearheading engagement and participation initiatives such as International Women’s Day and conducting broker information sessions for prospective candidates where they can hear from successful female brokers.
Lendi Group recruits culturally diverse brokers
“Additionally, 36% of our franchisees are born overseas, with many more being second-generation Australians,” Kelly said.
“I have also profiled several of our franchisees from culturally and linguistically diverse backgrounds to show other people, particularly migrants, what can be achieved as a franchisee with Aussie.”
Kelly joined the Lendi Group in October 2021 with a background primarily in marketing in the hospitality sector.
“After 18 months of navigating lockdowns and trading restrictions that had impacted my income and limited my development prospects, I decided to take on a new challenge, and here we are,” he said.
“In my role as recruitment marketing manager, I’m responsible for developing our network growth strategy, articulating our broker value propositions in-market, and driving broker candidate enquiry for our Aussie and Lendi brands.”
Supporting brokers is vital for their success
“With factors like rising interest rates, market uncertainty, and cost of living pressures, more and more people are being compelled to seek out mortgage brokers for their support and expertise – with over 70% home loans now written by a broker,” Kelly said.
In October, Lendi Group co-founder and CEO David Hyman noted that this higher rate environment poses significant affordability challenges, especially for the younger generation and those earning average wages.
Kelly said the increasingly important role brokers played in the loan process highlighted the importance of recruitment.
“We need an industry that possesses the size, skills, and passion required to deliver value to the customer base. It also highlights the viability of the industry for prospective brokers.”
Kelly said for aggregators such as Lendi Group, a thriving broker network allowed the business to realise revenue targets, and ultimately reinvest in helping brokers grow their businesses.
“Despite the increasing broker market share, latest MFAA data indicates that broker activity has declined, with 22% of the industry not settling a loan in the six months from October 2022 to March 2023. This makes strategic recruitment a core consideration.
“We know that success in broking requires commitment and dedication, particularly for self-employed brokers, which is why we strategically recruit and partner with brokers who are fully committed to the profession, and ready to build a successful career/thriving business – i.e. we do not recruit part-time brokers or existing business owners looking to add broking as a revenue stream.”
Lendi Group aims to offer broker choice
Kelly said as Lendi Group offered a multi-brand, multi-channel model, this meant both established and prospective brokers had choice.
“We are able to take into account a candidate’s goals, requirements, skills and experience, and strategically place them in the channel which will best position them for success … whether that be as a salaried broker, mobile broker, home-based broker, store broker, or even a store owner and franchisee,” Kelly said.
“Our sophisticated Pathways Program means that brokers are able to move into other channels in the business based on performance, or as their goals and requirements over time.
“We believe our proposition is unmatched anywhere in market – and our brokers can leverage our reputable brands, industry-leading tech, pioneering processes, and renowned training and support to achieve success in broking.”
Kelly’s role at Lendi Group
When it comes to his own role in the business, Kelly’s working life is diverse.
“I work closely with our channel heads and sales leaders to determine their recruitment goals and develop recruitment marketing strategies to source the appropriate candidates,” Kelly said.
Kelly reports to and works closely with Matthew Whyte, general manager, distribution growth, to develop and execute Lendi Group’s network growth strategy.
“I develop communication and engagement strategies for our internal broker network to highlight our Pathways Program and encourage performance and development and work closely with our franchise and broker network to elevate their success stories in media,” Kelly said.
“I also work closely with franchisees upon store opening to produce creative content and comms to amplify their launch and have worked closely with some of our franchisees on more targeted, grassroots recruitment marketing strategies.”
Kelly also works with the senior manager broker recruitment to enhance the candidate experience and enable brokers to be ready to start their role, and also with high-performing brokers and franchisees on industry award submissions.
Earlier this year Lendi Group revealed data that showed a very high proportion of mortgage holders – 48% – are not refinancing and choosing instead to wait and see what the market does, despite the fact savings can be made by shopping around.
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