Job shadowing, mentor pairings, and live and virtual training sessions are just a few of the key employee development strategies employed by Top Mortgage Workplaces. Many companies emphasize the importance of training from day one: One company has implemented a mortgage broker course to train all new hires, while several others noted that new hires are paired mentors almost immediately.
“On-the-job training is ongoing for employees, with support from their managers and various training resources,” said one organization, which uses LinkedIn Learning as an e-learning tool, as well as offering a leadership development program, a personal leadership program and other programs geared at developing employees’ skills. Another company “regularly offer[s] courses using external consultants. These include leadership courses, Excel/Word training, time management and more.”
Some organizations have created their own in-house training and education programs to give employees easy access to the tools and resources needed to advance their careers. One Top Mortgage Workplace outlined how its nine-tier training program has elevated the quality of its brokers: “Associates have nine tiers of in-depth mortgage industry learning that they work through to become a senior broker. Once they reach the level of senior broker, they then have the opportunity to mentor a team of their own. Each tier focuses on a specific aspect of the mortgage industry and breaks down the whole process of completing a deal with a client from beginning to end. The success that we have seen from our tier system has demonstrated that not only are we training, coaching and motivating those new to the industry, but demonstrating the right behaviours that will take them and our company to the next level.”
Other companies without in-house training offer reimbursements to employees for educational expenses. “We offer $2,500 per employee per year for external courses, webinars, seminars or conferences,” said one Top Mortgage Workplace, while another reimburses 100% of the cost of any education or training courses taken by an employee.
How often does your organization conduct performance reviews?
Once a year: 43%
Twice a year: 20%
Quarterly: 23%
My organization does not perform reviews: 14%
Does your organization offer training at onboarding?
Yes: 97%
No: 3%
Does your organization offer any continuing education programs or continuing education reimbursement?
Yes: 76%
No: 24%
Does your organization offer work path/career path plans or programs?
Yes: 65%
No: 35%
How often does your organization update technology?
More than once a year: 40%
Yearly: 20%
Every two or three years: 9%
Others: 31%
Does your company offer marketing support?
Yes: 77%
No: 23%
.JPG)
