"It goes back to the brand that we built"
The mortgage industry is unanimous that brokers and lenders should brace for tough times ahead. Competition will get more intense, margins will shrink, and companies will have to let go of some employees. But a silver lining during these uncertain times comes in the form of companies who go above and beyond for their people.
One of those companies is Angel Oak Solutions. In a recent interview with MPA, Tom Hutchens, executive vice president of production, revealed Angel Oak’s secret recipe for bringing in the right people and creating an inclusive and diverse workplace.
“I wouldn’t say that it’s any secret sauce. To me, it goes back to the brand of Angel Oak that we built,” Hutchens told MPA. “We built a very successful brand. We have a reputation, a very good reputation as not only being a great place to work, but just a great company to work with if you’re not actually an employee. So being a leader in our space is simple - a lot of the secret sauce is about networking, friends and family coworkers. We feel like our brand kind of leads to our recruiting efforts and that has really proven to be very successful for us.”
When asked about how they attract new talent and how to retain them, Hutchens said that creating a culture that they want to be a part of is key. Particularly, one that revolves around the American dream.
“First and foremost is that we talk about the mortgage business as more than just kind of a clock inm clock out,” he said. “We are working on something bigger. We are about making the American dream come true for families all over the country. We talk about that, and I think that has really made a difference. Talking to young people about being in a servant camp, having a servant mentality.”
Read more: What makes a great mortgage workplace?
According to Hutchens, Angel Oak hired many people from the service industry in 2020 due to some challenges brought by the pandemic. He added that the company also developed an operations trainee program for young hires. “That is feeding us and building our future. Almost 25% of our current workforce has come through our operations training program. So, every single month, we’re adding new people to the business and the industry. Most of those are young, but the priority is that they have a service mentality,” he said.
In addition to talent acquisition, Hutchens detailed how Angel Oak makes the mortgage industry appealing and inclusive to young people. You can listen to Hutchens’ insights here: What makes a top mortgage employer?
