A typical mortgage adviser is in their late 40s to mid-50s, so inevitably, many of those at the upper end of this age range will be starting to think about retirement sooner or later.
It’s therefore really important that mortgage brokers work to make sure there is a steady, reliable pipeline of talent who can take on these roles in the future.
But how and where do you start?
Suitable candidates won’t just appear at your door. You need to get out there and be proactive, getting your name in front of people who might be interested or capable of carrying out the role effectively.
You can do this by engaging with colleges and universities in your area, and offering work placements, internships and guest lectures. At the same time, you could participate in and perhaps sponsor career fairs.
These approaches help you become visible to potential recruits who may not have previously considered the mortgage sector as a good career option.
By engaging with future talent face-to-face, you can showcase the dynamic nature of the job, highlight the opportunities for personal development, and debunk myths that put people off entering the industry.
Learn more: The Recruitment Process Infographic
You don’t have to depend on traditional methods of promoting job vacancies, such as using a recruitment agency or posting ads on jobs websites.
Instead, you could use your social media channels to share vacancies with people in your area.
While traditional methods can often produce good candidates, it can also be expensive and time-consuming. By contrast, using social media can be quick, affordable and allows you to capitalise on any existing brand equity you may have already built up through the likes of X and LinkedIn.
As a result, it could be hugely effective in getting through to the people you’re seeking to attract.
Learn more: How social media can help scale up your business
Learn more: Job Advert LinkedIn - Cheat Sheet
Not all school and college leavers will seek to go to university, and many of these people could be hugely capable mortgage advisers of the future.
It could therefore well be worth showcasing apprenticeships as a viable alternative to higher education, where participants can gain professional qualifications and get on-the-job training at the same time.
This approach allows you to cast your net much wider as you seek suitable candidates for advisory roles and appeal to a far more diverse group of people.
At the same time, it creates opportunities for talented individuals who are looking for an immediate entry point into a rewarding, fulfilling career, without racking up costly student debts.
Learn more: Podcast #76 - Recruiting and Developing Talent
At first glance, the mortgage industry might seem fairly dry and uninspiring to many jobseekers, but that’s often because it doesn’t actively challenge this perception.
Brokers should be promoting the benefits of working in the sector, such as the reward and satisfaction that comes with building client relationships and helping people achieve their deeply-held ambitions.
You can do this firstly by making sure your job advert is clear, informative and accurate.
Meanwhile, you can share inspiring stories of successful young mortgage advisers on your website and social media channels, highlighting their expertise, contributions to the community and feelings about the work they do.
This approach helps give people a taste of what working in the mortgage industry is really like, and feel excited about the opportunities it presents.
Learn more: Attracting Employees - Cheat Sheet
Talented people are looking for more than a competitive salary. They also want the chance to develop their skills and career, and to understand at the outset what professional development opportunities are open to them.
You can attract these individuals by offering these chances to progress and broaden their skills base, and making it known at the outset in your job advertisement.
This paints a picture of a business that cares about its employees and invests in them - and that can be very appealing for jobseekers.
You can support this by also making it known to existing employees that you are committed to professional development and happy to speak to them about where they want to go in their career.
Furthermore, you could assign mentors to members of staff throughout your business, so they can work closely with them to develop their knowledge and skills, and encourage them to think about what they want and expect from you.
Learn more: Podcast #90 - Broker Talks: Training and Development
Many people now demand and expect a level of flexibility from their employer, so they can accommodate outside responsibilities such as childcare and enjoy a healthy work-life balance.
If you don’t offer opportunities to work flexibly, perhaps by letting people work from home or pick their preferred working hours, another business will, and they might instantly become more appealing to jobseekers than yours.
So be flexible wherever possible, so you can firmly establish yourself as an attractive option to talented people.
Learn more: Making Flexible Working Work For Your Business
Learn more: Why It's Important To Review Your Business Continuity Plan
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