Why Mortgage Pros Leave Companies

June 30 2017

Putting together a solid team of mortgage professionals isn't something that happens overnight. And when one walks out the door, the impact is felt immediately. So what causes them to leave what seems like a perfectly good position? Here's a closer look at three common areas of dissatisfaction.

Lack of Support
Loan officers want to feel that their company has their back. They're looking for:

  • Available offerings -- Do they have the power to offer clients something the competition cannot?
  • Communication -- Do they feel that suggestions and concerns are considered and valued by management?
  • Operational support -- Are they confident that underwriting and processing will be handled responsibly and consistently so they can focus on closing?
  • Technology -- Do they have access to a robust customer relationship management system, mobile applications, social media campaigns and other digital offerings?

Lack of Fulfillment
Research has shown that employees, no matter what industry, want a sense of purpose. The numbers bear this out:

  • Seventy percent of employees say understanding and embracing organizational purpose increases productivity to a great extent. Unfortunately, only 28 percent consider their role at work a source of personal fulfillment.
  • Eighty-nine percent of executives believed strong organizational purpose influences customer loyalty, yet only 46 percent feel their firm has this.
  • Companies that fail to perform with a higher sense of purpose have an average employee engagement score of just 23 percent.

Lack of Benefits
Which perks influence worker satisfaction the most? In a 2015 survey by Glassdoor, employees placed health insurance at the top of the list, followed by 401(k) plans and vacation or paid time off. Without these extras, workplace satisfaction can take a hit.