How Can Mortgage Lenders Cultivate Top Talent?
The mortgage industry, like other industries, is searching for new ways to attract and retain fresh talent.
This article was originally published on MortgageOrb.
The mortgage industry, like other industries, is searching for new ways to attract and retain fresh talent. The challenge is finding qualified people who fit in with the culture of the company and the industry. Today, this can require some creative thinking and hiring methods.
Traditionally, it has been easy for a company’s operational leaders and recruiters to place new hires in a restrictive box, pairing them with the specific roles or only offering opportunities to work with technologies they have interacted with previously. Once in that box, it can be difficult for new employees to break out and discover unknown strengths and interests.
For example, a front-end developer may never consider the transition to a full stack developer simply because they have not had the opportunities to understand that area of the company.
By giving new employees the opportunity to participate in an intensive program to learn the organizational culture as well as its technology, companies can improve their chances of developing a well-rounded employee who can make substantive contributions earlier in their career.
How Immersive Incubator Programs Can Help
An immersive experience, like an incubator, allows participants to receive hands-on experience before settling into their full-time position. The goal is for them to become intimately aware of all aspects of a company while being given the opportunity to chart their course for success.
These experiences enable applicants to better understand the ins and outs of the company, their job requirements and expectations, and the overall company culture. The program can also instill good work habits that new employees can rely on throughout their early careers. By offering an immersive incubator program, companies are also able to ensure that candidates are being placed in positions most suitable to their personality and skill set.
Our recently launched two-month immersive incubator program for IT specialists is primarily for recent graduates of computer science or similar curriculums. The program allows qualified participants to work with all aspects of the technology we use daily.
Throughout the experience – and under the guidance of a seasoned member of the team – participants can understand the reality and speed of the business world. As a result, participants can emerge from this experience with the capability to work in, or collaboratively with, any department, equipped with a comprehensive, end-to-end knowledge of where their work fits in the process.
Along with working on some of the newer industry technologies, participants can also hone their skills in specialized applications, many of which are not always accessible outside of a business environment, such as Python or GitHub. This firsthand experience allows participants to better understand the reality of working with these applications and determine if they want to continue using this technology throughout their careers at the company.
Outside of technical skills and developing proficiency in new technology, an incubator truly immerses the participants in company culture. A challenge to similar programs or internships is that there is simply not enough time to grasp the company culture. With an extended timeline, participants can honestly take in a company’s distinct operation and consider their compatibility with it. Organizational culture is a key element that shapes the work environment, and it is vital that new employees are satisfied and are capable of excelling within the culture.
At the close of the incubator program, participants can determine what roles most interest them. Rather than committing to a specific role on their first day, the incubator puts the decision in their hands. Participants are given ownership of their destiny – being able to determine if the job and the company itself are the right fit for them.
Companies can “develop” new employees who are determined, a good fit and capable of doing the work. By giving employees a more holistic view of a company, recent hires can discover a new interest or niche and grow in a role most fulfilling to their character and skill set, and ultimately, provide optimal value to a company.