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The fear in the air is evident. Looking through forums, blogs and magazines, there is a theme within the mortgage broking industry that is one of an unknown future.
Among other things that make it tough to be a broker, the “credit crunch”, banks tightening policies and a royal commission investigating remuneration are catalysing this mentality of fear.
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As a recruiter, I believe this to be an opportunity, and if you’re planning on growing your business (or if you’re a broker that is experiencing limited options), you should see it as one, too. Let me explain why…
Growing broker groups during this time should be investing heavily into their employer brand as this is how the business looks from the perspective of working there. Just like building brand encourages customers and generates leads, building employer brand is the same as it encourages candidates to engage and generates job applications.
At this time of fear, unrest and uncertainty, more individual brokers are assessing options. They want to mitigate the risk and increase their chances of success.
A broker group with a strong employer brand that can offer this could experience rapid growth. Look at how quickly groups like Lendi have grown by changing the normal model and offering a salary and a real tangible lead generation solution. Think of Aussie and how they’ve built a brand that is highly attractive to new entrants. A growing brokerage can build a brand that aligns with the type of broker they are looking for and capitalises on a time when these brokers are more open to a move.
Being greedy at a time others are fearful allows you to take advantage of their pain points and create an opportunity and environment in which they can thrive.
Employer branding comes down to a range of different strategies, channels and content. It involves building and maintaining a presence in the right places to generate pools of talent keen to engage with your business.
If growing the business is part of your plan for the future, there is no better time to start the process, to build the brand and the channels — and make sure when you’re ready to pull the trigger that you have a shortlist of qualified and screened brokers keen to join.
