Your top producers make you look good — and make you a lot of money — but if you don’t recognize and reward them for it, you run the risk of losing your most valuable resource. To secure your place in the future of the mortgage industry, give your top producers their due.
The first step in securing top talent is identifying the top producers within your company. There are many ways to identify a top producer, but the most surefire method is via work ethic. They’re the ones who volunteer for optional assignments, put in extra work when necessary, and consistently deliver exceptional results.
A top producer is always physically and mentally present in meetings. They make meaningful contributions in both their day-to-day work and brainstorming sessions — and they solve the problems that stump everyone else. Top producers go out of their way to add value to your company.
Once you know your top producers, you can help them optimize their efforts. The best way to do this is to acknowledge and support their professional activity. Start with fair compensation and radical financial transparency. Offering your top producers the pay they deserve — and accurate insight into the financial health of your business — makes them an integral, and knowledgeable, part of your core team. Top producers have too many opportunities to waste their time with a corporate partner who obfuscates its finances and doesn’t pay in accordance with a top performer’s contribution.
Beyond that, top producers thrive with internal support and resources. If they have to fight for what they need to do their best work, they’re not likely to stick around. Finally, be radically transparent with your top producers. Top performers do their best work when they have access to all the information.
It’s not hard to see why top producers are the future of the mortgage industry. Whether they’re driven to succeed or simply love the business, a top producer gives their all to everything they do. And they remain critical to the success of their corporate partners in today’s challenging market and in all future endeavors. Top producers thrive under pressure, and they’re your biggest asset in any market. Give them the recognition and compensation they deserve — or lose them to your competition.