I have talked to many of my peers over the past few years, as they looked at the mortgage or real estate industry as a possible career switch. These conversations almost always have involved some intimidation level about this business. It is a foreign concept to many, and the term ‘mortgage’ itself strikes fear to many, particularly those who were affected in some way by the market crash of 2008. Even I had some serious trepidation about starting my career here at Homestead Mortgage in 2013, but it was the best decision I could have made.
There are so many opportunities and benefits in being a part of this field, and I hope to share some of those thoughts. Micah Solomon wrote a piece for Forbes in 2016, about what my generation is looking for in a career. Here are some of the many ways that the mortgage industry can meet those needs with perfection.
1. They want to share responsibility–so, find ways to let them.
As Mr. Solomon wrote, individual empowerment is a huge motivation for this generation’s workforce. They want to be put in a place to make a difference, for themselves and their company. Giving employees some higher-level responsibilities can go a long way towards making them feel fulfilled in their career. The mortgage industry sees that on a constant basis. Across all levels of this business, from loan officers to processors, underwriters to closers, individuals are directly tasked with parts of the transaction that are integral to its success. Employers are empowered to perform their jobs, or even go above and beyond to meet the needs of the company and their clients. You really get a chance to make a difference.
2. Support their desire for work/life balance.
This is where this industry can really thrive – There are so many roles and opportunities within this business that your personal life never needs to take a back seat to success. As a loan originator, I am able to make my own schedule and be in charge of my own business. While this occasionally will call for a late night or weekend appointments, it also allows for catching my nephew’s school play, or meeting a friend for an overdue lunch. Meanwhile, our operations staff practically never has to see the office on a Saturday, as “Banker’s Hours” can have a positive meaning for those who work within them. Additionally, with technology ever improving, the ability to work remotely has grown as well, and many organizations are able to accommodate an off-site workforce if the right employee needs that. Depending on what your needs are, odds are you can find a match for them within this business.
3. Let them work for an ethical organization–by being one.
This is what has made me love this career so much. While I have only worked for one company in my time, Homestead Mortgage, we originate loans with many, and have seen how great this business can be. We really get to make a huge difference in people’s lives and be an upstanding part of the community, and the partners we do business with have made that a priority. We only originate quality financing solutions with a verified and documented ability to re-pay. There are various grants and programs that are giving people a chance to buy that never could. There are those who are giving back immensely to their communities, and there is a real opportunity to be a part of it all.
4. Yes, they want feedback. So, give it to them.
While there is a perception that millennials need accolades, those I know are higher in need of feedback. If a job is being performed well, let them know. If there’s need for improvement, that is welcomed too. Being a transactional business, there is always room for growth, efficiencies, and accolades. Across the industry, there are companies that are devoting efforts to training and education for their people, and giving the support needed to young people in the industry.
If you have any questions about this topic, please reach out to Brendan Beatty, YMPA Board Member, via email: email@example.com.