TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1294972
M R EP O RT | 39 EXPERT INSIGHT trained more than 4,000 people virtually—from call center staff to loan officers to processors—and have had great results. We've also found that fre- quent communication has been extremely valuable. Early on, we remained transparent with our team members, sharing constant updates and bringing them into our process as we adapted to this challenging time. I've encouraged my team to communicate three times more frequently than usual to ensure that our message comes through. Over-communicating minimizes the potential that team members will fill the void with their own interpretation or assume the worst. Taking care of ourselves and each other has also become im- portant as we've all faced different challenges this year. I'm very proud of the work we've done to launch our Team Member Relief Fund, which provides cash grants to team members experiencing catastrophic and personal hard- ships to assist with the expense of basic life necessities. Mr. Cooper has a long legacy of helping homeowners in their moments of crisis, and now more than ever, it is so important to do the same thing for our team members. M // How can companies develop unique employee benefits to compete in today's market? DOHERTY // In today's very aggressive market, people are making job decisions not only based on a company's response to the current crisis we're facing but also based on the benefits they offer and the culture they have created. Workplace benefits send signals about what a company wants to be and how it wants to motivate its people. I recommend offering perks that are unique to your com- pany's values and mission. At Mr. Cooper Group, we strive to keep the dream of homeownership alive for our customers, and we wanted to be able to help our team members achieve that same dream. As a result, we launched a home loan program to offer our team reduced fees and discount- ed loan pricing for either a new home purchase or a mortgage refinance. We've also rolled out a down payment assistance program that was inspired by our own team members through a companywide culture survey. By aligning benefits with orga- nizational goals, you can offer your team members valuable and unique benefits that result in a greater sense of company pride. M // How can companies create a strong pipeline of candidates? DOHERTY // A lot of resources go into attracting the right candidates, so even if you aren't hiring it's important to make sure you have a strong pipeline. To find the right candidates, first I recommend, developing clear criteria. We've created interview guides based on our core values to help us find the right candi- dates. Understanding what your company's value proposition is and finding a way to clearly communicate that to potential candidates is very important. In order to remain competi- tive, differentiating the benefits that your company can offer is key. We've developed a host of unique benefits including down payment and mortgage assistance, adoption, and family planning assistance, generous vacation time, ongoing education, and more. We consistently evaluate what's important to our employees in order to make sure their needs are being met. M // What are some tips to providing a smooth onboarding process and managing training remotely? DOHERTY // Onboarding new hires in a completely remote way can be a challenge and has been a challenge for many companies, especially at the start of the pandemic. As we work to bridge the digital with the personal, and to find ways of building cama- raderie among team members, there are several things to keep in mind. The small things count: It's important to make sure that new hires receive a comprehensive welcome package, including the necessary technology equipment, passwords, instructions and support. Mr. Cooper Group is working on building a concierge service dedicated to the new hire process, which will ensure that all new team members have dedicated support desk numbers with access to people who can help them. A team member's first days at your company can be very defining. Build in time for training. Moving from the classroom to a virtual training environment can be a challenging task, and companies have had to find new ways to teach team members remotely. Manager "side-by-side" coaching can provide the extra support new team members need, including real time feedback and coaching. Educate leaders. It's incredibly important to make sure leaders can manage in a remote environ- ment. HR can help by equipping managers with more education on how to effectively oversee these teams. Digital learning tools, like Degreed, offer virtual train- ing and resources to help team members deepen their knowledge and expand their skills remotely. "When we think about attracting new talent, we want to offer clear paths for career growth which is especially important for new job seekers." —Kelly Ann Doherty