It’s critical that mortgage execs and employees use their PTO to recharge
August 29, 2024 –DENVER, Colo. – In its August Insights Report, STRATMOR Group, a leading mortgage advisory and consulting firm, addresses the often overlooked yet critical role that rest and recovery play on success in any business, including in the mortgage industry.
In her article, “Relax and Unwind: Why Taking Time Off is Vital to Long-Term Sustainability,” CEO and Senior Partner Lisa Springer takes inspiration from the American athletes who competed in the 2024 Paris Olympics to highlight the importance of a holistic approach to well-being for mortgage professionals.
“Just as Olympic athletes prioritize rest and recovery to maintain peak performance, we must do the same,” Springer says. “Taking time off is not just a luxury; it’s a strategic investment in your personal and professional well-being.”
Drawing parallels with the strategies employed by Olympic champions, Springer identifies key factors contributing to their success:
- Passion: The driving force behind dedication and excellence.
- Focus: Essential for achieving high-level results.
- Belief: The power of visualization in turning goals into reality.
- Mental and Physical Sharpness: Maintaining peak performance through a holistic approach.
- Fundamentals: Mastering the basics for sustainable success.
Springer underscores the importance of rest and relaxation in fostering creativity, productivity and positive relationships. She points out that paid time off (PTO) often leads to improved focus, clarity and job satisfaction, all of which are crucial for navigating today’s challenging mortgage environment.
Springer also addresses the culture of overwork prevalent in the U.S. and urges leaders to set a positive example by truly disconnecting during vacations. By doing so, they can encourage their teams to do the same.
For its part, STRATMOR Group is committed to promoting a healthy work-life balance for its employees. By prioritizing a combination of hard work and well-deserved rest, Springer says, mortgage leaders can achieve sustained success for their teams.
In a second article in this month’s report, STRATMOR Customer Experience Director Mike Seminari emphasizes the importance of addressing customer experience issues proactively.
In his article, “Overcome Mortgage Miscues Like an Olympic Champion,” Seminari points out that while loan officers often receive high ratings from borrowers, the overall loan process may still be fraught with errors that can damage customer satisfaction and reduce the likelihood of repeat business. “We need to accept the fact that no matter how closely we manage the process, there will be occasional mistakes,” he writes.
Seminari suggests several strategies to fix this, starting with acknowledging imperfection. His article draws similarities between Olympic athletes who face and overcome unexpected challenges and the need for lenders and loan officers to quickly address their mistakes to avoid losing future referral opportunities.
Click here to read the August 2024 edition of STRATMOR’s Insights Report.
About STRATMOR Group
STRATMOR Group is a leading mortgage industry advisory firm that provides a range of programs and services for senior industry executives. STRATMOR serves more than 250 companies annually, recommending strategies that increase growth and improve profitability in sales, marketing, technology, operations and mergers and acquisitions. The company leverages comprehensive, proprietary data and key insights gained through extensive experience in the mortgage industry. STRATMOR is well known for its financial models and its collaboration with the Mortgage Bankers Association in the PGR: MBA and STRATMOR Peer Group Roundtables Program. Find out more about STRATMOR on its website at www.stratmorgroup.com.