Appraisers, what’s your hiring strategy?
Are you optimistic you can handle your 2022 appraisal volume?
Last week Tampa had its Mardi Gras-like party called Gasparilla. It’s where 1,000s of pirates take over the city. There’s a large boat invasion, parades, tons of beads, libations and fun.
So, after a weekend in full pirate gear, “What does the recruiting pirate say? “RRR” you currently looking for a job?” Okay, pirate humor is weak but hiring is no joke.
High cost of employee churn
It takes a long time to be a good appraiser or reviewer. Losing an employee costs a lot more than just rehiring. The cost of retraining becomes important since the true cost of employee churn is enormous.
Rick Gallegos CEO of Dale Carnegie Tampa Bay, Kevin Sardelli founder of Limitless Talent, Todd Hall CEO of Talent Cloud Staffing presented at our most recent FIVA (Financial Institution Valuation Advisors) webinar: Hiring Strategy: Employment Challenges and Wages. Mike Pratico, Chief Appraiser with Columbia Bank was the moderator. Mike always does a fantastic job of bringing out relevant and practical info for appraisal departments.
Dale Carnegie’s data indicated that 48% of employees are “looking” for another job. Appraisers, both fee and bank, are crushingly busy, so unexpected turnover can cause significant stress to the remaining team members. The survey data shows:
Your staff currently feels
- 43% stress
- 41% worry
- 25% sadness
- 24% anger
If you have a staff of 10, about 4
employees are stressed, worried and aren’t engaged.
Looking for something better
Employees 25 to 34 stuck around for a median 2.8 years. The overall median tenure for all ages was 4.1 years per 2020 data from the Bureau of Labor Statistics. Deduct some time for initial onboarding and lack of motivation on the way out, that’s a short productivity window.
Your focus should be identifying those employees that are just sheltering in place. Create well-being that will provide psychological safety, resulting in employee engagement.
Develop your team
Some of your people looking for “something better” should be a warning shot across your bow. Employee atrophy brings to the forefront the importance of retention. At a basic level, start talking to your employees, “How can we make your job better? What do you need?”
Maybe your department needs an appraisal workflow platform like YouConnect. As a fee appraiser, your people might need a commercial comp database, report writing and workflow software like DataComp Suite.
“Culture” is often an over-used meaningless buzzword for many companies. Create a space where it’s safe to learn, contribute and challenge the status quo. Value the ongoing pursuit of improvement, personally, and professionally. Create a culture that strikes a balance between employee freedom and corporate goals.
Good copy attracts, culture keeps them
Just like dating, if you don’t get a sense of the person, then you’ll swipe left. To attract great employees, you need to give them a reason to swipe right and accept your invitation to have a conversation.
Send me a quick email email@example.com if you want a sample of great copy to hire employees. Here’s a sample:
We all work remote. Want to go work on the beach? It’s up to you.
40-hour work week
We all have our own lives. That’s why we work after all. We respect your time away and want you to be able to walk away from your work.
A little about us
A group of driven, self-motivated, honest, fun-loving people who want to help banks be more successful.
You want this person
You’re a highly driven person. Others may consider an “over achiever.” You’re inquisitive; always wanting to learn more. You’re reliable, personable, and mostly cheerful; having a positive impact on others is important to you.
If this sounds like you, then this might be the right place for you.
Find, engage and retain.