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Why Banks and Lenders Should Partner with Financial Staffing Firms

Put yourself in your customers’ shoes.

You are a homeowner patiently waiting on live chat or on-hold during a call, attempting to reach a customer service rep, your loan officer, or loan processor. You’re trying to refinance your mortgage, or at least seek advice from your lender — in the middle of the COVID-19 pandemic. You’re putting up with the wait because rates are great right now and it’s a chance to save on monthly payment and, well, you’re pretty concerned about how your finances will be impacted by all this.

In 2020, this is the situation many Americans find themselves in. America was experiencing low-interest rates even before the pandemic, and banks were already having a hard time keeping up with the demand. Now, as banks and mortgage lenders struggle to keep their customers happy, their staffing needs are getting larger and larger.

Thankfully, staffing firms can help!

What does “flexible staffing” entail?

In times of unexpected growth, most mortgage companies, banks, and lenders aren’t positioned to staff their companies as quickly as they need to. A much faster way to fill vacancies is to team up with a finance staffing firm who can recruit, hire, and train qualified staff. Workers placed by an firm join you not as an employee of your company — but of the staffing firm. This allows you to secure the specialists you need quickly and free of administrative burden.

What do financial service businesses need now?

Leaders in the financial services or mortgage banking industry understand that effective customer service is critical for maintaining customer loyalty. Mortgage underwriters, loan processors, doc prep specialists, and loan closers are needed now. And just because online tools are improving rapidly, that doesn’t mean the importance of human touch has gone away. Banks and mortgage lenders also need to staff-up their customer service function with skilled candidates.

Why consider working with a third party to fill your staffing needs?

Most staffing companies with proven track records have access to large pools of vetted and experienced workers who are ready and willing to fill employment gaps. In times of turmoil, the way companies structure their teams is crucial. A staffing partner needs to be able to handle peaks in volume and quick turnaround times — working with you closely to understand your company’s needs, as they channel you qualified candidates.

No doubt about it — situations like these require entrusting the right partner.

Conclusion: Why Use a Financial Staffing Partner in 2020

The ongoing COVID-19 pandemic has impacted all businesses – creating additional challenges for leaders across industries, including the financial services sector. Decision makers must act quickly (and intelligently) to tap into available labour sources and fill needed roles.

If you’ve never worked with a staffing agency before, now is the time to do research, make phone calls, and choose the right partner!

Topics : Articles, Financial Staffing, Staffing Agency

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