Mentoring is a key part of onboarding and development for all team members at Quicken Loans, Inc. The company provides both formal and informal mentoring for all team members. An example of formal mentoring can be found in the banking group with the Mortgage Banker Academy and a three-day event called Lift-off.
Program Details
Lift-off occurs monthly during the first week of a newly promoted banker’s move into his or her new role and helps transition from training to the banking floor. New bankers work one-on-one with trainers, coaches, and banking leaders in a special training/banking environment while taking live calls and presenting mortgage products to clients. Lift-off provides a less stressful passage into the duties of banking.
Each day of Lift-off begins with a classroom training session designed to prepare the new banker for the day ahead. Each day’s training involves a quick review of the technology and processes the banker will be using, as well as a pep talk from a company leader to establish the proper mindset. The new banker then works one-on-one with a banking leader while taking live calls and working with clients.
At mid-day, the new bankers have lunch with trainers and coaches to discuss the morning’s experiences, celebrate successes, and address any concerns or needs. The afternoon begins with another quick classroom session, followed by live calls with one-on-one leader support. This process is replicated for the banker’s first three days in a production capacity.
Results
Prior to the implementation of Lift-off, new bankers wrote an average of less than one loan in the first week of their new role. With the advent of Lift-off, new bankers now average more than two loans in their first week—more than doubling the production.
Additionally, after the banker leaves the Lift-off environment and formally enters the banking floor production, first-month production in a year-over-year comparison for a new banker has increased by more than 50 percent.
