Finding and Keeping Great SBA Talent
Part One: Great Culture
Author: Tim Terry, Managing Member at SBA Advisors
In the past 32 years of SBA recruiting, I have seen many different SBA lending entities’ approach to finding and keeping talent. There are a few lenders that run such a great program with a great team, that we waste our time reaching out to any of the team members. Why? The culture!
When talking with hiring managers, culture continues to be a hot topic. But what culture works best in attracting and keeping great SBA talent?
What I have witnessed first-hand, is management’s commitment to caring. That’s it. Caring about each person’s success. Caring about the positive environment that encourages team participation and excellence in the loan process and the role each one plays. In the remote work environment that is here to stay, a caring culture with a team pursuing excellence is still possible.
What does that look like? Let me ask you some questions.
How often do you see managers tell a team member, “great job”?
What does it cost a manager to say something encouraging to an individual or team? After all, the culture is a result of what management does or doesn’t do. And believe me when I say, team members know quickly if their managers are creating the right culture.
How often do you see a celebration (tiny or big) each time a loan closes and funds?
I was visiting a hiring manager one day, when he paused our meeting and conducted a small celebration for the loans that closed that week. He had sandwiches and drinks brought in and gave the team incredibly encouraging words. The manager may have been the quarterback, but regardless of the role played, each team member felt honor and respect.
Does your team respect each other and the role they play?
You may be the pitcher, but you will never win the game by yourself. In SBA lending, BDO’s often can’t fully appreciate all that has to happen to get the loan approved and closed. I know one BDO who personally sends gifts to the team that got the deal closed. It doesn’t cost much, but it sure goes a long way to showing respect and appreciation. Mutual respect must be seen (actions) and heard starting with managers with participation throughout the team.
There are many leaders who do not create a culture of success. They would say that everyone is paid well and they are "just doing their job". It is what is expected. OK, we can all appreciate that perspective. However, show me a team member who doesn’t want a pat on the back for a job done well. Show me a team that doesn’t want to be acknowledged and encouraged?
The reality is you create a culture whether you define and implement one or it is created on its own. Ninety percent of SBA teams create culture on their own. And I can be very successful in recruiting from those teams. But those teams that establish a culture of encouragement and celebrate successes, cannot be recruited.
The take-a-way to this is simple but many individuals never stop to think about it. At our company we have an axiom we say often. “People don’t care how much you know until they know how much you care”. After 30 years in the people business, it is our company culture, our DNA. I want to encourage every reader to ask themselves “What is our team culture?” How can I as a manager or one who just plays a role in the process encourage, honor, and respect the others I work with? And as a manager who is responsible for execution of the culture, I must ask, “Do you have a specified culture and a plan that is consistently reviewed and implemented throughout the year?”
Do you want to attract top talent? Do you want to keep top talent? Think about the culture you are implementing.