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Technology Solutions

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Contact Us

Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

Technology Solutions

 

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Technology Solutions

 

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Contact Us

Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

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Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232
Mortgage

Do you have enough staff for busy season?

Articles by: Richey May, May 20, 2019

Do you have enough staff for busy season?

May 2019 – Staffing Busy Season – Running a mortgage bank revolves around the seasons. Typically, this means managers need time to hire and train the best production and operations team to meet the demand that arrives with the warmer months.

Some managers rely on the previous year’s performance and past experience to fill these roles. This can work well if you have a veteran management team and a large pool of eligible workers in your area. However, with market factors changing every day, executives might be looking for a more stable and measurable method to assemble the right staff to bring in clients and keep files moving during busy season.

With a robust, flexible Budgeting and Forecasting tool, you can model different staffing mixes and see their true costs all in one place. Our cloud-based solution allows you to start the process by connecting your Loan Origination System and HR Information System directly via API. This will give you a continuous flow of data about your volume and current staff. You can dig deeper and show the true revenue after commissions and other costs by modeling based on drivers like interest rates, demand and personnel expenses.

Most HR systems will also be able to report on incoming staff so you can plan for the immediate future. In addition, you’ll be able to map out and compare different plans for each department. Roll these plans up into a neat P&L to set clear goals by branch, region, company and any other divisions you use to keep teams aligned.

In the past, managers would need to make guesses about complicated figures like payroll taxes based only on expected salary. Now, it’s easy to create multiple different headcount assumptions and accurately estimate taxes, benefits and other costs to get a better idea of what salaries you can offer to attract the best candidates in any area.

Company leaders can create projections based on the business model, industry factors and expected sales performance and test different headcounts against forecasts instantly to get a better idea of the ideal staffing mix. As plans change throughout the year, it’s easy to model for any period needed to optimize performance.

Finance and HR can work seamlessly together with reports that are easy to read and understand. Meet together is crucial during busy season to make sure you’re staying competitive with other employers hiring for similar roles or to be sure that promotions, reorganizations, etc. fit your budget and overall business strategy.

If you’re tackling the question “Do we have enough staff for busy season?” get in touch with us today to talk about how our Budgeting & Forecasting tool can get HR and finance working together to solve this perennial business challenge.

To learn more about how Richey May Technology Solutions can solve your unique challenges with our Budgeting & Forecasting Tool visit our service page or reach out to Spencer Smoot. For more information, fill out the contact form