BLOG VIEW: Loan processors, funders, closers, and other mortgage professionals who want to move into leadership often believe the skills that make them successful in operations will enable them to take the next step up. But to become a successful leader, they will also need additional interpersonal skills.
Here are the seven soft skills great leaders cultivate as they move up the career ladder in operations:
1. A curious mindset
There is always something new to learn in the mortgage industry and approaching work with a sense of curiosity is a must. If you are not willing to be a sponge and soak up knowledge in new opportunities – is it right for you?
This is distinctly important when moving up in leadership. It is impossible to know everything when transitioning into a new career role. Embrace the need for growth and trust the knowledge and decision-making capabilities of your team. That, and being honest about what you do not know and understanding where to go and who to lean on for information, will help you make informed decisions.
2. The ability to ask for feedback and the willingness to apply it
The best operational leaders ask for feedback and take criticism, constructive or not. This, as well as recognizing that you can never do everything perfectly, is essential to advancing a career in mortgage operations. Good fulfillment employees strive for perfection and 100% satisfaction, so this can be particularly challenging.
Collect feedback from colleagues and other team leads. Ask them to honestly share what they consider your strengths and weaknesses or give specific examples of how to better handle a situation next time around.
3. Willingness to learn how to lead
Team leads need a different skill set than processors or other roles. Seek advice from your manager, human resources, a mentor, or industry associates to identify what leadership skills you need to know in your new position.
Work with your new boss to plan how to pick up the needed skills. Human Resources can direct you to online learning sources, too. Set a measurable course for yourself in partnership with your boss. Outline goals in 30-, 60-, and 90-day increments with corresponding “pulse checks.”
4. Confidence when faced with change and uncertainty
Stepping a new operations role sometimes means leading people who perform a job you have never done and doing things you have never done. That may lead you to doubt your ability to manage staff that handles unfamiliar and perhaps complex tasks.
Be curious and ask questions about their role and day-to-day job functions. Otherwise, people will assume you know exactly what you are doing and will not offer needed information without prompting. Do not be intimidated by people more intelligent than you. Empower them by engaging in topics with their expertise to help guide your overall decision-making for the team.
5. Willingness to move from peer to boss
A common challenge for new leaders is the transition from peer to leader, such as moving from closer to closing team lead. Suddenly, you need to hold people accountable for the work they are responsible for completing. It can be especially changing if team members believe they should have been selected for the promotion you received, or if they are a close friend.
Managing the move from friend to leader and professionally distancing yourself is part of moving up. If work friendships are more important than your career, a promotion might not be an ideal choice for you.
6. Authenticity
It is important to incorporate your genuine self in your work, such as keeping your sense of humor.
When moving into leadership, it can be easy to put on a “hat” to go to work, distancing your true self from your work. Doing that can lead to unhappiness as you continue to progress in your career. This is not to say you should not be professional. But, if you cannot be yourself at work, consider moving to an employer with a more inclusive culture.
7. Capacity to allow others to grow (and find their style of work)
Stepping back and letting someone do the work the way they want to do it can be surprisingly challenging for a new manager, who once performed that same role.
Separate yourself from your old job. Your new team is there to support you. You are there to show them you believe they can do it and support and empower them to do what they do best.
They may make mistakes, but you did the same – that is how you learned. Let people find their distinctive flow.
Using reporting tools can help drive results versus micromanaging people.
For instance, if someone is asking you to perform a task that you now are responsible for overseeing, instead of jumping in and “helping” manage your team, show that you know they can deliver on the task. Performing a prior responsibility on someone’s behalf without their knowledge shows a lack of trust in that person and is a form of micromanagement.
Serving as a team lead can be immensely fulfilling and enjoyable. If you want to move into operations leadership, developing these seven interpersonal skills will help you prepare. Armed with them, you can be an empowering, effective team leader who is well-equipped to become an exceptional operations manager.
Lauren Reames is senior vice president, national fulfillment, retention for Planet Home Lending.
The views and opinions expressed in this article are those of the author and do not necessarily reflect or represent the views, policy, or position of Planet Home Lending, LLC.
