Points-based system helps broker motivate team

By tracking each task in the process, he is able to ensure clients get the same level of care and service

Points-based system helps broker motivate team

A lot of brokers are fervid about chasing loan volumes, but not Elephant Financial director and 2018 Young Guns finalist Shehan Wijayasinghe.

In an interview with MPA, Wijayasinghe says each client needs to be treated with care, regardless of type of loan they take out. “As some days you have a $20,000 loan and some days you have a $2,000,000 loan,” he said.

Wijayasinghe moved his team to a point-based system, where each critical task of the process — calling clients, sending proposals, submitting credit, or completing an annual review for a client — is allocated points. The person who gains the highest weekly points wins. But if anyone cracks above 20 points, it’s a celebration for everyone. Wijayasinghe employs the CRM Salestrakker to execute his special system.

With technology as the backbone to his operation, and a team that practices a Kaizen mindset and shares his values, Wijayasinghe is able to develop a seamless process for the demographic they mainly service: first home buyers and young professionals.

“I feel our key strength is that we know who we are, and who our main customer set is,” Wijayasinghe said. His team was able build a brand around specific markets, and provide them “a more youthful, relaxed, and fun approach to finance”.

“From the initial meeting all the way to settlement, there is a defined step-by-step process that is constantly improving to serve the needs of our customers,” Wijayasinghe said.

As the lending environment becomes tougher and profit margins decrease, Wijayasinghe’s team is focused on improving their processes, but they will also offshore work. By the end of January next year, they aim to on-board three staff in Sri Lanka or the Philippines to help bolster middle and back office operations, and to give the Australia staff more time to meet customers.