#USA #Austin #ActivTrak #mortgage industry #Preferred Rate

Maximizing Remote Productivity with ActivTrak

In a rapidly evolving mortgage industry, leading providers are turning towards analytics to refine strategies and boost operational efficiency. Preferred Rate Mortgage, with over 700 employees working across the nation, exemplifies this transformation by leveraging ActivTrak’s workforce analytics platform. This innovation has not only validated remote work productivity but also helped the company decrease expenses while enhancing earning potential for its workforce.

Preferred Rate Mortgage sought insights from ActivTrak that could help them optimize their technology choices and transition to a more efficient operational model. The resulting data allowed the leadership to make informed decisions backed by solid evidence, resulting in reduced costs, improved recruitment tactics, and increased earning capabilities for employees.

Chris Lekousis, Co-Founder and VP of Operations at Preferred Rate Mortgage, emphasized the importance of data in making strategic shifts: "Without ActivTrak, we would be operating on some back-of-the-napkin calculations or assumptions rather than decisions based on actual workforce patterns." Thanks to ActivTrak, the transition to a primarily remote model has not only enhanced productivity but has also broadened the scope for recruiting top talent from across the country.

Confirming the Success of Remote Work

Through comprehensive visibility into work activities, Preferred Rate confidently verified that employees maintained high productivity levels while operating remotely. This insight facilitated a reduction in reliance on physical office spaces and allowed for recruitment efforts to extend beyond local markets. As a result, the firm welcomed new loan officers at a rate 32% faster than its competitors, all while managing staffing levels effectively.

Optimizing Technology Investments

Furthermore, the analytics from ActivTrak unveiled technology-related challenges that hindered productivity and capped earnings. Equipped with this knowledge, leaders tackled issues like system delays, streamlined workflows, and ensured that employees could perform their tasks efficiently with minimal interruptions. The data also enabled the company to make smarter investments in software by pinpointing which tools were beneficial and which could potentially be streamlined or cut entirely.

Strengthening Workforce Planning

ActivTrak plays a pivotal role in strategic workforce planning at Preferred Rate. The shared visibility into work patterns empowers the HR, finance, and operations teams to coordinate efforts effectively, allowing leaders to adapt to the variable demands in the mortgage sector. Lekousis noted, "We can lose more business by being ineffective and not having enough runway and bandwidth to account for the ebbs and flows in the market."

Fostering a Transparency-First Culture

Looking toward the future, Preferred Rate intends to extend access to ActivTrak to all employees, allowing them to track their own productivity metrics. Lekousis highlighted the importance of transparency within their corporate culture, stating, "Transparency is one of the core tenets of our culture, and I want to ensure that this principle carries through as we involve our employees in the process."

Preferred Rate’s strategy illustrates how workforce intelligence can impact decision-making across various business domains while promoting both corporate objectives and the success of employees.

Heidi Farris, CEO of ActivTrak, remarked, "Chris and his team prove what's possible when you use data to understand how work actually operates. When organizations have clear visibility into workforce patterns, they can make bold decisions about their operational structure with confidence. Preferred Rate didn't just optimize their processes; they fundamentally changed how and where their workforce operates."

For those eager to delve deeper into this topic, the Preferred Rate Mortgage case study provides further insights into their strategic approach.

About Preferred Rate

Preferred Rate is a notable mortgage lender that centers on simplifying and demystifying the home buying experience. With over 300 specialists serving tens of thousands of clients, they offer a diverse array of home loans tailored to meet individual financial needs. The seasoned loan advisors guide customers impeccably through every stage of obtaining the right mortgage for their goals.

For more information about Preferred Rate, visit preferredrate.com.

About ActivTrak

ActivTrak specializes in enhancing performance and optimizing productivity through its workforce intelligence platform. By transforming work activity data into actionable insights, ActivTrak stands as a comprehensive solution for employee monitoring, productivity management, and workforce planning, delivering measurable ROI. Trusted by over 9,500 customers, ActivTrak has garnered accolades from industry-leading recognitions such as the Deloitte Technology Fast 500 and TrustRadius.

Discover more about ActivTrak at activtrak.com.