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DS News September 2019

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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74 I N D U S T R Y I N S I G H T / M A R T I D I A Z "Good is the enemy of great." Jim Collins made that statement famous when he wrote his book, Good to Great, almost 20 years ago. Keeping in mind Collins' perspective, are we limiting ourselves from creating great teams by settling for good ones? Most would agree that a good team is one that works well together. For some, that may look like a team of individuals with similar ideals, methods, and experiences working methodically towards the same business objectives. Others would argue that this definition of a "good" team doesn't begin to scratch the surface of what businesses need today. To be competitive today, we undoubtedly need "great." And to achieve that, we first have to get comfortable with moving past what we've been comfortable with. If we are comfortable with "good," what's going to motivate us to be "great?" A COLLECTIVE GOAL Of course, it is essential that we all work towards the same vision, but it is also important to have individuals on our team who want to help shape that vision. Great teams are made up of individuals with new ideas, unique ways of thinking, and different life and work experiences. ey have team members who look, act, and think differently. A great team is diverse. Forbes conducted a study a few years ago where they measured the effectiveness of diverse teams. ey studied more than 200 business teams, over two years, in a wide variety of businesses. eir results were astounding. Decisions made and executed by diverse teams delivered 60% better results, and teams that followed an inclusive process in decision-making made decisions two times faster with half the meetings. When Forbes broke down the demographics of the teams, the results became even more profound. Gender-diverse teams made better decisions 73% of the time, while teams that included a wide range of ages and different geographic locations made better decisions 87% of the time. With numbers like these, the case appears to be an easy one to sell to business leaders. Build a great team by building a diverse team. Now, if it was just that easy to make it happen. MAKING THE RIGHT CHOICES Great teams start with great hires. With unemployment rates hitting 40-year lows, the challenge to find the right talent has never been greater. Today's recruiters don't just face the challenge of having a full pipeline. ey face the challenge of having a pipeline full of qualified, diverse candidates that are genuinely considering making a job change. If we expect our hiring managers to select diverse candidates, we must ensure that they have diverse options. Where we post jobs, the information we include in job postings, and our screening criteria for candidates all influence the makeup of our candidate pools. Effective recruiters continuously seek to diversify their pipelines by looking for new, creative ways to source diverse talent. Professional and social organizations that are dedicated to the development and advancement of women and minorities offer partnership opportunities that include job postings, leadership mentoring, and event sponsorships. Most of these organizations are looking for more than a one-time monetary investment. ey're looking for a relationship that benefits their members as well as their employer partners. It takes more than just a few great players to build a championship team. Building a business is no different. Take a look into how bringing in a diverse roster of workers can lead your team to success.

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