More companies are starting to fill the information gap between employees and management through training and development. When management and staff have a mutual understanding of the skills and training required for each job, both stand to benefit. NTC’s forward-thinking culture, which focuses on innovation, has inspired the company to recently revamp its employee training program.
(Palm Harbor, FL) April 7, 2015—In the new economy, more employers are realizing that investing in employee training is vital. According to Forbes, corporate training spending grew by 15% in 2013 to over $70 billion in the U.S., and over $130 billion worldwide. This increase is the highest growth rate seen in seven years. (1) While Palm Harbor-based NTC has always had an intense focus on training, the company’s training “reboot” began in the first quarter of 2011 and has culminated in 2015 with updated processes that adhere to the newest residential mortgage industry standards and regulations.
In 2014 alone, over 2,300 different industry-related courses were completed in NTC’s on-site training facility. The entirety of NTC’s 300 staff members have completed the company’s basic training, with 210 staff engaged in cross and advanced training, as well as continuously certified by NTC’s Quality Assurance Department.
NTC relies on its workforce training program and advanced technology systems to ultimately protect homeowners and preserve land records. As it services eight of the 10 largest U.S. banks in the residential mortgage industry, compliance is crucial. NTC officials report keeping their clients within a 99.8% compliance rate on a consistent basis, something previously unheard of in the industry.
Employee development can have enormous economic impact on a company. R Magazine reports that companies which invest $1,500 or more on training per employee annually average 24% higher profit margins than companies that invest less. Additionally, the American Society for Training and Development found that across 2,500 firms, the companies offering comprehensive training have 218% higher income per employee than those with less comprehensive training. (2) However, investing in employee development is not solely for the benefit of the company—employees reap the benefits, as well, through career advancement—one of the highest-valued non-financial motivators for employees. Not only does training offer NTC employees an expanded knowledge base, it makes it possible for them to work on more advanced services and makes them eligible for advancement within NTC, leading to higher job security.
Depending on the position, training programs can take dozens of hours to complete, and some can even require months. However, NTC has been able to reduce the amount of time necessary to train technical personnel while retaining the quality of training. NTC modularized the training for data entry and research personnel by breaking down the training into smaller courses covering different levels of difficulty on a step-by-step basis. According to NTC, they were able to reduce their training time by over 50% and increase overall quality by engaging this method.
According to Gallup, companies with engaged employees outperform other companies by up to 202%, (3) which NTC has experienced firsthand, with the company seeing dramatic improvements across several metrics as many NTC employees who engage themselves in their jobs and pursue training are ultimately placed in managerial positions.
NTC CEO John Hillman has noticed an increase in quality since expanding the employee training program. “The results of an increased focus on our training have exceeded our expectations,” says Hillman. “I’m convinced these practices are precisely the reason we maintain our exceptional low error rate for our clients.”
There are over 100 specific ongoing training courses available at NTC that cover many areas of the industry such as: Document Identification Training, Advanced On-line Research, Document Retrieval Specialist, Post Closing and Document Procurement Specialist, File Audit & Remediation, Advanced Property Reports Preparation, Advanced Data Entry Course, Document Review Specialist, Document Inspections Training, and County Requirements and Remediation, to name a few.
Advanced training is a proactive approach to carry on NTC’s relentless fixation with extraordinary measures that surpass client’s regulatory compliance standards.
For more information about NTC and its services, visit www.nwtc.com.
About Nationwide Title Clearing:
Nationwide Title Clearing, Inc. (NTC) is a privately-owned leading research and document processing service provider to the residential mortgage industry. NTC services mortgage lenders, servicers and investors, including eight of the top 10 residential mortgage servicers in the country, resulting in an expansion that is also tied to its contribution to its industry and its local community. NTC ranked number 13 on the Tampa Bay Business Journal’s 2014 Fast 50 Awards list of fastest-growing companies in Tampa Bay, and number 2,097 on the 2014 Inc. 500/5000 list of fastest-growing companies in America. NTC also won the Inc. Hire Power award for the second consecutive year in 2013 for putting Americans back to work. For more information, visit the company’s website at www.nwtc.com.
1. Bersin, Josh. “Spending on Corporate Training Soars: Employee Capabilities Now A Priority.” Forbes, 4 Feb. 2014. Web. 24 Mar. 2015. forbes.com/sites/joshbersin/2014/02/04/the-recovery-arrives-corporate-training-spend-skyrockets/.
2. Rizkalla, Emad. “Not Investing in Employee Training Is Risky Business.” Huffington Post, 30 June 2014. Web. 24 Mar. 2015. huffingtonpost.com/emad-rizkalla/not-investing-in-employee_b_5545222.html.
3. “Training and Employee Engagement - Stats and Facts.” Slide Share, 27 Nov. 2013. Web. 24 Mar. 2015. slideshare.net/BizLib/training-and-employee-engagement-stats-and-facts.
Karla Jo Helms
Phone: 888-202-4614 ext. 802