We pay people to quit at Princeton Mortgage. We do it because having a team of amazing people is the most important thing we do. Without a team of great people, we can’t do great work for our customers.
How does it work? After a new employee’s first 30 days they receive “The Offer” to quit and get $2,500. About 10% of people decide that this isn’t the right place for them and accept “The Offer.” We only want to work with A Players who want to be here.
Below is “The Offer” and a few of the unedited responses. It’s wonderfully rewarding to get to spend my life working with people who are all committed to the same mission and bought into Our Culture of Freedom & Responsibility!
Rich – CEO, Princeton Mortgage
From: Richard A. Weidel III Subject: The Offer
How’d your first 30 days go? I hope it’s gone well, and if it hasn’t, please let me know.
We want people working at Princeton Mortgage who want to be here. When you joined, I wrote you a letter telling you about “The Offer” to quit and receive $2,500. Here is “The Offer.”
I want you to take a moment and think about what you really want. In the long-term, we believe staying somewhere you don’t want to be isn’t healthy for you or the company. I hope you won’t take “The Offer”; but, if you’re not happy or don’t think this is the right place for you, please just let me know by the end of the day that you’d like to leave PMC. From there we’ll coordinate an exit interview and the $2,500.
I’d also like to open up an opportunity for you to share with me any thoughts you have about the company, our onboarding process, things you see we could do better, or just anything in general that is bothering you. If you choose to stay (I hope you do) – please be candid and help us all get better.
Onwards and upwards,
From: Peter To: Richard A. Weidel III Subject: RE: The Offer
I’m thrilled to report that I will not be accepting “The Offer”. I firmly believe in the work that we are doing here and the value that we are able to provide our clients with. PMC is a place I know I can grow professionally and personally.
My first 30 days were exciting! I was very confident in my skills as an originator, however taking on this new task will continue to provide me with challenges that will make me a better worker and a better man. I still have much to learn, but I’m very confident that I will be able to excel at my current position with the support system surrounding me.
Being at PMC is comparable to a dream. I have an incredible platform to grow the skills I already possess, and the opportunity to collect more skills through the high-level individuals I get to work with each day. The trust and confidence that you, Matt, and everyone here at Princeton has in me is nothing short of inspiring. I am grateful every day for being offered this opportunity, and I’m proud of myself for acting on it. One thing that brings me incredible joy in my personal life is creating and maintaining meaningful relationships that are mutually beneficial. I love meeting new people and adding value to their life! I didn’t expect to find a job or position that would allow me to mesh my personal joys with productive behavior, but Princeton gives me that opportunity. And I am very grateful for that.
What I really want, long-term, is to feel fulfilled. I want to do work that is meaningful to me, and also has a positive effect on others. PMC gives me that opportunity tenfold. I want to work under the Princeton name for many years to come. I believe in the leadership of this company, the message we convey, and the actual work that we do. We have the potential to be trailblazers in this industry, and I’m excited to be a leading force in that effort! My only regret is not joining this extraordinary group of individuals sooner.
In regards to the onboarding process, I was very satisfied with the amount of knowledge shared with me. I felt well-informed and comfortable with the company afterwards. As I get deeper into my work, you can expect me to have a strong voice on our Sales and Ops calls. I’m eager to continue working at Princeton, and I want to thank you and Matt for providing me this opportunity. When I have thoughts on how we could be doing things in a better way moving forward, you can bet I will make my voice heard.
From: Jon To: Richard A. Weidel III Subject: RE: The Offer
Great news I will not accepting your offer. It is a good offer though.
I am very appreciative of the opportunity with PMC which is very rare in our industry these days.
Onboarding process was great everyone was motivated to help and not just doing their job description like other experiences.
I have been a loan originator for 17 years and this the first time in 13 years that I have been excited about my mortgage career and its future.
No more just grinding it out and hoping something might happen for the better.
I love the enthusiasm and positive energy here at PMC.
I look forward to being a big part of the PMC success story.
Would like to see more aggressive pricing in the future but we will do what has to be done to get us where we all can be profitable.
Everything is great and we feel that PMC is the place to be in the mortgage industry.
Looking forward to our future success and building the success of others.
From: Katie To: Richard A. Weidel III Subject: RE: The Offer
Good Morning Rich,
I honestly can’t believe that it has been 30 days already!! But there is no hesitation when I say I am definitely declining the offer! From day one I’ve always felt that I have not only been part of this team but part of a family and I’ve never really had that with any other company I’ve worked for! This company has so much potential and has worked so hard to get where you are at, I am excited to be a part of that and to see what the future brings us!
Thank you so much for this opportunity!
From: Erica To: Richard A. Weidel III Subject: RE: The Offer
I am pleased to announce that I will not be accepting “The Offer”. I love the team I work with, feels like one big growing family! I am thrilled to continue my journey with Princeton and help take processing/operations to the next level.
Working for a company that is just starting to take off in the mortgage retail industry, I am very excited to bring the knowledge that I have to the table and be the face of Princeton Mortgage to our borrowers to continue delivering the effortless mortgage.
Thank you for this opportunity,
From: Frank To: Richard A. Weidel III Subject: RE: The Offer
My first 30 days have been amazing! I will be declining “The Offer” as I look forward to growing with this company. I have found myself in an environment where I truly can thrive. Being surrounded by like-minded, motivated individuals is very powerful. As you know, I had zero experience in this industry yet I find myself on the fast track to becoming a knowledgeable industry professional.
My encounters with Retail and Direct to Consumer, as brief as they have been, have been great! What I would really like to share with you is the amount of support I’ve received from the Wholesale team. Everyone here has been extremely helpful. They have gone out of their way to ensure I understand the topic at hand and always check to make sure I am comfortable moving forward. What makes that so special is that despite how busy everyone is, they still find time to slow down for me. I think it’s rare that you find a group of people who are incredibly good at what they do and also willing to share those skills with others.
I can honestly say there is nothing bothering me at this point in time. I’m so focused on absorbing as much as I can there are really no adjustment’s I would feel confident suggesting. I’m certain my perspective on onboarding would prove useful in the future and I would be more than happy to elaborate on that at a later date.
Thank you for everything!
The opinions expressed in this post are the sole view of the writer and do not reflect the opinion of Princeton Mortgage Corporation.