How Yellow Brick Road are doing responsible business

Anne Drane, Managing Director, Yellow Brick Road Fairfield speaks to Rachel Bevans, Managing Director of The Healthy Brand Company about how they’re responsible across four key themes.

Responsibility goes across the organisation to create long-term value for all stakeholders 

As a Broker the key issue is about responsible lending and putting the customer first. This includes every aspect and interaction within our business .It is incorporated into our training, marketing, compliance, recruitment and stakeholders.

Purpose and values drive strategic direction and responsible business decisions

Our purpose is to give every day Australians access to quality mortgage broking services and advice, with competitive rates. We place the customer at the forefront in all the strategic decision making. Our training is second to none. Our CEO leads by example with direction, purpose and values when it comes to all aspects of our business. This includes brokers keeping up to date with responsible lending, our marketing and compliance. Franchises are supported and monitored to ensure you are ‘looking after the customer and aligned with the values and direction of Yellow Brick Road.

How being responsible impacts customers, brand reputation and trust?

Marketing is important with brand and trust; the concern is if they don’t have front-line view of the customers individual needs and become too reliant on data and digital. This can lead to generic promises in advertising that aren’t suitable for the person. Loans have to be suitable to the customer’s situation, need and objectives. You need to consider the individual financial circumstances for each person.  All customer circumstances are different.

The lower interest rate loans being advertised recommending customers shop around may not be suitable for them. If they intend having a family in the future, the lower rate loan may not have the right conditions of being able to take parental leave break or pay off early clause or offer an offset account. How’s that responsible?

A responsible business is a great place to work for employees, trains and trusts employees to be responsible

Franchisee’s & brokers are trained to understand and look after the customer with the importance of being responsible. I’m with Yellow Brick Road because they have a great culture, they practice every day of valuing and supporting their, customers, franchisees and stakeholders.

Our compliance area is bigger than our marketing area. That’s the values and the integrity of the organisation I want to be with.

HAVE YOUR SAY:

How is your organisation stepping up to responsible business? 

Post a comment on First 5000 – Have your Say on LinkedIn today or email editor@first5000.com.au with your story.

Read more about responsible Business here.