Recruiting and retaining the best

Recruiting and Retaining the Best

Appoint the wrong/inadequately trained person in your agency or team and in six months they will cause long term damage to your valuable asset – your rent roll or your sales figures.

 

An example of employee types to avoid:

The old “bottom drawer” dweller.
If it’s too hard, too much, or they make a mistake – it’s hidden in their bottom draw. This employee usually sticks around just long enough for the draw to fill up to the point where they almost do a runner in the middle of the night rather than face the music – and you're left to pick up the pieces.

 

The seagull.
This type of employee flies in, poops everywhere and then leaves, disrupting your team and possibly your clients in the process.

Sound familiar? If not, you are one of the lucky ones. Once you have the right employees in your team or agency, they are worth holding on to! Retention of good staff is one of your most powerful tools.

Real estate professionals want to be challenged, they want autonomy, they want to make a difference, they want to be heard, they want to be valued and appreciated and they want personal reward both monetary and through job satisfaction and career progression.

 

Looking after your team – what you can offer

 

Regular social functions

•Encourage good relations within a social setting.
•Welcome drinks for new staff (and a welcome gift too would be great) Maybe you won’t have to worry about a departing gift!
•Can reduce the level of absenteeism as each member of the team will have an increased level of loyalty to each other and will not want to let the team down.
•Introduce an office Birthday Policy. A special morning tea/birthday cake, for example.
•Invite spouses to the agency Christmas party. This helps to create a level of loyalty and commitment from partners of employees, the person who usually is the sounding board at the end of a long hard day at work.
•Having a bit of fun and feeling a part of the social order within the working environment is important as we spend a large percentage of our lives at work.

Don’t keep bad apples as they poison the good ones
Just as we can be too quick to hire, we can also take too long to fire – the longer they stay the more damage they will do to your business.

 

Open door policy
Listen to ideas, grievances, concerns and act on them.

 

Flexibility in working hours – part time/ job share
In a female dominated industry such as Property Management, where women are having children mid-career – this is essential. Times are changing and technology allows flexibility.

 

Pay for your staff to attend conferences, training and workshops
Just to have a day out of the routine helps to keep motivated as well as increasing the know-how you bring to your business through employee knowledge.

 

Pay for their registration renewals/ real estate license

 

Temporary staffing to cover for holiday leave, sickness and general absences

 

Formalised letters of offer upon commencement

 

Ensure prompt payment of job related expenses e.g. car and phone
It is not up to your employees to fund your companies business related expenses and slow reimbursement can be unsettling. 

 

Recognise high achievers

•Bonuses.
•Incentives.
•Recognition.

Regular staff meetings
Transparency within an agency through clear communication makes people feel they are an important part of the team. Keep staff informed of the company’s progress and recognise high achievers in the presence of their peers.

 

Succession Planning
•Promote from within.
•Traineeships.
•Provide ongoing training – on the job and industry courses.

Regular, formal (6 monthly or annual) Salary Reviews after researching current market trends.

•Research current market offerings.
•Reward loyalty, tenure, consistency, attendance.
•Don’t wait for your employees to feel they have to ask.

Consider enlisting the help of a recruitment consultant.
Candidates placed through a recruitment agency may be inclined to discuss their concerns/grievances with their consultant before they make the decision to resign. This may allow you to step in and address the problem before it gets out of hand and before another staff member bites the dust.

 

Stay ahead of the market in terms of salary and conditions
A good relationship with a recruitment consultant can be very helpful in staying abreast of market trends.

Offer profit sharing after a set period of tenure

 

Referral fee when introducing potential staff

Don't forget a simple thank you
The little things can mean so much and a simple thank you can go a long way. This can be verbal, a hand written note or card, an email or even a small gift.

 

Remember, focus on the things you can control. You can control how you look after your people, you can make your agency or team a great place to work in and you can always show your appreciation for your staff and colleagues.

For more articles like this one checkout Property Management Growth

via leased-annual.com.au