Keep your best staff engaged through innovative means

As the owner of any business knows, it is not only the hiring of good staff but also their retention that can be a challenge.  And the real estate game is no different.  There is often nothing more frustrating than going through the process of searching for suitable agents for your franchise, inducting, training and investing resources in them, only to have your recruits become so capable that they are poached away by a rival company. 

Such is the point of this blog.  While employees must work hard to maintain their positions within an organisation, so too must franchise managers and owners ensure that their best staff are consistently motivated and happy so as to remain a member of the company.

Motivating staff does not necessarily have to be about the salary or fringe benefits offered, and for many businesses offering larger amounts of money may not even be a viable option.  For real estate franchises to ensure that the best agents remain on staff, it is important that the agents enjoy their daily tasks and the work environment they operate in.  Achieving such an outcome may sometimes involve enticing your staff through ways that involve thinking outside the box.    

So what can your real estate franchise do to create the kind of working environment that retains staff? Darlene Wilson, general manager of people and culture at SNP Security, commented in an article entitled ‘Don’t let ‘em go!’ in the April 2011 issue of Smarter Business Ideas, that staff can be retained in situations where they are the right people in the right roles, working in a thriving environment. 

Training
The article also quotes John Asquith, retention advisor and founder of the TalentDrain agency, who says that the attrition rate after the first 12 months for new job starters is 30 to 40 per cent, as happiness levels tend to drop unless employees are actively engaged.  John suggests that mentoring programs, a team environment and training programs are very important in the staff retention process.

Rewarding working environment
Also quoted in the article is Dr Adam Fraser, a Sydney-based performance expert, who notes that due to their flexibility and technological know-how, today’s younger employees may need to be treated differently to previous generations.  Dr Fraser says that as these younger employees have so many options and are less motivated by money, they are often looking for something unique and rewarding to be involved in.

As the owner/manager of a CENTURY 21 real estate franchise it could be worthwhile to consider what aspects your employees enjoy about working in your agency, and how you can improve on these.  By making your franchise the best place for real estate agents to learn, through both training, good management and mentoring relationships, as well as to achieve pleasing results, you can increase their levels of job satisfaction and reduce their need to seek employment at an alternative agency. 

Posted by George Tarbey on 02/05/2011 at 1:12 PM | Categories:

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