Staff retention and head hunting is a hot topic amongst the real estate and property industry at the moment. With a shortage of quality talent in the market, employees are being heavily targeted and tainted with opportunity to jump ship. A recent insight from Seek highlighted that salary, career progression and work life balance were the 3 strongest drivers that staff looked at when weighing up their options in a work search. You as an employer need to ensure you are retaining your most valuable staff and there are several ways you can do this;
Creating the right culture is a great start, this can be done by having a work environment that attracts the type of employee you want to work with day to day. You need to also ensure everyone’s values are aligned and that your expectations are clearly communicated. Culture starts from the top so as a leader or business owner you need to walk the talk and set the right example.
Offer training to the performers, not just the under performers. It’s easy to focus your energy on those that aren’t performing and funnelling all of your efforts into getting them on track, be sure to continue developing your strongest performing staff members to show you value them and seeing them continuing to succeed and grow.
Provide regular feedback, monthly 1 on 1’s should be non-negotiable; both parties need to continually discuss wins and lessons along with business and individual goals to ensure you continue on the same track towards a common goal.
Offer benefits like casual Friday, work from home opportunities, targets to reach a financial bonus, access to gym memberships, flexible work hours for working parents, or paying for CPD renewals are great incentives. Little things like this can buy and retain loyalty in a candidate tight market.
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