Following on from my last post, I wanted to take a look at the other side of recruitment, a key to longevity. Retention. It’s costly in a business to have a revolving door of people, not just in terms of your recruitment activity but also in development and training. There are clear signs that indicate if your business will suffer retention loss. Learn these and you will save valuable hours and costs.
Business owners will often say, “If I can get a good couple of years out of a person then I will be happy.” That’s a short term view, in my opinion. It’s in line with yet another one of those urban myths that people inside the real estate industry quickly burnout. In some cases that might be true, but if you looked at the relevant business more closely, I believe you’d find triggers including bad culture, a lack of clear vision, reactive processes and a lack of leadership.
Let’s think about something. If we interviewed the best and the longest serving people in any business across the industry, I believe we would hear a consistent and strong message – “the leader supports me and that’s why I stay and why I love my job”.
In our industry it’s common to hear people say “this is such a hard job”. Well, I’m going out on a limb here and stating that I believe sometimes people make the job harder on themselves. A business that is reactive, where workflow processes are not structured and streamlined, will always be chaotic.
It’s proven that when things are missed and jobs are not done properly, the frustration felt by the clients and customers is immense. It just simply becomes all too much. This sentiment can creep further into the business ethos to the point where, every day, your employee is faced with angry and frustrated clients. It becomes enough to drive them from the business and the industry. If we are honest, who would blame them? The key to avoid burnout is to look for the real cause and not just blame the role or the industry.
If burnout happens in your business, you have to ask yourself a question. Was this a fault of their own doing, or is something missing inside my business? Sure, there are things outside our control in any business and of course a crisis will interrupt any team’s day, but in a well organised and structured business with strong leadership and the right people, insurmountable becomes a challenge that’s solvable and satisfying.
Retaining good people and watching them grown inside a business is probably the most satisfying part of being a leader. I’ve often been asked what my role is as a leader. My answer is to make the people who work with me even greater leaders.
During my career I’ve been fortunate to have some of the best leaders in the industry. It’s through their guidance that I’ve been fortunate to have taken on some really challenging and high profile roles. For any leader, though, it’s important never to forget where we started.