How can your company get lucky by finding that pot of gold of talented candidates and keep them?! Every company in real estate wants to build the best workforce possible and retain their top talent. But in reality, it has little to do with luck, and a lot to do with employee loyalty, honesty and transparency. By creating and utilizing various recruiting trends from strategic talent insights, any real estate firm will see major impacts on their company’s growth, success and results.
A Nod to Employee Loyalty
A firm’s value can be created by satisfied, loyal, and productive employees, due to the fact that:
- Profit & growth are often stimulated by customer loyalty.
- Customer loyalty is a direct result of customer satisfaction.
- Customer satisfaction is influenced by the value of the services provided to customers by the employees.
Essentially, employee loyalty is connected with customer loyalty and can have a major contribution to the success of the entire business. We see real estate employers demanding loyalty from their potential candidates and employees, but less and less employees believe that their employer is actually loyal to them! Loyalty at work comes down to a mutual feeling of trust between you and your manager or employer. When loyalty is reciprocated between an employee and a company, the employee receives a sense of job security, a connection to their daily work, and will be more productive and engaged.
It All Starts with the Hiring Process
A candidate’s hiring experience can set the tone for their entire career at a CRE firm. From lack of communication to the process taking too long, many aspects can give candidates a glimpse inside a company before they’re even hired. When a company provides that mutual sense of urgency and respect out of the gate, it can help build trust between a strong candidate and employer.
Honesty and transparency, right at the beginning of the hiring process, helps solidify a positive working relationship moving forward. My advice: throughout the recruitment process, be open with candidates about how you’re conducting your selection, what your selection criteria are, and the steps you are planning for your decision making. Managing candidate expectations from the beginning by sticking to a timeline you’ve created, clearly communicating, and providing feedback can help candidates build trust and rapport with the company.
According to Harver Assessments, 53% of real estate employers agree that workforce development is a key differentiator in their company in terms of growth and bottom-line results. With 20% of top performers accounting for 80% of organizational output, the recruitment process and retention strategies a firm has in place are clearly critical. Ultimately, investing in employee loyalty programs and implementing an effective recruitment process can help you retain top performers and have a major impact on your firm’s success (no luck of the Irish necessary).
Eddie McGowan, Director , About Eddie