The key to recruiting, activating, and retaining talent is to build a compelling company culture. Inman News went so far as to say “Company culture will become the most important component in recruiting and retention.”
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Culture is created by the broker or team leader – who they choose to hire, how they treat their agents/staff, and how often they communicate with them. According to a 2015 Gallup poll, those in a position of leadership “account for at least 70% of variance in employee engagement scores” and that “one in two had left their job to get away from their manager.” Whether you’re on top or thinking of starting a team/brokerage which will put you there, you’ll want to prepare yourself to be a culture wonk.
That same Gallup Poll showed that leaders who “hold regular meetings with them are almost three times as likely to be engaged” vs. those that never connect with their leaders. Make time during your day to focus on your team/agents and it will pay off in higher retention. For a great resource on how to develop a one on one program, check out this Manager-Tools.com podcast.
2. Identify Ownership
If culture is going to be a differentiating factor in your office, it needs to be someone’s responsibility. If not yours – who can you put in charge of building your office culture? You ideally want someone optimistic and approachable to help bring people together. If you want them to prioritize these responsibilities, you should incentivize them with bonuses based on their successes.
Tom Ferry coach on Team Culture
This can be tricky as most agents are independent, but having someone being the designated go-to person for every new face you bring into the office means there will be at least one bond created. Find incentives for your more experienced staff/agents to discuss best practices and potential faux pas with your new hires.
Being independent with support from a broker and support staff is all some agents want. The rest need to feel like they are part of something – that’s where events can help create the culture. Host training sessions, seasonal parties, and gatherings to celebrate milestones or recognize performance.