The X Factor: Are Your Real Estate Staff Planning to Leave You?
January is a hot time of year for real estate agents and staff working for real estate investors to change employers and this year recruiting efforts are heating up even more than usual. Those companies who are emerging as the winners in the industry are increasingly finding that it is their ability to attract and retain the best talent that makes all the difference. Unfortunately this is becoming even more difficult, especially with so many real estate companies doing more to sweeten the pot with holiday bonuses. A new American Express OPEN survey has revealed a surge in small business spending and giving for the 2012 holiday season. According to the research 6% more companies plan to dish out holiday bonuses this Christmas. We aren’t talking about measly stocking stuffers or gift cards either. On average businesses say employees can expect a 9% bonus. This is on top of around 60% of companies now offering hefty sign on bonuses too. So how can real estate investors and owners of brokerages compete against those with bigger pockets? Regular thanks can go a long way, as can team bonding efforts from holiday parties to retreats and team building activity outings. However, free things like making staff feel important to the company’s mission and helping them to envision future rewards for their part and even offering more time off or the ability to work from home during the holidays can do wonders for increasing staff loyalty too. Besides giving to employees and contractors real estate companies should also recognize that the holidays are an important time for giving to charity or at least helping out with time too, and 57% of small businesses plan to do this in 2012. Lastly don’t forget to protect your customer base either. More than half of business owners surveyed said they plan to spend almost $1,000 on gifts for clients on average.
Are your real estate company employees planning to jump ship in the next few weeks? If they are what can you do about it?