Good agents are the most valuable assets of a real estate company. Without a good team, it will be hard to compete. However, you won’t find a ton of good agents just waiting for you to hire them. Along with that, you always have to worry about other companies stealing your best employees away.
If you are having trouble recruiting or keeping good real estate employees, you need to look for ways to make your company more attractive. You also want to make your company a place people won’t even consider leaving once they have the job.
But what can you do to build this kind of work environment? This post will explore some tips to help real estate companies boost happiness and productivity.
Review the Current Situation
Try to get a handle on the situation before making any big moves. Start looking at various company metrics to see where you are doing well and where you could improve. Look at the metrics for individual employees as well. Along with that, you could hold an employee survey to get an idea of how engaged they are and how they feel about the company. A little information about the current state of the company could guide you in the journey.
Nothing speaks as loud as cash, especially free cash bonuses! After all, that’s why you’re all working together. You could set up various programs to offer cash bonuses for employees. It’s great because the prospect of more money not only motivates agents, it also increases satisfaction. You could set yearly or quarterly targets that trigger bonuses. Another idea could be to make it a team bonus instead of an individual bonus. That gets the whole team working together, so they all get a reward.
A little recognition can go a long way. Let your top performers know you appreciate their work. If you want to take it to the next level, you could consider various real estate awards ideas. One of the obvious options is the top agent of the year. However, you could come up with any number of ideas. The company could have an awards ceremony, and you could even give out plaques or trophies. Employees will look forward to award season to see who gets which award.
Training and Development
Ongoing training equips your agents with the skills they need to succeed. It also makes them more valuable to your company. By investing in their professional development, you’re also showing employees that you value them. It indicates that the company sees potential in them and that the company offers opportunities for growth. Employees who receive training and development from the company also tend to stay longer.
Giving gifts to employees is not a new idea. Companies in real estate and other industries have been doing this for ages. One common example is the gift of a watch for hitting a career benchmark. It might be something like hitting a specific dollar amount in career sales. For a more modern take on this gift, you could offer a new phone, tablet, or laptop. It could also be smaller gifts for various occasions. Most real estate employees would appreciate gift cards to local stores or online retailers.
We all need a little time away from the grind. As much as we might love what we do, it is a high-pressure career. Offering vacation time is great, but travel incentives are even more attractive. You can work with companies that create employee bonus programs that offer travel incentives. It would include things like discounts they can use on airfare, hotel rooms, and other travel amenities. You could also arrange various day trips employees could take on their days off.
Health and Wellness Benefits
There is a definite link between wellness and productivity. The healthier your employees are and the better they feel, the more they will be able to help your company reach its goals. For that reason, it is a good idea to consider various health and wellness incentives. One obvious option is to offer free gym memberships to employees. You could also offer spa days or various wellness treatments. The company could also arrange a wellness retreat for employees. Along with boosting productivity, your employees will appreciate the investment in their well-being.
We all need to eat. One way to increase satisfaction and build a more positive work culture is to offer free food. For example, you offer breakfast with various foods, coffee, and fruit juice. Free lunches will also be appreciated by your employees. It doesn’t even have to be something you do every day; a weekly or monthly free meal can go a long way. You could also arrange it so you all eat together. That way, it can also double as a way to build stronger connections on the team.
Implementing a thoughtful array of incentives can do a lot to help you increase productivity at your real estate firm. Beyond that, it will help you attract top talent while also keeping existing employees happy.