DO YOU HAVE A VALUE PROPOSITION FOR YOUR TEAM

By
Education & Training with Performance Development Strategies

 

How do you recruit and retain agents to work on your real estate team?  Every group wants to have a high performing team and compensation is just part of it.

Today’s workers, commission or salaried, expect to be associated with an organization that shares their values. This is the employee value proposition which means, “Why would a high potential employee want to work at your company?”

Many companies do not understand why their turnover is so high. Some think that it is all about money and benefits. But unless you pay below standard it is not about money. Sure, an employee will tell you that he or she left for a better opportunity. You might, therefore, assume that it had to do with money but don’t be fooled. There is much more going on than just money.

You cannot treat employees or agents as commodities assuming they will come to work just because they are getting paid.   Some vendors of perks may even tell you that if you offer special perks then your retention will be better. You would need a very large amount of those perks to try to buy loyalty. And what would you really gain in loyalty or performance? You might even entice poor performers to stay when you would be better off with retaining only the high performing employees.

Employees do not leave companies, they leave supervisors or brokers. However, people who are truly engaged with their company and their team have a sense of belonging. They will not leave for a slightly better offer.

On the other hand, employees who are disengaged with their workplace and with the work they do can drag down team performance. Employees who are disengaged show up for work, but they leave their hearts and minds somewhere else.

The book "First Break All the Rules: What the World's Greatest Managers Do Differently" by Marcus Buckingham & Curt Coffman used data collected over 25 years with a million employees to identify the basic roles of a great leader/manager. They identified 12 questions which have been used by the Gallup organization. The potential effect of great leadership was summarized in the 12 questions employees ask. How do you feel about these questions?

1. Do I know what is expected of me at work?

2. Do I have the materials and equipment I need to do my work right?

3. At work, do I have the opportunity to do what I do best every day?

4. In the last seven days, have I received recognition or praise for doing good work?

5. Does my supervisor or someone at work seem to care about me as a person?

6. Is there someone at work who encourages my development?

7. At work, do my opinions seem to count?

8. Does the mission/purpose of my company make me feel my job is important?

9. Are my co-workers committed to doing quality work?

10. Do I have a best friend at work?

11. In the last six months, has someone at work talked to me about my progress?

12. This last year, have I had the opportunity at work to learn and grow?

 

Highly Effective Leaders

 If you are getting positive answers to these questions you have engaged employees. There is a positive correlation between engaged employees and loyal customers. As we all know loyal customers create successful companies. In the end, the culture of the organization drives its success.  See  a similar post on our web site titled DO YOU HAVE AN EMPLOYEE VALUE PROPOSITION?

Need help creating your employee brand?

Contact Us for a Free Consultation

or call 914-953-4458.

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Debbie Reynolds 03/07/2018 07:58 PM
  2. Gabe Sanders 03/18/2018 11:00 PM
Topic:
Real Estate Best Practices
Location:
New York Westchester County
Groups:
Coaching and Mentoring
Tags:
business and leadership coaching
business coaching in armonk ny
employee engagement in armonk ny
employee engagement in westchester ny
management development in westchester ny

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Rainmaker
4,797,927
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Grant.  There are some leaders that people like following.  Unfortunately, they are not in the majority.

Mar 06, 2018 04:41 AM #14
Rainmaker
2,032,089
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Endre - it is also important to make the customer feel valued and engage them.

Sally and David - oh yes, you could say that.

Gabe - unfortunately true.

Mar 06, 2018 05:09 AM #15
Rainmaker
4,209,146
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, another great post to think about.  I know a vendor here that goes through employees every 6 months, and now know why.

Mar 06, 2018 05:15 AM #16
Rainmaker
5,581,389
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is outstanding advice to share with business owners and managers.

Mar 06, 2018 05:31 AM #17
Rainmaker
2,032,089
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Joan - I wonderi& management has figured it out. 

Roy - thank you.  I hope it is useful. 

Mar 06, 2018 06:57 AM #18
Ambassador
2,301,090
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Such good questions to think about and hopefully improve upon the answers if they are not all positive. 

Mar 06, 2018 05:15 PM #19
Rainmaker
2,032,089
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Judi - working on them will certainly improve the answers.

Mar 07, 2018 08:19 AM #20
Ambassador
3,984,175
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Great post, Grant. In my coacjhing program we talked about a value statement and making sure each agent could state what their's is.

Mar 07, 2018 07:57 PM #21
Ambassador
929,493
Lynn B. Friedman
Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ... - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Grant Schneider 
Saw your post Debbie Reynolds re-blog. Great topic! Actually, you stated what our 30-something daughter explained at dinner why she left her job at one of the major world-wide consulting firms.

  • Employees do not leave companies, they leave supervisors or brokers.
    • You cannot treat employees or agents as commodities assuming they will come to work
      just because they are getting paid.

All the best - Lynn

Mar 07, 2018 09:04 PM #22
Rainmaker
1,528,844
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Grant, this is a great post. Employees and contractors want to feel valued and like they matter - that's such a big one. 

Mar 09, 2018 04:28 AM #23
Rainer
511,241
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Grant,

I sure like my colleagues at work, who are a reflection of my broker's friendly & competent disposition. This business is hard enough to have to deal with an unpleasant environment at the office.

Mar 09, 2018 09:37 AM #24
Rainmaker
2,032,089
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Judi - that is exactly the point.  Make adjustments based on feedback.

Debbie - that is important and more so if it based on validation from clients.

Lynn - yes, yes, yes.  She stated it well.

Amanda - that is right.  They want to be valued contributers.

Dörte - yes, that is a huge motivator.

Mar 09, 2018 10:25 AM #25
Rainmaker
1,404,009
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Grant,
I think you asked the key question:
“Why would a high potential employee want to work at your company?”

Mar 10, 2018 07:07 AM #26
Rainmaker
2,032,089
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Carol - it is time for companies to wake up as competition for employees ramps up.

Mar 11, 2018 06:20 AM #27
Ambassador
1,936,650
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hire well, and treat people well, that pretty much seems to sum it up. I think leaders can inspire, or discourage. Naturally, some folks may not live up to their potential - but overall, a good leader finds the spark. D 

Mar 17, 2018 07:36 AM #28
Ambassador
2,259,801
Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Unfortunately, many employers (in my experience) think they 'own' employees and can treat them any way they wish Grant. Very well thought-out post that gets to the heart of retention and treatment of a most valuable commodity, personnel!

Mar 17, 2018 08:49 AM #29
Rainmaker
1,493,494
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

I can not agree more. The way a manager or company treats us will determine whether we stay there. Employees (or affiliated independent contractors) have got to feel they are valued.

Mar 18, 2018 03:09 AM #30
Rainmaker
2,032,089
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Debb and Bernie - yes, you find that spark.  Not all should be on the bus sometimes.

Wanda - those who think they own employees are about to receive another surprise with all of the new opportunity.

Kat - yes, you set it all.

Mar 19, 2018 10:02 AM #31
Rainmaker
401,523
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Grant, this is a great insight that can be of value to all of us.

Many managers or Brokers never really know why a person has left their group.

They should find out as it may give them some insights as to how to perform better.

I thought the 12 questions were very helpful.

Mar 26, 2018 09:10 AM #32
Rainmaker
2,032,089
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

John - some are really not good leaders themselves.

Mar 26, 2018 12:30 PM #33
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