by Ben Hess, Managing Director, ThirdPool Recruiting
Yesterday, we discussed the “attrition constants” that form the foundation of an effective retention strategy.
According to CEB Researchers, two new attrition variables have emerged, and they are especially relevant to the real estate industry.
People tend to leave companies when:
They feel like they’re not doing as well as others in their peer group outside the company.
They feel like they’re not as far along as they should be at a certain point in life.
When do these feelings of dissatisfaction take root in an agent’s mind?
It commonly happens after personal milestones such as birthdays or professional milestones such as work anniversaries.
But according to researchers, the largest catalyst for career dissatisfaction are large social gatherings.
For example, job hunting activity jumps 16% after a person attends a class reunion.
As your agents attend holiday parties and social gatherings, some dissatisfaction may start to germinate.
It’s a great time to ask: “How do you feel like the last year went for you?” or “Do you feel hopeful for the year ahead?”
The objective is to have these discussions with your agents BEFORE they start having them with your competitors.
