Discussing Retention with Your Agents–Part 2

by | Nov 3, 2022

On the topic of employee retention, HBR reported:

Lifelong employment and loyalty are simply not part of today’s world; pretending that they are decreases trust by forcing both sides to lie.

As an alternative, some companies are starting to use a “tour of duty” concept to have productive discussions about retention.

A tour of duty covers a shorter timeframe but infers more commitment.

Broker Commitment:

I’ll pour support and resources into you for the purpose of making you a better entrepreneur, business owner, and agent.

Agent Commitment:

I’ll pour my talent and life energy into this opportunity for the purpose of growing your company and helping you accomplish your business objectives.

How long should a tour of duty last?

Most companies are asking for two to four-year commitments.

For real estate, the two-year end of that spectrum is probably more reasonable.

The tour of duty should also include an in-depth discussion at the halfway point to evaluate progress towards the objectives.

HBR concludes that business owners can’t build successful companies by expecting agents to make lifetime employment commitments.

But you can create a better working agreement than “every person for themselves.”


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