Nothing is more frustrating than executing the recruiting process flawlessly, and then seeing your new hire fail to launch and experience success on your team.
We call these “failed hires”, and they ought to be avoided at all costs.
On our team, we define a failed hire as someone who joins the organization and leaves within 90 days.
It’s common for real estate companies to experience a new agent failed hire rate of 25% or higher.
If you’re struggling with failed hires, there could be several factors contributing to the problem.
One issue worth addressing right away is the first impression your new hires experience on or shortly before their first day on the job.
Here are some best practices for making the most of your new hire’s first impressions:
Send them a thank-you note. Immediately thank them in writing for accepting your offer. Also reinforce the decision in that note by reminding them that they have chosen wisely by listing the factors that make your firm outstanding.
Send them a startup package. The start-up package should include things, such as, frequently asked questions, a number to call if they have any questions or concerns, and a checklist covering everything to do–up to and including their first day.
Post a joining announcement. Announce they are starting at your firm on your social media pages and Twitter. This creates positive peer pressure.
Introduce them to their mentor. This shows them you’ll be supportive from the start. Have the mentor make contact and begin helping the new hire on or before the first day.
These best practices demonstrate your positive belief in the new hire’s decision to join the team and increases the chances they’ll follow through on their commitment.
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On the Sixth Day of Christmas, Recruiting Insight gave to you…the CoRecruit Group Coaching Program designed for large brokerage and franchises.
The main advantage of Group Coaching is that it costs 50% less than one-on-one coaching. Because the hiring results are similar, the first year ROI is typically 10X and beyond. Take a look to see if this would work for your organization.
