As a branch leader, you know that the success of your agency depends on attracting and retaining talented salespeople.
In a highly competitive real estate talent market, it’s important you do what you can to retain your good performers.
To do that well, your efforts need to strategic (not random).
To get strategic about retention, start by working out the difference between acceptable and unacceptable resignations. And then you commit to getting better as a leader, so that unacceptable resignations don’t occur.
So let’s talk about the difference.
Discern the difference between acceptable resignations and non-acceptable resignations
Knowing why people leave will help you to get better at knowing what you need to do as a leader to create an environment where people stay.
As such, as a leadership development coaching company, we encourage our clients to discern the difference between those who leave because you didn’t do enough to stay – from those who would have left anyway for genuine and unpreventable reasons.
The number we care about is the ‘non-acceptable resignations’ – and their reasons for leaving.
Some good salespeople are going to leave no matter how good you are – or what you do. Maybe their wife gets sick – or they move cities to be closer to loved ones. These resignations you need to accept with dignity. There was nothing you could have done differently.
By contrast, non-acceptable resignations are the ones who leave because something you did – or didn’t do – caused them to become dissatisfied.
Maybe you didn’t support them enough.
Maybe you tolerate poor performance or unprofessional behaviour from their peers. Or maybe you were M.I.A. and they felt the impact of poor leadership.
If you have people leaving because your offer isn’t enough to have them stay, you need to look at it – and do the work.
Below is a list of common reasons salespeople leave agencies.
Which of these do you think are acceptable – or not? Which are unavoidable? Which represent a learning or development opportunity for the manager?
Common Reasons People Leave
- Despite trying hard, they didn’t perform well and needed to get another job
- Lack of structural tension in their goals leads to insufficient activity for success
- They are offered a better deal by another brand / manager
- They leave to start their own agency
- They fall out with their manager
- They feel unsupported by their manager / manager is missing-in-action
- They feel micromanaged and/or judged by their manager
- They fall out with a peer, and the issue was not resolved sufficiently for them to stay
- Professional non-compliance
How to Retain your Talent
The answer to how you retain people is very similar to how you attract them in the first place:
- Be a great leader and manager. Develop important leadership skills, keep working at them and commit to ongoing learning and development relevant to your role and leadership of your team.
- Cultivate a great team culture and an enviable place to work
- Look after and listen to your people
- Craft an irresistible employment offer – and make sure you deliver
- Set your people up for success
- Create a safe learning culture – and provide relevant, targeted learning and development opportunities to help them to reach their goals
- Address and resolve issues that arise quickly
- Go into bat for them with head office when policies, processes and technologies are making things difficult
- Invest money in making things easy for them
- Where possible, conduct an exit interview to learn from what went well and where you could do better
Retaining your talent isn’t rocket science.
Be a great leader. Build a great team. Deliver a great offering. Support and develop them. Rinse and repeat.
Know that some people will leave – and you’ll be gutted. Others will leave – and you’ll get to learn and get better over time.
We value your feedback. Is there anything you have tried and found works well for you? Feel free to leave your comments below.
Can we help?
If you’d like some help with any of the above, give us a call.
We work with branch leaders to help them to make more money, build kick-ass, high performing teams and win back some work-life balance in the process.
Want greater results from your team? Not sure how to get them there?
Book a Free Performance Strategy Session TODAY where we will…
– Take a good look at your current situation —what’s working and what’s not, so we know what’s going on
– Have a look at where you want to go and find out what’s possible
– Identify the one thing that’s been holding you back from higher performance and greater market share
– Map out a quick three-step action plan to get you started moving in the right direction
You’ll leave clear and confident and excited about taking your business to the next level.
To book your PERFORMANCE STRATEGY SESSION, email firstname.lastname@example.org