It’s tough being a leader right now, amid the uncertainty of Brexit and a post-election crisis. How can leaders in real estate hang on to their top talent when we’re in such a state of flux?
Whilst there’s no easy answer, here are my top 5 points to bear in mind when it comes to staff retention across real estate:
1. Opportunity comes above location
Don’t take it for granted that people want to come and work in London just because it is an attractive city.
Career-orientated high achievers will have more loyalty to a company than a country. Unless tied to a specific location for family reasons, then job opportunity comes above location.
2. Show loyalty
There is a lot written about staff loyalty, but it needs saying again: loyalty is strongest when it is reciprocated.
With the increased use of technology and globalisation it can be difficult for big businesses to nurture staff and create what feels like a family.When times are uncertain with a rocky roads ahead, loyalty is the glue that binds people together.
3. Provide room to grow
If you want top talent to stay here then you need to offer truly exciting careers and a dynamic environment to grow.
4. Make the workplace attractive
A stylish and flexibly designed office goes a long way to help retain staff. Common sense enough, but often over-looked.
5. Culture is key
Ideally your business will have a culture centred around a strong sense of ‘team’ that carries through to how performance is rewarded.
Winning team cultures that breed loyalty see everyone rewarded in the business’s successes, not just the person closing the deal.
It’s worth bearing in mind also that a certain level of people churn is a good thing.
There’s always short-term pain and stress when someone leaves, but long term, so much to gain.
By giving others opportunities to grow or step-up into a role with more challenge and responsibility, staff movement can encourage a positive shift in perspective, productivity and performance.
Max Shepherd is a Director at Holtby Turner Executive Search – a specialist in senior level appointments within real estate. The largest specialists in the industry, they cover the full spectrum of the market, from property companies and advisors through to fund managers and corporate occupiers.