Retention of Employees / Net Growth

#1

I lost two BDMs over the past two weeks which has hit my confidence a little and made me take stock and reflect. In doing so, I came across this little gem…I really like it and thought you might all get something from it too. Given that retention of employees is critical to net growth, it’s something that I’m getting my head into. Thanks to @sarah for getting me onto Redii too!

I particularly like the ‘cost calculator’ for losing an employee and the estimated % of employee salaries to determine same.
https://cdn2.hubspot.net/hubfs/2139084/Redii_E_Books/redii-ebook-dont-leave-me-this-way-lowres.pdf?__hstc=26241314.85d3938f4eb6da7d91fb90ae9ad039cb.1549339452076.1549339452076.1549339452076.1&__hssc=26241314.2.1549339452078&__hsfp=626072061

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#2

I totally know how you feel, losing employees is so tough and its impossible not to take it personally… But it always opens so many new doors. When I lost my team I thought the world was ending but it turned out to be a really positive change.
Its just because your changing things for the better Jods, anyone would be so lucky to have you as their leader <3

#3

Loosing employees can be one of the most frustrating parts of being in business, especially if you are one of those employers who is keen to develop their staff along the way. Even when selling a rent roll we find that the property manager is just as important as the rent roll because of the employees knowledge of the properties and the owners, yet many times once they are told the rent roll is being transferred they go a find a new position with someone they don’t know anyway. So frustrating. It is interesting that it isn’t usually about the money , it can be personals issues or a lot of time it seems to be the perception that there is a better career path or a better culture at the other end.
It has been said that there are three things you need to keep upfront with staff.
1 “Regular Recognition”, especially for a job well done.
2 “Culture” people want to be part of a feel good office with positive outlook and activity.
3 An understanding that there is a “Career Path” that they can pursue within the organisation.

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#4

Great tips Chris - your top three are spot on. I like to think of it as people want to be valued, work with people they like and grow personally and professionally - which is exactly what you’ve said. So important to get this right.