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 Joshua Harris, Ph. D., CAIA Director, Dr. P. Phillips Institute for Research and Education in Real Estate.

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Presentation on theme: " Joshua Harris, Ph. D., CAIA Director, Dr. P. Phillips Institute for Research and Education in Real Estate."— Presentation transcript:

1  Joshua Harris, Ph. D., CAIA Director, Dr. P. Phillips Institute for Research and Education in Real Estate

2  Attracting – Finding the Best ◦ Making Your firm “Attractive” ◦ Announcing Your Openings ◦ Getting Quality Referrals  Retaining – Keeping the Best ◦ Why do people stay? ◦ Why do people quit?  Developing – Making the Best, Better ◦ Why to invest in your people

3  FACT – There are firms in every industry/market that people just WANT to work for!  FACT – There are also firms that people dread the idea of working for!

4  People want to work for the “best”  We gain social proof by our associations (i.e. job)  Your firm needs to offer more than just “jobs”  The higher in thought leadership, the more attractive the firm  Pay is wayyyyy overrated!!!!!

5  The best jobs and best candidates are matched via an informal market, not career builder  Make sure those most influential in your industry/market know you are hiring  Allow industry colleagues advance notice before posting  Make the opening “exclusive”

6  Successful people like to help successful people  Encourage colleagues to always send talent that is looking, whether you have an active opening or not  Make relationships with industry group leaders, trade associations, and professors in your market  Always be willing to “meet” and “mentor”

7  An uncomfortable truth, if you want to keep the best, you have to get rid of the rest  Part of retention is being able to properly reward those whom perform  Having low performers helps NO-ONE

8  Love the culture  Love the excitement and culture  Feel that they are family  Have opportunity to contribute  Have opportunity to profit  Feel fairly compensated AND/OR Appreciated!!!!!

9  Feel slighted or mistreated  Not proud of firm or job  Don’t like those around them ◦ A Competent Jerk is many times more dangerous than a Lovable Fool  Feel like job security is threatened

10  Always remember, ALL of your employees are acting as your firm’s ambassadors 24 hours a day  If you encourage development, you get retention as a bonus!

11  Continuous learning ◦ Crosstrain (people find this fun) ◦ Seminars and Certs (i.e. IREM!!) ◦ Sponsor/scholarship to degree programs ◦ Bring in speakers and trainers ◦ Encourage conference attendance

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