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