Recruiting versus Talent Attraction?
August 14, 2011 Leave a comment
When you think of recruiting what service sector comes to mind? The Military
When you think of retention what service sector comes to mind? Prison System
So why is it that the real estate industry insists on recruiting versus attracting talent?
To begin this series of “Recruiting versus Talent Attraction” it is important to remember that many real estate managers have risen to the rank of manager from a former sales agent position. Most of these managers have not had proper training on how to attract talent to their company. Yet one of the most important positions they hold as a manager is “hiring manager”. They are required to build their agent roster on-going. Their directive is “recruit, recruit, and recruit more”.
Simply stated, recruiting is done when a company does not have the proper processes and systems in place to help them identify, capture and engage with qualified individuals. Because the company lacks proper planning and strategies they are often left with chasing talent which results in a constant revolving door and creating an environment of instability and a reputation that the company will of “hire anyone”.
To make matters worse as recruiting becomes more difficult for brokers across the country we are faced with yet another challenge, the ageing baby boomer generation. This generation makes up the majority of the real estate industry today with the average age of a real estate professional at 50+ years old. With more than 70+ million boomers nearing retirement, our industry is scrambling to replace the talent that is transitioning from the business.
By attracting talent versus recruiting bodies a company will build a stronger and more solid organization that can survive the ups and downs of a changing real estate landscape.
The hard cold reality is recruiting to the real estate industry as whole has been getting harder each passing year and it will take a different approach to attract the right talent. If you need to talk to someone about how you can restructure your processes and win the war on talent feel free to reach out to me directly.
