Studies have shown that the first days in any business pretty much determine success AND retention. But, do brokers pay attention to this critical time in an agent’s career–or not? What was your experience?
What does new agent onboarding and training have to do with retention? According to two recent studies—a whole lot! The new fifth edition of Up and Running in 30 Days, my new agent’s business start-up plan, has just come out. Dearborn Education is the publisher. There are many updates in this edition. Included in these updates are conclusions from these studies—conclusions that support the importance of starting each new agent with a proven lead generating plan.
(To see the updates in Up and Running in 30 Days, 5th edition, click here).
In this blog, I’ll address some of the results and its ramifications for real state agents and companies–from the survey published by the Society for Human Resource Management (SHRM).
Why Bother with a Great Onboarding System?
Because you’ll have much great retention! According to the SHRM study, companies that leave onboarding to chance experience higher than 50% failure rates when it comes to retaining new talent.
Question: Did you experience a great orientation system? Are you leaving anything to chance? did you feel like you were in a fog for the first few months?
If you want a ‘template’ and suggestions of what should be included in an office rientation, click here.
Those New Hires ‘Check Out’ Fast! (Faster than you Think!)
According to the same SHRM survey, 67% of millennials are already thinking of looking for their next job on day ONE!
Question: On day one, how was your relationship with the office cemented: Did you feel really welcome in your new office?
Tips for Those First Critical Seven Days: (Pass These On to your Manager)
- Manager sends a welcome email to new agent on day one.
- Each day’s activities are completely outlined so the new agent knows exactly how to proceed (you’re building in habits of success).
- The first week’s activities include shadowing and lunch with one of your senior colleagues.
- Welcome gift given to the new agent on day one.
- End of first day checklist completed with manager
- Round table or lunch set up with your influential agents to welcome the new agent
- Use a detailed, prioritized action-plan checklist, like Up and Running in 30 Days, to assure the new agent knows exactly what to do, how to do it, and is held accountable to it.
Outcome: 69% of new employees are more likely to stay more than three years if they’ve experienced a well-structured onboarding program.
So, how does your onboarding system stack up? What do you need to do to be sure you’re organized, systematized, and ready to take your career to the next level?
Or, do you even have a plan? It’s estimated only about 20% of real estate agents make it to year two! And, the biggest reason is NO PLAN! Why not grab the business start-up plan that’s been used by thousands of new agents to launch–or re-launch a great career. Click here for the all-new 5th edition of Up and Running in 30 Days.