Commercial Real Estate (CRE) is fast-paced and demanding. And with these special challenges, it is
incredibly important that you build and retain a dynamic workforce through effective onboarding
practices. The way you onboard CRE hires has a lot to do with how well you will be able to retain these
team members, as well as how much their participation will impact your organization’s bottom line. So,
getting it right isn’t something you can afford to overlook.
As businesses in this industry face unique challenges, including high turnover rates, fostering a work
culture that attracts and retains top talent becomes paramount. This isn’t just a corporate buzzword.
Whether you’re a seasoned industry player or a first-time manager, the strategies listed below will help
you create an inclusive and supportive environment, reduce turnover, and ensure your new hires are
well-prepared to contribute to your company’s success.
Top 10 Keys to Onboard CRE Hires
- Prioritize Right-Fit Hires: Begin the onboarding process by ensuring you’ve hired the right people
for your CRE team. A mismatch in company culture, values, or skill requirements can make
onboarding irrelevant. - Streamline Hiring: Implement a highly effective and thorough hiring process from the get-go. The hiring process shouldn’t be a separate part of your business. Rather, it should align closely with your company’s culture and values and seamlessly feed into the day-to-day operations of your business.
- Be Ready from Day One: They say you don’t get a second chance to make a first impression. On the first day of a new hire’s journey, make sure their workstation is set up with all the necessary supplies and equipment. Don’t treat them like an afterthought!
- Cultivate an Inclusive Culture: Beyond competitive compensation, emphasize workplace culture. Make your CRE employees feel like they’re part of a family, not just a workplace. Clearly communicate your company’s dedication to diversity and inclusion.
- Build Trust: Trust is the cornerstone of any successful working relationship. Encourage employees to believe they work for the best company in the CRE field. Promote honesty and integrity in the workplace, and maintain consistency to establish trust in your company’s stability and longevity.
- Career Coach Approach: Show a genuine interest in your CRE employees’ career goals. Helping them align their personal objectives with their contributions to the company can lead to higher engagement and lower turnover. Encourage them to identify their strengths, interests, and learning opportunities within the organization.
- Create Meaningful Work: Employees need to find meaning in their work. Align new hires with roles that match their skills and aspirations. In a dynamic field like CRE, a good fit is crucial. This alignment fosters better integration with their teams, increases contribution to the company’s mission, and improves productivity and skills.
- Comprehensive Onboarding: Develop a structured onboarding program that covers the essential aspects of the job, company culture, and values. The onboarding process should extend beyond the first day, ensuring that new hires continuously feel engaged, informed, and supported as they integrate into the organization.
- Feedback and Evaluation: Implement regular feedback mechanisms to gauge new hires’ progress and satisfaction. This helps identify and address any issues promptly. Encourage open communication, so employees feel comfortable discussing their concerns and getting support.
- Mentorship and Support: Offer mentorship opportunities within your CRE organization. Seasoned employees can guide new hires, helping them navigate the complexities of the industry and providing emotional support. A mentorship program fosters a sense of belonging and loyalty.
Onboarding is Key to Future Success
When you onboard a new CRE hire, you’re not just showing them to their new desk. You’re carefully
following best practices to ensure long-term productivity and fulfillment. This isn’t a mere checklist, but
an investment into the future.
Follow these ten steps, and you can significantly enhance your onboarding process and create a
profitable future for your CRE business. This will not only reduce turnover but also create a more
inclusive and supportive work environment.
After all, in the competitive world of commercial real estate, this is key. Effective onboarding is a vital
step that helps build a loyal and dynamic workforce dedicated to your company’s success.
Sources:
– How to Inspire Higher Employee Retention – Building Careers (buildingrecareers.com)
– A Guide to Onboarding New Hires (For First-Time Managers) (hbr.org)
– The Cost of a Bad Hire and How to Get it Right | Building Careers, LLC (buildingrecareers.com)
– The Need for Diversity and Inclusiveness Leadership in CRE – Building Careers
(buildingrecareers.com)
– How to Find Fulfillment at Work – Building Careers (buildingrecareers.com)
– 14 Onboarding Best Practices (2023 Guide) – Forbes Advisor