Archive for onboarding
Onboarding: Those Critical First Seven Days
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Onboarding: Those critical first seven days. Find out why that first week is so critical.
First: What does new agent onboarding and training have to do with retention? According to two recent studies–a whole lot!
In this blog, I’ll address some of the results and its ramifications for real state 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: Do you have a great orientation system? Are you leaving anything to chance? Does your new agent feel like he/she is in a fog for the first few months?
If you want a template and suggestions of what should be included in your orientation, click here.
Those New Hires Check Outa There 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:
Tips for Those First Critical Seven Days:
- Manager sends a welcome email or snail mail (better) 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. (If you have an advisory council, this is a perfect match!)
- 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 have experienced a well-structured onboarding program.
So, how does your onboarding system stack up?
Find out: Regularly survey your agents who have been with you 6 months to find out what they found valuable and how it could be improved. Why not have the best onboarding/retention system in the industry?
A Survey for You to Use: Next
In my next blog, I’ll share the survey I just did in an office where I’m consulting on their onboarding system. Boy, did I get some great feedback!
How’s Your Quick-Start Program Working?
Both these onboarding studies prove that leaving the new agent’s orientation, training, and start to chance just doesn’t cut it. Take a look at what’s new in Up and Running in 30 Days: updates in 5th edition. This invaluable book is only $32.95 plus shipping, and has been used by thousands of new agents to launch successful careers. Order here.
What could your retention rate be if you had a superior onboarding system?
Managers: How Would You Rate your On boarding?
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How would you rate your on boarding program for your new agents? I mean
1. your initial orientation procedure (do you have one)
2. A coach or mentor to work with that new agent from day 1
3. A start-up plan initiated from week 2
4. A training program to support the start-up plan–starts in their week 2
Go through each of these and rate yourself. Interestingly, few companies even have a complete on boarding program.Instead, they have a checklist that they go through with the new agent. Then, they explain that training will start in 4 weeks. Woops! My studies show that the majority of new agents expect a SALE within 4 weeks! So, if they’re not lead generating from week 2, how in the world will they get that early success?
The most important part of the on boarding process is the start-up plan. Do you have one? What’s your ‘bottom line’ for anA�ideal start-up plan for a new agent? Many managers tell me they don’t want to hire new agents because they’re too much work–and, too many of them fail. True. Yet, on the other hand, managers find it difficult to recruit seasoned agents who fit their profile, culture, and standards. One answer to this dilemma is to develop a start-up program for new agents that avoids the pitfalls associated with hiring new agents.
The Ideal Porgram Should Assure…
1. The new agent will succeed–fast (not this normal 50% failure rate!)
2. The new agent is directed by the start-up program–not a situation where the manager has to re-invent the wheel with every new agent
3. The manager doesn’t have to invest hundreds of hours in a new agent–only to find that agent fails
4. There’s direction from a ‘trusted advisor’–an outside coach, to save the manager’s time
5. There’s coordination and interaction between the ‘trusted advisor coach’ and the manager, so the manager isn’t left out of the loop
6. The new agent is challenged by meaningful activities leading to a sale, not just unprioritized busy work
What other goals should your ideal program provide you?
RefiningA�My Start-Up Plan
I’m doing the fifthA�edition of my best-selling start-up plan for new agents, Up and Running in 30 Days. I want to assure that it fulfills all the goals above–and the goals you have for me. A�Want to give me some feedback? Here’s aA�manager or owner questionnaireA�for you. Get it back to me by May 20, 2016. If I can, I’ll include you in quotes in the new edition, out in early 2017. And, of course, you’ll receive a complimentary copy of the fifth edition!
Want to share your observations? Click here for that questionnaire.