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You’re Not Alone in Facing These 3 Staff Retention Challenges

Ahead of the ‘Top 5: Ways to improve staff retention in property roles’ tm:tv online episode at 12 noon on Tuesday 26th April, Dan Creed, HR Director at tmgroup, asked the panel “What are the biggest challenges facing property professionals right now in retaining their staff?”

Here’s what they said

#1 – “Other industries poaching our staff” 

“One of the biggest challenges facing property professionals right now in retaining staff is the fact they are being poached by other businesses. We were used to competitors taking staff but it’s different now as also other industries are poaching our staff too. Often they can also pay more. That is because, as we all know, vacancies are many and the workforce has contracted.

Not only that, but many of the skills we have as professionals, and that we teach, are transferrable skills. This used to apply mainly to management, but currently it can be seen at all levels. Often though, these companies may promise more on the surface, but it’s the culture of a business and the level of trust between people that really makes a workplace a happy place to be.”

With thanks to Glynis Frew, Group Training and Development Director at Hunters

#2 – “Adapting fast enough to keep employees happy”

“The challenges of the last two years have led to staff reflecting on what’s important to them – specifically the ways they work and who they work for. Our industry was pushed to its limit with the combination of the pandemic, lockdowns and stamp duty holiday. Conveyancers faced burn-out with unrealistic caseloads and many simply left the industry. 

The businesses that face the biggest challenges right now are the ones that are slow to listen to their employees and adapt to these different ways of working.  At Aconveyancing, the Investors in People accreditation and framework has supported the development of a more flexible workplace.  But we also recognise that the 9am-5pm model doesn’t reflect how people want to work in 2022, so we introduced a 4 day week to offer staff a better work / life balance. There’s not a ‘one size fits all’ model anymore and business leaders have to be prepared to adapt.”

With thanks to Natalie Moore, Director and Licensed Conveyancer at Aconveyancing

#3 – “Lack of opportunity prompting people to leave”

“Job role progression is a key focus for most younger aspirational employees. It is not a surprise therefore that in a recent Propertymark survey, people signing up for qualifications are mid 20s-mid 30s. If you want to retain good staff you need to invest in them, by offering good training and understanding their career goals. Lack of opportunity will mean people leave.”

With thanks to Charlotte Jeffrey-Campbell, Director – The Able Agent

Are these challenges keeping you up at night? Is your staff retention strategy in need of a spring clean? The tm:tv cross-property industry discussion series continues online at 12 noon on Tuesday 26th April with ‘Top 5: Ways to improve staff retention in property roles’ – brought to you by tmgroup, mio and Conveyancing Data Services (CDS). Click here to register.

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