How to Recruit, Hire, and Retain Employees
Some of the biggest challenges not just where to find the person, but it’s also about how to hire them, how to pay them, how to incentivize them, and keep them on board and keep them retained.
𝐉𝐨𝐢𝐧 𝐎𝐮𝐫 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐆𝐫𝐨𝐮𝐩
iAnd so this is what this podcast is all about. If you’re trying to grow your and scale your business. If you’re at that place, then I want to talk about that. Now, if you are not yet watching my podcast episodes right there on YouTube, go to youtube.com forward slash Justin Colby, and subscribe. I dropped three podcast episodes a week right here on YouTube. And I dropped three more videos all pertain to business, real estate, and entrepreneurship. So make sure you subscribe, make sure you like give me some feedback. Now with that out of the way, let’s talk about what’s really, really important to a successful real estate investor. And that’s going to be their ability to be a leader, the ability to be able to not just hire someone, not just train someone, but also retain them. You see, the biggest thing I’ve seen over the years, while coaching high level real estate investors is their lack of ability to grow in genuinely scale, not in deal flow. But in people. Now, even that, I would tell you, some of it is they actually grow in scale and people but they do it so incorrectly. It’s not sustainable, right, their profit margins just dropped drastically. And so I actually had an incredible conversation today. As a matter of fact, this is why this subject has come up with a woman by the name of Tiffany, hi, she’s phenomenal. And she actually focuses heavily on this within her organization and teaches others how to effectively hire, scale, train and retain individuals in the space. And I coach, very high level people how to do this as well. But Tiffany and I had a great conversation because we actually believe this to be one of the biggest missing links for real estate investors, active real estate investors who are actively doing deal deals on this is that one of the biggest links on missing links on how actually they can get to the next level. Right. So I have, you know, students who want to be solopreneurs, they enjoy it. Because if they stay small, they keep it all they might do four or 500 grand a year. But they’re keeping 80% of that in their pocket. And there’s nothing wrong with that. But they do essentially all the work, I can think of one specifically that I coach, and he doesn’t want to grow a big team and he he wants to have an assistant and himself and that’s great. But if you’re looking to get closer to that seven figure mark a year or higher than it is virtually impossible for you to do it alone, you need to have the skill set that it takes to find the right person, hire the right person, train the right person, and then continue to keep them bought into the vision buy into the ability that you have the vision that you have to to stay for years, right Anthony is a great example. He’s been with me now, going on seven years, maybe even a little longer. Not many people don’t have that they don’t have the leadership capability, or they don’t have the opportunity to generate for someone to stay on that long. So let’s talk about a great book. Good to Great, right, what a great book because really what that book highlights is finding the right person for the right seat. That is one component of this. If you are trying to hire someone that is not a natural, let’s just say sales person, but you need some help on the acquisitions of homes, but you’re hiring someone because you know you like them, or whatever. And you’re forcing them to be in the sales position because that’s what you need. But they’re not really that outgoing, you know, sales type of person, then using something like the disc test can be awfully valuable. And there’s a lot of personality assessment tests, let’s just use the disc because I think it’s one of the highly most recognized one. If they aren’t a D a high D, they likely shouldn’t be in the sales position. Likely now they might be able to fit in there and many people can be chameleons. But if you’re hiring someone because you liked them and they interviewed well, and you’re putting them into a sales position, you need to make sure you are actually bringing that person into an opportunity to succeed, right? That’s one of the biggest things that I see all the time is, you hire someone because maybe they interview Well, maybe they say the right things, you give them the job opportunity. But really, they’re a better operation, maybe they have better spreadsheet ability, management ability, operational skill set, but you like them. And you’re like, you know, this is the person that I want, you know, helping me out with sales, or vice versa, right, you hire someone that to help your operations, but they’re really not that organized. They’re much more visionary creative D type personality on the disc test, and you just have them in the wrong seat, right. And so that really is highlighted in Good to Great, right, making sure you hire the right person and put them in the right seat. But even more importantly, is you need to make sure you do a good job training them. And a lot of people, especially in our space of real estate, they bring them in, they spend a couple days with them. And they say, Okay, you got this. And that’s it. And then they is the owner, they go about their day and in all the other tasks they have to do, because they’re the owner, and they go about their day, and essentially, just trust that that person has it. That’s not how you train, it’s not how I would advise you to train. First of all, you need to give someone at least a solid week of shoulder to shoulder training right along with you with everything that you are doing, you then need to let them integrate into what you do. And let them incrementally start taking over some of those things like, let’s just say starting them to make that first call back to a lead. Maybe they don’t take it the whole way. But they are the first call back instead of you. And you incrementally, incrementally allow them to take over some responsibilities, and then you have to give them feedback. And so that should take another half a week to a full week by slowly, incrementally bringing them into your business. Now your two weeks in now is when you just need to make sure you’re running morning or daily meetings. I have a good friend named Sean, really good friend. And he goes by the weekly company meeting. And I don’t know if I fully agree with this anymore. At one point I did we have an overall company meeting. But every day aquisitions has a morning meeting. And the reason being is we want to know how many leads they have how many leads are working, how many are in follow up, is there anything I or Anthony can do to get them across the finish line in terms of helping the seller sign the contract? Do we need to try to structure something a lot more creative for them? And so we actually daily tried to help them based around all the things that we want, meaning are all the things that really matter how many leads how many offers, what offer, you know how many people are warm, how do we get more offers out. And we want to measure to that because if we measure to it, we will get the results. They know that they’re being watched, right. And so we have daily meetings when it comes to acquisitions. In my opinion, people don’t do that well enough, they actually don’t get into the trenches with their team because they feel like they’ve hired now it’s time to go create more opportunity in reality is they’re harming themselves because they pulled themselves out of likely a very highly revenue generating activity like sales. And now they’re not managing daily to it. You see, there’s a big difference between being a manager and being a leader. And usually, the creatives, the people that start the business, the entrepreneur, they have a hard time managing I being one of them. But I can be a great leader. So I need to make sure I have a great manager that is in place so I can manage to the correct numbers. So all this being said is an a way to help retain people and get them trained, because if you can get them trained well enough, which takes a lot more time than you think. So I caution everyone here about growing and scaling and hiring. If you can get them trained well enough, then you can have the opportunity for them to stick around for quite some time. And then in terms of where you hire these individuals, I love hiring within my sphere of influence within my network, whether it’s friends, family, or otherwise, my filmography, videographer you might call her she’s sitting right behind this camera. She came through my friend network, Anthony came through my friend slash colleague network, Isaiah came through one of our other acquisition, people, Jake came through a person, a colleague of mine, and all of those people essentially found my need. When I needed to find someone, I put it through my social media networks. And it was just because I kept talking about it. And that is my best utility for hiring Now, can you use indeed, can you use Facebook? Can you use other platforms to put out there that you’re in search 100% but for me, I really want someone who can believe in the system believes in me understands opportunity, and then I can train and if I can do that, most of the time I find it directly through my network.
Now Now, with all that said, Guys, as I mentioned, Tiffany is the best of the best at this, I highly encourage anyone just reach out to me, I can get you in touch with Tiffany. And as a matter of fact, if you need any help growing and scaling your business operationally and you have any interest in me coaching, you just go to the science flipping calm and fill out a quick, simple form. Some of my top advisors will talk to you about whether we’re going to be a good fit, and we can take from there but I’d love to help coach you to grow and scale your business because what got you to your first check is not the same thing that’s going to get you to your 1,000th check. Your 1000 check is something that has to do a lot more with teams than it does you so hopefully this helped you guys I will see you and I will talk to you on the next podcast episode. Peace.