As Gallup highlighted in the State of the Global Workplace 2023 Report, “quiet quitting” is a pressing issue across all industries, including real estate. It is characterized by employees who, although technically present, are mentally disengaged, stressed, and heading toward burnout. Notably, these disengaged employees, often due to minimum effort, cost the global economy $8.8 trillion annually.
For real estate professionals, this disengagement can translate to poor customer service, low-quality work, and diminished team morale, impacting the agency’s reputation and financial health. However, this problem also represents a significant opportunity for real estate leaders to step in, improve engagement, and drive productivity and economic growth.
As a leader in the real estate industry, you have the potential to influence your employees’ workplace experience drastically. Research suggests that 70% of team engagement variation is determined by managerial action. Thus, managing “quiet quitters” effectively is crucial to your team’s success. Here’s how you can approach this:
Observe
Look for shifts in your team’s attitudes, behaviors, and performance. Changes in these areas could indicate disengagement. If an employee seems withdrawn or performs poorly, don’t ignore it. Instead, recognize these signs and prepare for a candid conversation about their experiences.
Communicate
Set up individual meetings with suspected “quiet quitters.” Foster an environment where employees feel safe sharing their concerns. Ask questions about their feelings towards their work, motivation, work environment changes, and work-life balance. This can reveal underlying issues and show that you are invested in their well-being.
Personalize Solutions
Tailor solutions to the unique needs of each team member. In real estate’s fast-paced, high-stress environment, issues like overwhelming workload and lack of work-life balance are typical. However, solutions should not be generic. Please work with your team members to develop strategies addressing their circumstances and improving their engagement.
Set Clear Expectations
A lack of perceived growth opportunities often contributes to “quiet quitting.” Make sure your team understands the benchmarks for progression in their roles. Outline key milestones, establish clear KPIs, and define what constitutes exceeding expectations. Consistency and transparency in these expectations can prevent feelings of unfairness and demotivation.
Recognize Achievements
Recognizing your team’s efforts and successes can significantly increase their engagement. Studies suggest that employees are 2.7x more likely to be highly engaged when they believe their work will be recognized. In the competitive real estate industry, where success often depends on sales, acknowledging the hard work behind each achievement can go a long way in improving morale.
Follow Up
Finally, checking in regularly with your team members after discussing potential solutions is essential. Monitoring changes in their behavior and maintaining an open line of communication will show your commitment to their well-being and can help mitigate the risk of further disengagement.
Therefore, tackling “quiet quitting” effectively can significantly enhance productivity and drive growth in your real estate business. By fostering open communication, personalizing solutions, setting clear expectations, recognizing achievements, and consistently following up, you can improve your team’s engagement and create a more positive, productive workplace environment.
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