WorkPuzzle

Talent Pipelines: The Future of Experienced Agent Recruiting--Part 3

I’d like to finish up the discussion we started last week on the use of talent pipelines for experienced agent recruiting.  If you’re just jumping into the dialog, you may want to read the previous posts (Part 1, Part 2).

The basic premise of our discussion is the assertion that most experienced agents will want to know what it's like to work in your organization before they will even consider leaving their current company.  More specifically, they must be assured that their personality and principles are aligned with your organization's culture and values so they will be comfortable in its work environment and able to continue their career success by performing at their peak.

One of the ways to do this is through the creation of a private social network.  I’ve already had several questions from readers on what is a private social network and how could you (as the manager of a real estate office) possibly create one.

What is a private social network?  When most people think of online social networks, they think of companies like Facebook, LinkedIn, Twitter, Google+, and hundreds of others.  Click the picture on the right to view an infographic that lists many public social networks and categorizes them by function. 

A private social network is different.  A private social network is a place on the internet that you “own” (or rent) and control.  One of the best examples of these types of networks are country music bands.   For example, take a look at the Zack Brown Band.  His fan club is actually a private social network (in his case, he charges to be part of it).

You don’t have to be famous to have a private social network.  There are many small neighborhoods that have social networks through a company called NextDoor.  If you like cooking, you might want to join BakeSpace, as a private social network for people who share your interest.  If you attend a large church, it probably has a private social network for those associated with the church.  A good example in Seattle is the private social network of Mars Hill Church.

In essence, a private network can be built around any topic, group, business, etc.  The only prerequisite for a private social network is having enough participants who share a common interest who are willing to participate in online conversations and sharing.

How do you build a private social network?  Building an online social network for your office won’t be as easy as joining one, but there are many “off-the-shelf” options available if you want to give this a try.  Visit this site to see a list of more than 50 companies who offer private social network software.

Here are some of the more well-known companies who offer products for building online social networks:

Jive

Ning

SocialCast

OneSite

Yammer   (in the news a lot lately because Microsoft just bought them)

While these companies are trying to make the process of setting up a private social network quick and easy, it does take some technical expertise to make it happen.

How do you administer and operate a thriving private social network?  This is a topic that we’re going to take on in future WorkPuzzle discussions.  In short, getting something established is the easy part.  Creating a social network that is full of life and activity will be more difficult.  More on that to come…

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Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.

Talent Pipelines: The Future of Experienced Agent Recruiting--Part 2

Last week, we started a discussion about the role of a talent pipeline for recruiting experienced agents.  I referenced Peter Weddle's recent article on this topic to illustrate how most hiring managers misuse talent pipelines.  By focusing on the wrong tactics, (hard-sell promotions and relentless invitations to join your "great organization") most talent pipelines produce poor results.

Weddle goes on to suggest that to make a talent pipeline effective, you must change the focus of the pipeline to so that it answers the question that most competitive experienced agents want to know:

"The best talent wants to know what it's like to work in your organization.  Before they will even consider a job, they need to have a sense of what their employment experience will be like.  To put it more bluntly, they must be assured that their personality and principles are aligned with the organization's culture and values so they will be comfortable in its work environment and able to continue their career success by performing at their peak.”

Let's assume that this is the new and improved goal of your talent pipeline.  Now here's an important question:

How do you make this a reality in your real estate office?

One answer to this question (and there may be many more) is social networking.  In fact, online social networking may be the highest and best use of the medium for the purpose of recruiting.

Think of it this way--if a competitive agent wants the information outlined above, how could they possibly gain this experience?  

One way would be to sneak up to the window of your office and watch you do your work during the day.  If candidates were able to see how you manage your office, observe how you interact with those you coach, and see how conflicts were resolved among those on your team, they might get a better idea if they would be a fit in your office.

Obviously, that is not going to happen literally.  But, what if it could "virtually" happen through the creation of an online social network?  I'm not talking about Facebook, LinkedIn, Twitter, or any of the other public social networks, but instead a private social network that is a virtual representation of your physical office.

If you (the hiring manager of your office) were the online community manager of your virtual office and all your agents were the members of your social network, it wouldn't be much of a stretch to invite those in your extended network (including competitive agents) to also become members of your social network.

From this perspective, it wouldn't be hard for a competitive agent to get to know you, the support staff, and the agents who are in your office.  And from this safe location, they can start to evaluate if "their personality and principles are aligned with the organization's culture and values..."  

Next time, I'll finish us this discussion by outlining some of the important components of a private online social network.

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Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.

Talent Pipelines: The Future of Experienced Agent Recruiting

If you’re a regular WorkPuzzle reader, you know that I occasionally share some insight from Peter Weddle.  Peter recently authored a book called WorkStrong: Your Personal Career Fitness System, and writes a blog (also called WorkStrong) to support his publishing effort.

While these are great resources, I still seem to gain the most insight from his “old-fashioned email newsletter” that he publishes twice a month.  While the delivery method of this publication may seem a little “old-school,” the ideas he presents are often way ahead of their time.

This is exactly the case for his most recent newsletter regarding the future of recruiting pipelines.  Here is some of what Peter had to say:

“What's the number one problem with today's talent pipelines?  Attrition.  According to research, the number of people bailing out of recruiter-built networks typically reaches forty percent or more each year.  Given the time and effort required to load a pipeline, that's a huge loss for any organization.

Unfortunately, for many organizations, a talent pipeline is simply a resume database redux.  Oh sure, today's pipelines are built on social media sites like Facebook or LinkedIn, but there's very little social activity actually going on.  In fact, if there's any communications at all with the people in the pipeline, it's either repurposed job postings or hard sell promotions designed to drive traffic to the organization's website.”

Peter goes on to ask an important question:  What is the ideal purpose of a talent pipeline?

If the goal is to just provide a passageway for candidates to move from a passive to an active candidate state, then the results will always be mediocre.  But, if the goal is to provide skilled agents from competitive companies a way of experiencing your organization, then your talent pipeline could become the best tool in your recruiting toolbox.

Peter explains why this small distinction makes such a significant difference:

“[Talented individuals] are almost always employed, so to recruit them, you must get them to do the one thing we humans most hate to do: change.  You have to get them to leave their current employer, turn down offers from other employers and accept a position you're trying to fill for your employer.

That outcome simply will not occur with repurposed job postings and hard sell promotions.  In fact, research indicates that the single best trigger for motivating change among passive, high caliber candidates isn't requirements and responsibilities, but reality - a reality they have the time to recognize and appreciate.

The best talent wants to know what it's like to work in your organization.  Before they will even consider a job, they need to have a sense of what their employment experience will be like.  To put it more bluntly, they must be assured that their personality and principles are aligned with the organization's culture and values so they will be comfortable in its work environment and, able to continue their career success by performing at their peak.”

Read the first sentence of that last paragraph again…"The best talent wants to know what it’s like to work in your organization.”

Providing this experience is the ideal purpose of a talent pipeline.

In our next discussion, we’ll learn how most companies make some common mistakes in trying to make this happen, and how you can avoid them as you start to use this important tool in your recruiting efforts.

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Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.

Treat Candidates Right--Even Those You Turn Away

Your recruiting efforts may have a more significant impact than you think.  We can all agree that successfully managing a candidate pipeline will result in high-performers choosing to employ their talents in your organization; That's a win for your organization and an automatic loss for your competitors.  

But, what about those candidates who are not a good fit?  Treating them right takes more thoughtful effort and purposeful goodwill.  These interactions also have a significant impact on your company’s reputation.  More specifically, the way in which these candidates are treated on the phone or via responsive emails will eventually flow down to who they choose to do business with when buying, selling, or referring a company for their next real estate transaction. 

Below is an excerpt from an article written by Margaret Heffernan, entrepreneur and author.  She articulates well what we already know to be true...it is not just the hire, it is also the relationship that benefits the company.

“Seize the moment to build your firm's reputation.  Treat all job candidates well during and after the interview process.

Even with high unemployment, leading firms work hard to position themselves as the employer of choice for top candidates.  They spend a fortune doing so--through on-campus visits, conferences, sponsorships, advertising, and search firms.  What's so striking to me is that they waste all that money, but miss seizing the crucial moment:  the in-person candidate meeting.

It's almost schizophrenic, the passion with which top firms woo--and then lose interest in--new-hire candidates.  Once these individuals come in for an interview, the tables are turned, the selling process stops, and the employer metamorphoses into a very demanding customer and the previously-cherished candidate is suddenly treated like a petitioner.

For those who aren't selected, the process is invariably worse.  They have invested a great deal of time, energy, and attention in a job they didn't get.  And even then they may be left guessing for weeks since, these days, almost no one seems to send out rejection letters or explanations.  How can firms who treat people this way expect any outcome other than having now created a large number of people who cordially hate them?  All that initial salesmanship-and the only legacy is one of distrust and disgust.

It doesn't have to be this way.  Much of the feedback that's generated can, and should be shared.  I can hear human resource executives complaining that they don't have time, but here's the question:  After the fortune invested in recruitment, do you want to turn failed candidates into adversaries or evangelists?  It's a choice.  Treat candidates--successful and unsuccessful ones--well and they can become your sales force.  Assuming you've interviewed and tested strong, capable people, they are capable of building your reputation.  But only if you deserve it.”

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Editor's Note: Lee Gray is the Senior Account Manager at Tidemark Inc. Lee is a guest contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.

Why Scripts Might Kill Your Recruiting -- Part 2

In my last blog, I shared with you why many of the tips being written regarding how to recruit Gen X's will (in my opinion) fail.  Many such tips focus on how Gen 'Xs are "so different than the rest of us."  In my opinion, this is very dangerous thinking.  To summarize, I said that if scripts are used to replace the fundamentals, like showing curiosity about a person's story, not only will they not work, but they will actually turn candidates off.

Whether you recruit or sell, the art of fully understanding a person's pain is ALWAYS the most important thing for you to master...and the quest for this information is never as simple as a script.  The following interaction is a great example of the power that can be gained, just by learning about your customer.  The strategy this salesperson uses can be applied, not only to sales, but also to recruiting, dating, marriage, raising children, and almost any credibility building activity.

Last Saturday I ventured into a golf store with the intention of buying golf shoes that I had seen on sale in the Seattle Times ad section, listed for $59.  I was in the store a total of 30 minutes, and left with $200 Ecco golf shoes, and I was happy about it.  How on earth did this happen?  

The sales guy never approached me with anything resembling a script.  He did not sell.  Instead, he allowed me, first, to try on the cheapy golf shoes I had seen in the ad, while he began to ask a series of very important questions in the most natural and unassuming way:

"How many years have you been playing?" (answer = since I was 10 years old)

"How old are you now?" (Answer = 52)

"How many pairs of shoes have you bought in those 42 Years" (answer = 4)

"Why are you buying now?" (answer = I am sore the next day when I walk a golf course with my existing twelve-year-old shoes).

All that remained to do was help me connect the painfully obvious logic that my cheapskate mind was avoiding:

"So let's see...If you are not going to buy another pair for ten years, and you play 15-20 rounds of golf per year, and prefer to walk, then even if you get the Ecco golf shoes (the easiest on the feet) - You'll only be paying an additional $1 per round of golf for enormous comfort, for the next ten years."  

Hmmm...  He practiced what most salesmen forget -- understanding the pain and the resistance before offering a solution.  He would NEVER have been able to sell me those shoes without asking me that list of questions.

I'm not saying that scripts don't have their place.  Of course they do.  But, I am witnessing a trend where they appear to be replacing the fundamentals.

So what questions do you ask?  Why are you asking them?  Everyone has varying needs, pain, and resistance...and you don't know this information, until you begin asking.

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Editor's Note: This article was written by Dr. David Mashburn. Dave is a Clinical and Consulting Psychologist, a Partner at Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.

Why using Scripts might kill your recruiting

I realize that using scripts for both selling and recruiting in the real estate industry has been one of the most sacredly protected principles over the last century.  I recently read a fairly long list of scripts used for both selling and recruiting, and found myself bristling at the thought of having someone use them on me.  I'm not sure that they would work.  In fact, I'm pretty sure that they would turn me off.

Now, maybe I'm more hypersensitive than most to being treated like a "target" rather than a person...but I don't think so.  I know that what I am about to say, I have said before, but I will say it again:  People want and need to be understood in every human interaction. 

In the May 21^st and May 28^th editions, I shared a fairly in-depth backdrop to the topic of how to build attunement in order to build attachment.  But, contrary to what I was saying...if, on the other hand, a manager focuses on scripts without a deep understanding of how Attunement and Attachment fit into recruiting and retention, then their "pitch" will never be accepted by the smartest people. 

Much of what is being written about tips on how to recruit Generation X's will (in my opinion) take many managers off into the weeds when trying to recruit.  Many of these tips focus on how Gen X's are "so different than the rest of us."  In my opinion, this is very dangerous thinking.  If we try to get "tricky" with trying to pitch to Gen X candidates in the "right way," we miss the point.  And the point is:  Human nature NEVER changes!!  

There are far more similarities than differences between every generation, and most psychological research would confirm this.  The common denominator that we all need to know is that people want to be attached to leaders who are genuinely curious about who they are, and what they want.  They want leaders who are willing to teach them what they know, and who will mentor and speak into their lives, and/or introduce them to existing successful peers who can do this.  One of our clients, when interviewing a new agent candidate, routinely calls an existing (successful) agent that is within that person's age group and gender, to be at the office at the time of the interview.  Simple, but smart! 

In the next edition, I'll share with you another theory I have about the difficulty with hiring Generation X candidates, and tell you an interesting story about a golf store salesman who practices much of what I've shared above. 

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Editor's Note: This article was written by Dr. David Mashburn. Dave is a Clinical and Consulting Psychologist, a Partner at Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.

Why Facebook Will Always Underperform as a Real Estate Sales Tool

I came across a new technology a few weeks ago that I found to be profoundly interesting.  This is a little off topic from what we normally discuss on WorkPuzzle, but I think you’ll find it thought-provoking as well.  It concerns eye-tracking software.

While this technology has been around for awhile, it is becoming more useful to marketers because of companies like EyeTrackShop.   

This company has learned to harness the little webcams that are now nearly ubiquitous on laptops.  When marketers want to test an ad, they send it to EyeTrackShop and the company distributes it to thousands of volunteers/affiliates around the world.  In turn, the testers look at the ad while the software automatically tracks where their eyes naturally focus.  

For example, the ad below was recently submitted for testing.  The heat-map demonstrates where the consumers’ eyes focus as a person views both versions of the ad.

Ad example courtesy of FutureNow/ Bryan Eisenberg

As the red (hot) areas indicate, the ad on the left is much better at getting the consumers' eyes to focus on the product and the message.  Even small changes, such as where the model focuses her gaze, can make a significant difference in the effectiveness of an ad.  EyeTrackShop can complete research like this in just 48 hours, giving designers quick feedback on how to tweak their ads to make them most effective. 

Here’s another example:  One of the questions we often get in our business of recruitment advertising is…Why don’t you use banner ads to attract people to your recruitment opportunities?

We know these types of ads are not very effective because we’ve tested them.  But, now we know why they are ineffective.  Look how an average consumer views these three web pages:

Ad example courtesy of Jakob Nielsen/useit.com

The three examples demonstrate what happens during quick scanning, partial reading, and thorough reading.  Those green boxes are banner ads of various types.  The consumers' eyes have been trained to totally ignore these. 

So, what does this have to do with Facebook and real estate?  I’ve noticed over the last few years, that there are many real estate companies that are being encouraged to embrace Facebook (and perhaps other social networks) as a way to market to potential real estate clients. 

My question…what can eye tracking technology tell you about the effectiveness of such a strategy? 

Here is how the human eye processes a typical Facebook page:

 

Image courtesy of EyeTrackshop/Mashable

You’ll notice right away that pictures draw most of the eye’s attention in Facebook.  Once a picture grabs a person’s attention, the verbiage around the picture is then more lightly consumed. 

Many business strategists believe this is the reason that Facebook bought Instragram a few months ago.  Pictures are clearly the definitive “killer app” on Facebook, and having a “picture only” social network gain traction so quickly was a threat. 

What does this have to do with real estate marketing for agents?  I would argue that the large majority of successful sales/marketing strategies on Facebook are going to involve the creative use of pictures.  Pictures will be the only reliable mechanism for attracting a person’s eyes and garnering their attention.  And I'm not talking about just any pictures—the images would have to be compelling and engaging to compete with relationship-based images (i.e. I’m interested in a picture because it is a friend, relative, or acquaintance.). 

This kind of marketing strategy and execution is difficult to both conceptualize and maintain.  While a few agents will be able to make it happen, most agents will struggle to be effective. 

So, next time some consultant tries to sell your agents a Facebook marketing package, you’ll be better equipped to qualify the promised benefit.  Ask your vendor if they have done any eye tracking analysis on what they’re selling.

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Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.

Books That Will Bring Out Your Inner Entrepreneur

A couple of weeks ago, I challenged you to start evaluating your candidates from an entrepreneurial perspective.  If you missed this discussion, here are a couple of links (1,2) that will get you up to speed.

The line of reasoning in these previous discussions was…if a person approaches becoming a real estate agent from a traditional job perspective, they will not be well-equipped to make the sacrifices and overcome the obstacles to be successful under the current marketing conditions.  The solution?  Find and/or inspire candidates to think like entrepreneurs. 

As I continued to noodle on this topic, it occurred to me that many hiring managers in the real estate industry may be a little rusty on this topic.  While many managers went through a start-up phase when they first became agents, for most that was many years ago.  And while most managers are successful day-to-day business operators, a large majority are running mature offices that are beyond the start-up phase.

So, could you use a little brush-up on what goes through an entrepreneur’s mind?  If so, I would suggest taking a look at the list of books below.  This list was put together by Aimee Groth and Kim Bhasin—both staff writers for BusinessInsider.   

They qualify their selections by saying, “ …we go through dozens of books each year here at Business Insider's War Room.  Many aren't worth a second glance, but there are some every business owner should read.  So, we've put together a list of the best books for entrepreneurs — either from our own recommendations or touted by big-time VCs, CEOs and startup founders.”

Here's the list:

1. "Predictably Irrational," by Dan Ariely
2. "The Four Steps To The Epiphany," by Steve Blank
3. "How to Change the World," by David Bornstein
4. "From Resource Allocation To Strategy," by Joseph Bower
5. "Losing My Virginity: How I Survived, Had Fun, And Made A Fortune Doing Business My Way," by Richard Branson
6. "How To Win Friends And Influence People," by Dale Carnegie
7. "The Zigzag Principle," by Rich Christiansen
8. "The Innovator's Dilemma," by Clayton Christensen
9. "Good to Great," by Jim Collins
10. "The Startup Game," by William H. Draper
11. "Innovation and Entrepreneurship," by Peter Drucker
12. "The Ascent Of Money: A Financial History Of The World," by Niall Ferguson
13. "Never Eat Alone," by Keith Ferrazzi
14. "The World Is Flat," by Thomas Friedman
15. "The E-Myth Revisited," by Michael E. Gerber
16. "Outliers," by Malcolm Gladwell
17. "All Marketers Are Liars," by Seth Godin
18. "The 48 Laws of Power," by Robert Greene
19. "Delivering Happiness," by Tony Hsieh
20. "Steal Like an Artist," by Austin Kleon
21. "Founders at Work," by Jessica Livingston
22. "How Successful People Think," by John Maxwell
23. "The Smartest Guys In The Room: The Amazing Rise And Scandalous Fall Of Enron," by Bethany McLean and Peter Elkind
24. "Zen and the Art of Motorcycle Maintenance," by Robert Pirsig
25. "The Lean Startup," by Eric Ries
26. "Start With Why," by Simon Sinek

No doubt you’ve probably read some of these books already, but I would guess that there are at least a few that are new to you.  As a summer reading project, I suggest selecting at least five books from the list that you’ve not read yet, and try to get through them by Labor Day. 

Doing so will help you increase your own entrepreneurial skills, and will enable you to better connect with candidates who would make good entrepreneurs in your office.

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Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. Comments or questions are welcome. If you're an email subscriber, reply to this WorkPuzzle email. If you read the blog directly from the web, you can click the "comments" link below.