As many of you know, we work with a lot of real estate companies. More specifically, we help these companies design their hiring systems to significantly increase the number of candidates they are interfacing with on a weekly basis.
Companies hire us to do this work because, on the surface, it is difficult to successfully attract candidates into an industry that has been so battered and bruised in recent years. To be successful, we must understand and apply the psychology of work.
While there is some complexity to how this is done, one principle we observe continually is that people innately want a connection between the effort they put forth and the reward (compensation, recognition, perks, etc.) they receive for completing the job.
When the effort-reward connection is missing, talented people become frustrated and ultimately, dissatisfied with the companies they work for. We constantly interface with people who have good jobs, excellent educations, and above average competencies, but are deeply frustrated that they are not rewarded for their efforts.
The real estate industry certainly attracts the people who most acutely feel this pain. However, it should be a red flag to anyone who desires to preserve their job and grow their career. Why? Because businesses tend to value people they believe contribute directly to the organization’s success. That value is communicated through a visible effort-reward relationship.
If you find yourself in a role where you don’t frequently get recognized (via compensation or otherwise), it is an indication that your contribution is not viewed as valuable. This may lead to you being laid-off if your company needs to cut expenses.
To combat this situation, look for opportunities in your existing organization where your efforts can be noticed and rewarded. Don’t wait for something to come your way—be proactive and seek out new responsibilities. Like the principle of autonomy, this is a win-win for you and your employer. Your personal sense of well-being will increase if you’re appropriately rewarded for your efforts.
If you’ve already been laid-off and you’re looking for a job, consider positions where there is a direct connection between effort and reward. This may force you to look into some nontraditional areas of employment.
If you’re willing to consider these nontraditional areas, there is a win-win here as well. Lots of people shy away from jobs where their performance determines their paycheck. This means there is less competition for these jobs. If you’re motivated and “wired” to perform the tasks associated with the job, high performance in such a role can lead to job satisfaction beyond what you’ve experienced in the past.
