When it comes to hiring in the CRE brokerage industry, there are a lot of mistakes that could cost your business time, money, and even clients. In this blog post, we’ll be looking at the top 10 hiring mistakes that are costing CRE brokerages money.
1. Not Having a Clear Job Description: Not having a clear job description can lead to a lot of confusion and ultimately, a lot of wasted time. If you’re looking to hire someone, make sure you have a detailed job description that outlines exactly what you’re looking for and what the job entails.
2. Not Checking References: Before you hire anyone, it’s important to check references. This will help you get a better understanding of the candidate’s background, experience, and how they may perform in the role.
3. Not Having a Standardized Interview Process: Having a standardized interview process is key for any business when it comes to hiring. This will help you ensure that all candidates are treated fairly and that you’re getting the best possible hire.
4. Not Utilizing Technology: Technology is changing the way businesses operate, and you should be taking advantage of it when it comes to recruitment. Utilizing technologies like AI and machine learning can help automate the hiring process, saving you time and money.
5. Not Thinking Ahead: When it comes to CRE, the industry is constantly changing. When it comes to hiring, make sure you’re thinking ahead and hiring for roles that will be needed in the future.
6. Not Considering Cultural Fit: Cultural fit should always be taken into consideration when making a hire. Making sure your employees fit in with the company culture can go a long way in ensuring a successful hire.
7. Not Following Up With Candidates: It’s important to follow up with candidates after the interview, even if they don’t get the job. This will help you build relationships and even potentially hire them in the future.
8. Not Having a Retention Plan: Retaining your employees is just as important as finding them. Make sure you have a plan in place to ensure that your employees are happy and staying with the company.
9. Not Offering Competitive Salaries: In the CRE industry, salaries can vary greatly. It’s important to make sure that you’re offering competitive salaries so you can attract the best candidates.
10. Not Having an Onboarding Process: An onboarding process is key to ensuring that new hires are properly trained and prepared for the role. Make sure you have a process in place to ensure a successful onboarding.
Hiring mistakes can cost CRE brokerages a lot of money, but by following the tips above, you can ensure you’re making the right hires for your business.