With the New Year well and truly upon us, (some of us!) are making good on our New Year's Resolutions. For some, this might mean finding a new job.

A recent study commissioned by recruitment company,  Citrus Group, has revealed 22 per cent of Australians left their previous role due to lack of career progression, sending a clear message to bosses to improve employee retention.

Joint Managing Director of Citrus Group, Paul Smith, says the study proves what we already know - that employees value career progression and job flexibility.

"The results of the study signals a clear area for leaders to improve on in their own workplaces," Mr Smith said.

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"High staff turnover can be extremely costly for businesses, and so leaders should look to creating workplace environments that support staff retention.”

Cunninghams Real Estate and Morton are two real estate agencies who are at the top of their game when it comes to effective employee retention. 

WILLIAMS MEDIA spoke with Ewan Morton, joint managing director of Morton, and John Cunningham, owner and principal director of Cunninghams Real Estate, to find out what employee retention strategies they use. 

Offer job flexibility

In the study, 22 per cent of Australians cited job flexibility as the most important factor in the workplace, while 12 per cent said the option to work from home was even more important. 

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"Clearly, job flexibility needs to be a top priority for all managers. By allowing staff to work from home, implementing flexible working hours or job sharing, staff work-life balance will improve, in turn increasing productivity, job satisfaction, and company success," Mr Smith said.

Ewan Morton, joint managing director of Morton agrees. 

Foster employee development

"Our research showed that 14 per cent of Australians felt that career progression and a clear career path was most attractive to them when choosing a workplace, signalling the need for great leaders to provide just that," Mr Smith said.

"By taking a keen interest in each staff members’ professional development and career goals and giving them clear guidelines, they will achieve these, great leaders can create teams that feel acknowledged and supported in their growth, which is key for a thriving team."

Mr Morton says fostering employee development is something he takes very seriously

"We have a performance review system - in that review, they're also given a development plan so we can work out what training and skills they require. That is becoming more tailored to an individual," he told WILLIAMS MEDIA.

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Mr Cunningham says if employees don't feel empowered, it will be evident in their work.

"The number one thing we can do as a business and as team leaders is to develop empowerment pathways for our team members. Without a clear understanding of the vision and direction of the business, team members will not be willing to follow the dream and get involved," he said.

Create a supportive and positive workplace culture

According to the study, 13 per cent of Australians cited bad culture as a top reason for leaving a previous role.

"As we know, culture comes from the top, thus managers are crucial to creating inclusive and supportive teams. Some ways of doing so are ensuring you hire people who fit in with your culture, having cultural ambassadors within your team, creating a positive environment, and encouraging social connections," Mr Smith said.

Mr Cunningham told WILLIAMS MEDIA creating a supportive workplace culture is how he ensures employees remain engaged at work.

"Having a culture that embraces and celebrates both participation and performance means that everyone in the team, from the front desk to the leading sales agents, are recognised for their skills and commitment to clients, community and the team. That is how our awards are structured," he said.

Set out clear expectations and provide feedback

At Cunninghams Real Estate, Mr Cunningham says effective employee retention starts immediately.

"For us, retention starts right at the beginning of the working relationship during the recruitment phase. It is critical that expectations are clear from day one, and that both sides understand what is expected. When this is done well, there are limited disappointments as the relationship develops."

Provide further training/education opportunities

Mr Cunningham says it's important to embrace change in the property industry, which means ongoing training and education is crucial.

"We also have a firm belief in training, coaching and mentoring and have a structured regime that ensures we are always challenging the status quo and embracing change at every opportunity. Having the team understanding that we are always looking forward means that change is so much easier to implement."

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Mr Morton says a common reason employees leave a business is because they feel they can't grow their skill set further.

"We try and think about the best interests of the person. They will stay with Morton for as long as it's in their best interest to do so. If someone can't get a promotion with Morton or grow their skills, then, of course, they will go elsewhere, so we're very realistic about that. We think about what is in their best interests, and sometimes leaving us is in their best interests."

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Related reading:

How to work with a recruiter to land a job in real estate

Job seekers beware: Red flags that scream "don't take this job!"

New Year, new job: How to write the perfect resume