How to Dramatically Increase Company Morale (& Hold Onto Your Best Employees for Life!)

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Recently, I’ve set a goal of reading two books per month.

It’s been going really well, and I feel like I’ve been learning a ton!

Last month, I read a book that was really impactful called The Dream Manager by Matthew Kelly.

You know, I’ve been in the process of really scaling my company and growing my team, and this book completely changed the way I relate to and interact with my staff.

How I Bought, Rehabbed, Rented, Refinanced, and Repeated for 14 Rental Properties

This is the dream right? Going from zero to 10+ rental properties, providing stable cash flow and long-term wealth for you and your family, and building a scalable business model to boot! Learn how this investor did just that, in this exclusive story featured on BiggerPockets!

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How One Company Solved a Massive Turnover Problem

The book tells this intriguing story about a janitorial company that had a massive turnover problem. I know firsthand how time-consuming and expensive having to train employees is, so this really related to me.

The top executives of this company were looking at their turnover problem, and they wanted to figure out how to retain their employees for at least three years.

So they began thinking about the aspirations of their lower-level staff.

“Do cleaners and janitors have dreams?” they wondered amongst themselves.

Their hypothesis was that if they did, and if they as a company could help their employees reach those dreams, the employees wouldn’t end up leaving so quickly.

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So they ended up hiring this role within the company called the “dream manager,” who was solely dedicated to serving this hypothesis. He would routinely sit down with all the employees and first discover their dreams, and then he’d come up with a plan for achieving them.

A lot of the employees’ dreams were to become first-time homeowners, but where they’d run into problems was with bad credit, so the company ended up creating an entire credit management program just to help employees get qualified for a loan.

The impact this had on the company was unreal!

Related: 4 Steps That Prove You Can’t Afford Not to Hire Your First Employee

A Complete Shift in Morale

Once the employees knew that the company they worked for had interest in them and their aspirations, let alone that they would go to great lengths to help them achieve those aspirations, it completely changed the morale of the company.

People began to take a personal pride in the company, and productivity went through the roof.

The company reached a record low employee retention rate.

It was truly incredible!

This got me thinking a lot about my team, and even writing this today, I get the overwhelming desire to structure something like this in my business.

Since reading this book, every week I’ve tried to meet with someone on my team one-on-one in order to discuss their dreams and aspirations, and I’ve already begun to see the impact.

Today, I wanted to share the story of this book to encourage you on two different fronts:

1. For Newbies

If you are brand new to real estate investing, maybe hiring a team seems too far fetched for you to even think about.

But what about you? What dreams do you have? How can your business be used to achieve your dreams?

I’d encourage you to sit down at least once a month and revisit your dreams and to keep track of your game plan on using your business to reach your personal aspirations.

If you do this, you’ll end up finding yourself living a dream you could’ve only imagined before.

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2. For Established Real Estate Investors

For those of you who are in my boat and are in the process of scaling (or even just thinking about scaling), take this to heart: Invest in the dreams and aspirations of your employees.

Develop a culture in your company where you as the leader have a heart to invest into the lives of those following you. That way, they will feel like they belong, and they will be able to clearly see how your company can be the vehicle to accomplishing their personal life goals.

That way, they won’t leave, and they’ll be more likely to serve your company with their best foot forward.

I guess this post can be summed up as this: If you care about your people and they know it, then they in return will care about you and your company.

We are no longer in the days where people will be happy just showing up, doing their job, and going home. Especially with the Millennial generation, the next wave of the work force needs to know what they’re doing matters and that you care about them individually.

Related: How and When to Start Hiring Employees for Your Real Estate Business

They want to be known as team members and not just numbers on a pay roster. If you want your company to thrive, you need to invest and recruit A-players, and if you do that well, your company will become something so amazing that you can’t even put words to it.

I know that today’s post was short, but I hope this impacted you as much as it did me.

Do any of you have some business or scaling tips that would be worth sharing?

Let me know in the comments section!

About Author

Brett Snodgrass

Brett Snodgrass is a licensed real estate broker and wholesaler who hails from the Indianapolis metro. His mission in life is to glorify God by serving as many people as he can through his real estate business. He has a pretty active community growing on Facebook and is also the founder of SimpleWholesaling.com Come check it out now and connect!

9 Comments

  1. Scott Trench

    I love this concept. I think it’s important to understand also that what you are likely doing in many cases is taking someone who may or may not have goals, and helping them develop them for themselves.

    When you go from having no goals, or no ability to articulate and consistently work towards those goals, to having a clear path and objective in mind, life seems to consistently become easier, happier, and more satisfying. The same for the workplace. A workplace full of people who know exactly why they are there, where they want to go, and how that company is the best path for them to take to get to their end goal is a workplace full of productive synergy and positive flow. Not just a place where you are the highest bidder with the best perks.

    Also – the flip side of this is that when folks don’t have goals, or don’t have goals that align with your company, then the hiring decision is much easier.

  2. cory mccarthy

    Love this article. In my first meeting with a contractor that I wanted to work with who I knew did great work, was reliable and fairly priced, I spent some time inquiring about his dreams. Turned out, at one point in time, he started investing on his own and did well on one or two, but then came the crash and he got burned. Hasn’t invested since, but the desire is still there. I showed him the impact of doing a fast flip vs. a slow flip and holding costs involved. I went on to suggest that if I figure every flip to take at least 90 days and he can get them done quicker than that, I will split the difference with him and give him an option to either take the cash right then and there at closing or roll it into my next project as an equity partner. I expect it to likely cost me five hundred to a thousand or so every flip, but will help us both realize some additional profits, which I am more than willing to share. I have yet to find a flip yet that we can make work together, but he has been eager to attend several showings with me to work on the numbers. I am confident we will have a long and successful run together and one day, he will likely be a 50-50 partner with me on some portion of my business.

  3. Peter Mckernan

    Good thoughts on getting your team to be motivated beyond just money, because as you know money is very low on the motivational scale when it comes to self fulfillment! There are so many other factors that drive people to be a successful and motivated employee (i.e. feeling their work is impacting the course of the company, employee recognition, and being apart of the bigger plan of the company). It seems that you have picked up these ideas perfectly!

  4. Lisa Bryant

    Brett- a great article and it is simply put. How you lead and treat people will impact your life and their lives forever. Making a difference is the blueprint living well!
    Keep building…

    Learn, Apply, Produce!

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