I started in real estate in 2005. I didn't have a CRM, an email address or social media. I learnt how to list & sell real estate and build relationships in the way of the world according to 2005.
But, it's 2023 now and we need to appreciate that times have changed & the way people expect to be treated has changed. We can like it or hate it, but that's the way it is and if you want millennials to continue to grow your business, you need to understand this.
The workforce landscape has evolved, employers in various industries must recognise and adapt to the changing needs and expectations of millennial employees. Unlike previous generations, millennials prioritise work-life balance, flexibility, and purpose-driven work, and these factors are crucial in attracting and retaining top talent in the industry.
Millennials, have grown up in a world shaped by technology and have different expectations from the workplace to what we did 20 years ago. That's not to say they are entitled, selfish or arrogant. It's just the world they have grown up in and how they see it.
Employers need to recognise that they are not just doing employees a favor by hiring them, but rather, employees have choices and are looking for workplaces that meet their needs and aspirations.
We, as business owners have the choice to move with the times and better yet, learn from them on how to grow in today's world or stick to our guns and inevitably become extinct.
There is a notable shift towards a more compassionate, empathetic, and understanding approach to culture within the office.
This change is being driven by a variety of factors, including evolving employee preferences and expectations, societal shifts, and the increasing recognition of the value of building long-term relationships in business.
Millennials are accustomed to a fast-paced, dynamic work environment that embraces innovation and flexibility. Employers must be willing to create a work culture that promotes collaboration, creativity, and continuous learning to attract and retain millennial talent.
Over the past few years, the expectations of employees, especially millennials, have undergone significant shifts. Millennials seek the freedom to work from anywhere and expect companies to provide remote work policies or flexible scheduling arrangements.
Companies that do not adapt to this changing trend may find it challenging to attract and retain millennial employees who prioritise work-life integration and flexibility in their careers.
Let's look at a few key points that millenials are looking for in the workplace today.
Compassion, empathy, and understanding are essential traits that enable professionals to connect with clients and colleagues on a deeper level. By understanding their needs, emotions, and challenges, business owners can tailor their approach and offer personalised solutions. This not only helps build trust but also establishes long-term relationships based on mutual respect and understanding.
Emotional intelligence, or the ability to recognise, understand, and manage one's emotions and the emotions of others, has gained significant recognition in recent years. Research has shown that emotional intelligence is a key predictor of success in the workplace, including the real estate industry.
Real estate professionals with high emotional intelligence are better equipped to handle the challenges of the industry, including dealing with difficult clients or negotiating complex transactions. They are also better able to navigate conflicts and build effective teams.
Compassion, empathy, and understanding are central to emotional intelligence as they involve being attuned to the emotions and needs of others, and responding with empathy and kindness.
Changing Expectations of the Millennial Workforce. The workforce in the real estate industry, like in many other industries, is increasingly being dominated by millennials. This generation of workers values empathy, authenticity, and purpose in their careers more than ever before.
They seek a workplace that aligns with their values, provides opportunities for growth and development, and allows for work-life balance.
Real estate professionals who embody compassion, empathy, and understanding are more likely to attract and retain millennial team members. They are seen as authentic and genuine leaders who care about the well-being of their team members and prioritise creating a positive work culture. This not only helps attract top talent but also fosters loyalty and commitment among team members, leading to increased productivity and success.
Building a Positive Reputation and Brand Image. In today's hyper-connected world, a company's reputation and brand image can make or break its success. Customers, clients, and employees are increasingly drawn to companies that are seen as ethical, socially responsible, and compassionate.
Real estate professionals who prioritise compassion, empathy, and understanding in their interactions with clients, team members, and other stakeholders are likely to build a positive reputation and brand image. This can lead to increased referrals, repeat business, and a strong online presence, all of which are critical for success in the real estate industry.
Enhanced Team Collaboration and Productivity. The old school sales mentality often focuses on individual performance and competition among team members. This can create a toxic work environment that fosters a cut-throat culture, leading to high turnover, low morale, and reduced
Changing Consumer Preferences. Millennials today are more informed and empowered than ever before. With easy access to a wealth of information online, they are no longer willing to be pushed into making rushed decisions by aggressive sales tactics, intimidating interviews or sales meetings. They value transparency, authenticity, and trustworthiness in their interactions.
Societal shifts are also contributing to the rise in the real estate industry. As our society becomes more diverse and inclusive, there is a growing awareness of the importance of empathy and understanding towards individuals from different backgrounds, cultures, and experiences. This awareness is influencing all aspects of life, including the business world.