Purpose
My mission is to make real estate the happiest industry, and according to a study by Career Bliss, we're closer than I thought. I'd like to believe this, but I have doubts.
Larger studies by the Centers for Disease Control and the Bureau of Labor statistics tell a different story, where 85% of agents leave the industry before the 5 year mark, and where as a demographic we exhibit elevated rates of divorce, substance abuse, and suicide.
The Career Bliss analysis is seven years old, so it might just be outdated, but they looked at very relevant markers: One’s relationship with the boss and co-workers, work environment, job resources, compensation, growth opportunities, company culture, daily tasks, and control over the work done does on a daily basis. Those are salient metrics, but they left out one big one: Purpose. They didn't address the question of purpose, which is a crucial factor for sustainable job satisfaction.
In a recent article, Forbes cited a study by Mercer which identified purpose as one of the three factors today’s employees and job-seekers are looking for in a company (the other two were permanent workplace flexibility and a commitment to health and well-being). Purpose is what gets real estate agents through the first two grueling years of the business, where the annual median gross income is less than $10k. Purpose is what inspires an agent make sacrifices and venture out of their comfort zone and into success, gratification, and happiness.
From the Forbes, article:
“In order for employers to provide purpose to employees, employers should:
Create a company vision
Show recognition
Let employees know how their job impacts the company and its clients
Frequently discuss the meaning and value of the company
Share customer success stories
Ditch tunnel vision and focus on the bigger picture”
Agents, do you have a strong sense of purpose? Brokers, how are you providing purpose to your agents?