Building and managing a productive team of satisfied employees is as important as it is challenging in the real estate franchise, as in any other franchise system. To consider the needs, wants and characteristics of each employee individually and thereby create the best conditions for efficient teamwork, requires a well-thought-out strategy in human resources management. Compared to an independent company management, franchisees as employers also have to pay special attention to finding the best possible solutions for their employees. In the following article, Engel & Völkers explains what you should pay particular attention to when it comes to the right leadership style, and how you can maximize the motivation of your employees to work.
The workforce of your franchisee does a dual work-psychological role: Primarily, your employees are part of your franchise and are directly related to their daily work, their colleagues, and the workplace. At the same time, they represent an established, mostly national brand and their philosophy with their work for the franchise system. Compared to employment in small or medium-sized sole proprietorships, the pride of being able to work for a franchise brand or a sense of responsibility in representation occupy a not inconsiderable position in the individual's work. Every employee deals with this situation differently, which is why, in your role as a franchisee and employer, it is important to be able to assess each member of your team individually. Ultimately, this will also be reflected in the long term success of your franchise investment.
But do you also know your own personality or leadership style as a franchisee? It has at least as much influence on the type and success of your HR management and should be taken into account in favor of constructive corporate governance. A sincere, full-fledged self-reflection can help you to maintain a neutral point of view in conversations with employees or in conflict situations. This way you can make objective and thus better decisions for your employees and thus your franchisee.
Based on these individual findings, you are now able to coordinate your staff efficiently and ensure the right motivation in the franchise system. Depending on how well you have met your employees, for example, you can create new teams with higher productivity, adjust working hours, or redefine key areas of activity. This way, you will make better use of the workforce of your employees, and at the same time increase the satisfaction of each employee, since their work will henceforth be more in line with their individual preferences. In addition, you can use appropriate incentives at the right time to increase the work ethic of your franchisees. Depending on the personality of the employee, these can provide a reward for good work in the form of days off, more responsibility or financial incentives for temporary additional increased motivation. In the long term, however, the holistic adaptation of work organization to the characteristics of your team is more effective, as described above.
With a partner license from the franchisor Engel & Völkers, you manage your own real estate shop in one of our attractive license areas in the most diverse countries. As a franchisee and manager, you independently regulate the size and organization of your estate agent team. In addition to the tips in this article, you also have the opportunity to participate in our regular seminars on personnel management within the framework of the Engel & Völkers Academy, and to further optimize your management style with regard to the individual situation. Would you like to learn more about the real estate franchise of Engel & Völkers? Click here!
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