Training and development

Answer

Training and development

Organizations have different strategic training and development initiatives for their employees and customers. Some notable and successful organizations listed in different magazines such as Training Magazines have adopted these initiatives contributing to their success.  This paper discusses the strategic training and development initiatives adopted by Keller Williams Reality Inc., a top company.

Keller Williams Reality Inc., (KW) is among the leading powerhouse international real estate companies with fully fledged 790 operational offices globally, with approximately 134,000 real estate agents (Keller Williams, 2017).  The company came started its operations in the year 1983 under two able founders; Joe Williams Gary Keller. The mission of the company is to build businesses worth owning, career worth having, and improving the lives of its clients spread across the markets. It is guided by values pegged on respect to Almighty God, appreciation of family and God, then business (Keller Williams, 2017).  KW prides itself as one of the entities that have experienced steady growth in the real estate sector. Meanwhile, from 1991, when it began franchising, it has expanded to various states in US, Indonesia, Canada, Dubai, Southern Africa and Vietnam. The company deals in real estate franchise and global residential real estate brokerages services. In 2011, the company managed to beat Century 21 taking the second position in terms of the real estate market share in US market rewarding its stakeholders.  The company has maintained its superb performance topping most of the lists in the Magazines on various fronts more so, on training and development initiatives (Keller Williams, 2017).  To depict its leadership, the company has become one of the referent points as most real estate professionals turn to it for coaching, education, culture, technology and wealth building opportunities. For instance, an agent branded phone apps have been developed as well as videos for the associates to enhance the learning and training process (Keller Williams GCNE (2015).

The organization has managed to excel and remain at the top in training and development due to various factors. One of the factors is the belief system that defines what they are and where they want to be. The organization belief system is based on integrity; always doing the right thing, win-win; they enter into deals that are beneficial, customers; they prioritise their customer before anything else, commitment; is committed in all things they do, communication; focus or aims at understanding the issues before reacting or taking a  course of action, creativity; generating ideas that lead to positive results, teamwork; appreciating that working together leads to achievement of the goals, trust; being honest; and lastly success; achieving results through people.

The organization appreciates the important of people in achieving their goals hence, the reason for investing in human capital. Secondly, is the supportive culture that has provided an opportunity for associates as they are given tools at learn on ways to build a stronger business (Keller Williams, 2015). This aspect has made training and development one of the key concerns. A point to note in Keller Williams training and development initiatives is that their training is normally tied to the business objectives, putting to consideration the number of the trainers, employee turnover and retention. Substantial budget is also used to facilitate the training to equip them with appropriate skills and knowledge. Training includes class and online, meaning it has embraced technology infrastructure.  The company used employee satisfaction surveys, competency maps, and individual plans. Employees’ involvement in training has also impacted on the company training initiatives. For instance, a program aimed at building future leaders offers an opportunity for agents interested in pursuing opportunity in franchise leadership  to pursue and gain skills in that line. Getting agents involved in the training, technology, resources and services makes them appreciate hence, retains them. The value they accrue through those trainings therefore acts as a motivation. The company further renews its training programs including training materials, to ensure that effective models and systems remain. It also designs programs targeting the leaders and agents with successful track record. Training program dubbed, ‘market of the moment’ plays a fundamental role in empowering its agents across the world to enable them become experts in their areas of jurisdiction.  These associates have a wide array of training and coaching that they select from to help them grow at individual level and professional levels. They become more productive and achieve high profits.

 The company as well, has reserved a budget to carry out training and development concerns of its associates and agents. For instance, in the first quarter of 2017, because of the trainings, the company brought on board more than 159,501 associates and recorded an estimated increase of 4,337agents across the globe (Keller Williams, 2017). 208,168 transactions were closed by agents a 14 per cent increase over the first quarter of 2016 (Keller Williams, 2017).  Franchise owner profits in first quarter grew up to 19.5 per cent compared to 2016 first quarter which as at $34.3 million (Keller Williams, 2017). Furthermore, profit share increased by 22.4 per cent compared to 2016 which was at $29 million (Keller Williams, 2017).

Different organizations have different Training and development functions (TD) that provides guidelines on how an entity should carry out its training based on different attributes or factors in place. Organizations models that entities use do vary (Training Industry, 2017). One of them is centralized training organization whereby a single unit has the responsibilities to manage processes and resources. In such entities, all reports are directed to the senior manager. Decentralized training organization allows training functions to be carried out by a certain entity independently through an enterprise (Training Industry, 2017). The company uses this model because it is large and is spread across the globe. Hence, sometimes, the contents are developed to cater for a specific defined audience. Federated model allows centralization of some processes of the training function with the enterprises and at the same time decentralising others. It also uses this model because of its large size. It therefore, it centralises processes associated with training administration while decentralising processes that pertains or associated with content development and delivery.

The company uses training needs analyses (TNA) to identify performance gaps as it allows the stakeholders-agents and associates to provide their point of views. It analyses the market conditions through surveys and them develops programs and courses that equip them with requisite skills that enables them to be business winners.  The company uses BOLD (Business Objectives, Life by Design) model to ensure financial success for its associates.  The agents undergo a seven week long course that helps them improve their profits. After the course, commissions increased to 16 per cent with 98 per cent of the KW offices making profits. The course help increase productivity of agents as it involves mind-set exercises, real play lead generation lessons and language techniques that prime them. Students are allowed to call customers and are expected to produce real business. They are guided by their instructors. Leaners are talk in teams of ten by highly seasoned agents and instructors. Averagely, an agent that has pursued the course performs 12 transactions and is able to generate $60,000 in commissions (Keller Williams. (2016).