In such a competitive landscape, it’s not enough for your property management firm to attract top talent. You also have to find a way to keep them engaged and on-board for the long-term. Otherwise, you’ll be dealing with costly and time-consuming turnover. Talent management goes well beyond the HR function and extends to every person in a leadership role within your organization. Are you prepared? Let’s find out. To follow are 5 talent management tips to help get you pointed in the right direction.
There’s a relatively new term being passed around the business realm called “working out loud.” Today’s workforce has come to expect leadership to be transparent in the way they work. Gone are the days of top-secret board meetings and keeping subordinates at arm’s length. Effective leaders are open and honest about what they’re working on and why.
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Along with transparency comes clear communication. If you want your employees to perform well, make sure they understand exactly what’s expected of them. More importantly, make sure they recognize the role they play in terms of your organization’s strategic goals. When workers know their performance will have a direct impact on the business, they’ll be more committed to the cause.
Keep an Open Dialogue
Remember that feedback is important – both good and bad. Let your team know when they’re doing a good job, not just when they’ve done something wrong. Provide ongoing coaching and be there when your employees need you.
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John Maxwell once said, “Leaders become great, not because of their power, but because of their ability to empower others.” You shouldn’t have to micromanage your employees to get them to perform. In fact, if you choose this tactic, you’ll likely drive people away. Identify the individual strengths in your employees and find a way to foster those strengths through empowerment.
Communication and feedback go both ways. Ask your employees what they think or how they feel about their jobs. Encourage creativity and out-of-the-box thinking. If a team member has an idea on how to do things better, be open and willing to listen. The more people feel as though their thoughts, opinions, ideas and perspectives matter, the more in tune they’ll be with your organization as a whole.
There’s no magic formula for managing talent, but the above tips should at least get you headed in the right direction. Just remember, the more effort you put into honing the leadership within your property management firm, the more likely your employees will be to stay loyal and committed to making the company a success.
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