Did you know that only 13 percent of employees worldwide say they are engaged at work? That’s a real problem, especially considering that highly engaged organizations see an average of 10 percent higher customer satisfaction ratings and 20 percent higher sales. In other words, how engaged your workforce is can have a direct and powerful impact on your property management company’s bottom line. To prevent your firm from becoming another statistic, here are five things you can start doing today that will help keep your team engaged and loyal.
Make transparency a priority
One of the biggest reasons employees become disengaged is because they feel left out of the loop. To keep your team members plugged in, make sure that you’re sharing as much information with them as possible. In fact, the larger your property management company becomes, the more you should invest in communication and transparency. This ensures that every worker on the payroll knows what’s happening with the company and, more importantly, the role they play in achieving organizational goals.
Utilize the data at your disposal
If your property management firm is growing, chances are you won’t be able to gauge employee engagement and morale with a simple luncheon. As your business scales, you’ll need to find newer and more accurate ways of measuring the pulse of your workers. Thankfully there are plenty of tools and technologies available that can help you gather feedback and analyze data to gain insight into how your team is feeling about their jobs, management, salary, company culture and more. Take advantage of these things.
Celebrate wins – even small ones
Another major contributor to employee disengagement is the shift in feeling like a valuable member of the team to simply another cog in the wheel. To avoid this, make a point to call out wins and celebrate victories on a regular basis, whether it’s a simple shout-out in a team meeting or a formal email recognizing an accomplishment. When people feel important and appreciated, they’re much more likely to give it their all, which is better for them and for your bottom line.
Invest in onboarding
Get employees engaged right from the start by investing in the development and implementation of a solid onboarding experience. From day one, new team members should have a clear understanding of what their role is, what the expectations are and how their contributions will fit in with the big picture. They should be well-trained and armed with the tools, technology and support they need to excel at their jobs. This will set them up for success the moment they step through the door.
Provide growth opportunities
If your team feels as though they’re being passed over for outside hires, you can bet there will be quite a bit of grumbling as a result, and that’s not good for anyone. While there will certainly be times when hiring from within doesn’t make sense, it should be your first option whenever possible. Provide your team members with opportunities to grow, expand their horizons and develop new and better skills. Set measurable goals and help define career paths within your property management company. This will help prevent stagnation, keep morale high and also provide you with a pool of valuable candidates the next time a role needs to be filled.
Now, over to you. Are you killing it in your property management company? Think you have the secret to keeping employees happy, engaged and working to their fullest potential? We’d love to hear about it! Please share your insight in the comments section below.