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How Your Property Management Culture Affects Your Bottom Line

By Jessica Galeano

How_Your_Property_Management_Culture_Affects_Your_Bottom_Line.jpgWe recently shared 5 signs that your property management culture is in need of an overhaul, but what we didn’t delve into much is the impact that the overall vibe around the office can have on your organization’s bottom line. You see, it’s not just about getting employees engaged and on-board with your company’s goals. It’s about creating a solid foundation of success. Without this, your profits will take a hit, but with the right culture, your company can thrive. Here’s how.

Positivity vs. Negativity

Seems pretty straightforward, yet you’d be amazed at the number of organizations still puttering along with a negative, toxic internal culture and doing nothing to change things. When the atmosphere is positive and upbeat, employees will want to come to work every day. More importantly, they’ll want to give it their all, which will drive the ongoing growth and success of your company.

Innovation vs. Stagnation

A positive culture breeds creativity and innovation. When employees are not just allowed but encouraged to share their ideas and collaborate together, amazing changes and dramatic improvements can be made to drive your property management business forward. When idea sharing isn’t welcomed, however, progress will stall and so will profits.


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Empowerment vs. Suppression

There’s a huge difference between micromanagement and true leadership. Employees don’t want to feel as though their every move is being analyzed and criticized. Instead, they want to feel trusted and empowered to spread their wings and try new things. As a result, the latter will almost always outperform the former, which means good news for your business.

Short-Term vs. Longevity

Your property management organization won’t get very far if all your employees are focused on is today’s goals. A solid culture involves having clearly defined and openly communicated long-term objectives. More importantly, the right culture will make employees on every level feel as though they play an integral role in achieving those goals.

Internal vs. External Satisfaction

Another key area of importance when evaluating and improving culture is that of internal customer service. When the focus is only on keeping external parties happy, the company loses sight of what’s equally important: making employees a priority. Organizations that invest in the happiness of their workers have higher retention rates and subsequently better external customer satisfaction levels as well.

The ultimate success of your property management organization depends on how you choose to operate from within. When you place an emphasis on improving and maintaining a positive company culture, not only will your personnel be happier, healthier and more loyal, but your bottom line will reflect the improvement as well.

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