We recently shared a post that included several tips on hiring ‘A-players’ for your property management company. But while hiring the right people from the start is certainly important, keeping them for the long-haul is equally, if not more critical. Otherwise, you’ll find yourself back at square one again and again.
One of the best ways to retain top talent in an industry as competitive as ours is to focus on becoming a great place to work. This will not only attract awesome employees, but will keep the ones you already have happy and engaged for many years to come. Here are a few tips for doing just that.
Lead by example.
If you want your workers to be plugged in, you have to not only create a great company culture, but embody that culture in everything you say and do. Exceptional leaders develop a compelling vision and then inspire others to follow in their footsteps. They aren’t afraid to roll up their sleeves and get their hands dirty, but at the same time, they empower others to spread their wings and soar. Become a leader like this and your property management company will become a great place to work.
Make two-way communication a priority.
Did you know that 65% of employees feel as though their managers make decisions without their input? It’s not enough to simply tell your team what’s going on. You need to create an open-door policy where ideas, questions and concerns are not only welcomed but are actually put to good use. In reality, there is probably nobody who knows better how certain policies and procedures could be improved upon than the folks who are in the trenches. Invite feedback from your employees and, more importantly, demonstrate that you’re listening by using that feedback to make your company a better place to work.
Celebrate work-life balance.
Of course you want your employees to be staunchly devoted to making your property management firm a success. Just don’t forget that they also have passions outside of work. If your employees feel guilty or insecure about taking time off, you’re sending the wrong message and chances are it’s going to drive them right into the arms of one of your competitors. Offer flexible schedules, encourage your team to pursue their passions and be generous in granting them much-needed time away from work. In response, they’ll show their appreciation by working harder, being more loyal and spreading the word about what a great employer you are.
Reward your employees.
Your employees work their tails off to keep your property management company afloat. Don’t be stingy with your praise and recognition. Always look for ways to reward your employees for a job well-done, even if it’s just a ‘thank you’ or shout out in front of the team. If it’s in the budget, incentives like gift cards and other perks can do wonders, not only for individual achievement, but for the company performance as a whole. When workers feel appreciated, they’re more productive and also more likely to recommend their employer to others.
Last, but not least, don’t forget to tap into the resources you already have. That is – your existing employees. If you’ve already got a team of loyal workers who love their jobs and look forward to coming to work every day, ask them to memorialize their feelings in a testimonial. Ideally, ask them to do so on a third-party job search website, such as Glassdoor or Indeed. This will ensure that when candidates are considering new employment, your property management company will stand out as a place they’d truly enjoy spending their career.
Do you consider yourself to be a ‘best place to work’? What tips or advice might you share to help others who are striving to achieve that title? Please comment below!