If you are a business owner, you are likely well acquainted with the various costs associated with developing and training a new employee. Even at the most basic levels of your organization, it can still take thousands of dollars in lost productivity and time to replace someone when they leave.
While some level of staff turnover is unavoidable as people will come and go based on life circumstances, you should be doing all you can to retain, develop, and invest in your best employees, particularly in a field like property management, where you rely so heavily upon them. Here are three tips that can help you to succeed in the property management industry, through identifying and utilizing the best staff members you have:
- Take Off the Blinders – The first step in identifying the best employees you have is taking off any blinders that may be preventing you from accurately identifying their strengths and weaknesses. This means looking past any favoritism or bias you have, and honestly and accurately evaluating them based on workplace performance alone. While this can be difficult, it is an absolutely essential step in identifying the strongest performers in your organization.
- Equal Access Training – Another key factor in developing your personnel is making sure that everyone has access to as much training as they care to take. Is a porter, housekeeper, or entry level maintenance technician trying to broaden their experience? Don’t be afraid to let them take over an additional duty, such as keeping cleaning supplies and spare parts stocked, and see how they handle things. You may be surprised to discover some hidden gems among your employees this way.
- Don’t Be Afraid to Change – Last but not least, don’t be afraid to make a change if you feel it is in the best interest of your organization. While you don’t want to fire people if you don’t have to, sometimes it is absolutely essential for the long-term health of your organization. While you should always do your best to explore other alternatives before letting someone go, you must be mentally prepared to do so when necessary.
Following these three tips will help you to make the most out of your workforce. You may also find some real benefit in cross-training your personnel, and having them learn other aspects of your business. Occupancy Heroes, a well-regarded property management training firm, relies on this cross-training approach to educate their staff and as a result enjoys a well-rounded, talented, and motivated staff that is capable of taking care of anything related to the marketing and leasing of any property.