In all businesses, and especially in service-oriented industries like property management where we’re interacting with clients and tenants on a daily basis, having a full staff of skilled and talented employees is a huge asset to any organization.
But this process, like all areas of owning a business, is strategic. First you must determine which types of positions you want to create and fill. Then you must interview and hire for both experience, skill and fit with your culture. It’s not easy, but there are ways to do it successfully.
Below we share some thoughts on hiring and managing people, and, as always, we welcome your feedback too. To hear more of our conversation, tune in to episode 13 of our podcast Owner Occupied.
The People Puzzle
Successfully managing people requires its own unique skill-set, but even those who aren’t the most experienced people-managers know that having an engaged and motivated workforce is the best way to ensure high levels of productivity and efficiency for your business.
At RL Property Management, we prioritize hiring for attitude because we know we can always train for skill. We encourage honesty and transparency among our staff, and we want them to feel comfortable coming forward with their concerns. We know that if our team doesn’t don’t have the time or resources to do their jobs, they’ll never feel successful.
That said, even as business owners, we have room for improvement when it comes to being more efficient with our time. It can be difficult to articulate exactly how those hours in the day are being spent, but it’s an important metric to track for all employees, in part because it alerts you to whether you need to hire additional staff.
Who to Hire (and When)
As your business grows and evolves, your staffing needs may change. This might mean expanding the number of entry- to mid-level employees you have on staff or bringing in a top leader – one who will also command a top salary.
This can pose a difficult challenge for small business owners who have not yet had to stretch their payroll budgets. When considering the type of hire needed for your business, it helps to think about some of these factors:
- What skills do you need that you don’t already have?
- In which areas are you looking to grow your business?
- How will you assess culture fit with a new employee?
- What growth opportunities will your position offer to a new hire?
Remember, hiring is a two-way street. There has to be something in it for the employee (beyond just a paycheck) if they’re going to join your team.
Growing your team the right way can result in a significant impact on your business and bottom line. It’s not something you have to rush, but it is something you have to feel good about in terms of fit, experience and your ability to afford the market rate for that position.