There’s always a lot of talk about finding great leaders, but most of that typically implies going outside one’s company to do so. While that’s certainly a viable option, in reality, you may already have a number of potential candidates waiting in the wings of your very own property management firm. Internal leadership development is often favorable for a number of reasons, including time savings and cost. Rather than seek external resources, here are three proven ways that you can develop strong, effective leaders from within.
Mentorship & Delegation
Empowerment is something that can take a regular, everyday employee and help him or her develop into a confident, impactful leader. Start by matching existing people in leadership roles with those employees in whom you recognize great potential and facilitate targeted mentoring. Former C-suite corporate executive and successful entrepreneur Glenn Llopis said: “An employee’s success, the lens they see through, the decisions they make and how they navigate their careers are all heavily influenced by the types of leaders they are able to observe and learn from.”
Additionally, those mentoring should not only work with their protégés to transfer knowledge and teach the “tricks of the trade,” but actually bring these things to life through delegated projects. Oftentimes strong leaders require the right opportunity and sometimes even a gentle nudge to push them toward their fullest potential.
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Patience & Perseverance
In many cases, you may find that there are certain employees of your company who have the aptitude and motivation to lead but you can’t quite figure out a place where they fit in just yet. Leadership development isn’t something that happens overnight. Even if there are not any available positions or needs, investing in the long-term growth and maturation of future leaders is a wise decision for any company.
This, of course, can be challenging – especially for property management companies that are on a rapid-growth trajectory, but taking a long-term approach to leadership development will pay off in the end. You will realize your return when those needs begin to become evident because you’ll already have capable, qualified leaders ready to step in and take the helm.
Related Post: 5 Tips for Developing a Successful Property Management Team
Avoiding Temptation
Unfortunately, there may very well come a time when you are grooming someone to become a leader in your property management company and will be tempted at some point to give up and look for external candidates instead, whether it’s because the process is taking too long or your confidence in their abilities has wavered. When this happens, it can do a serious number on the morale of not just the employee in question, but everyone else on the team who aspires to grow within the company.
As tempting as it might be, you should never be willing to sacrifice the positive, productive culture of your company just to speed up the leadership process. Keep your long-term goals in mind, mentor and delegate to potential leaders, remain patient and above all else, work hard to maintain the highest level of trust amongst your employees. Over time your business will become ripe with promise and have a strong foundation for future success.
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Get the full scoop on How to Build an Extraordinary Property Management Team. Download our FREE RESOURCE GUIDE.
