Keeping your property management business strong and healthy is no easy feat. A big component of success in this area is company culture. With the right internal atmosphere, you can develop and grow a highly engaged, motivated and committed team of talented professionals who will work together to drive your company forward. If your culture is suffering or you’re unclear on which path to take to get to a better place culturally, the following tips should help.
Lead vs. Manage
Managers tell people what to do. Leaders show and guide them on how to do it right. There’s a significant difference between the two, particularly when it comes to company culture. If you want to grow your property management company through organic culture, you must ensure that there are leaders at the helm who embody that culture in everything they do. They should inspire and excite others. If your company is lacking in this area, your culture initiatives will inevitably fall short.
Another key area to focus on when developing a culture of growth and success is your internal hiring practices. We’ve said on many occasions that it’s almost always better to hire for cultural fit versus skill. Simply put, you can teach someone the ins and outs of the property management business. You can’t teach them empathy, interpersonal skills or how to have a good attitude. Of course, you want to select individuals who are competent enough to do the job well, but you should also focus on important soft skills, like character and chemistry with the team.
How does one motivate employees to perform at peak levels for a sustained period of time? The reality is, motivation doesn’t come from bonuses and pay raises. True motivation comes from within. Rather than focusing on directly motivating team members, leaders should instead focus on building a culture of trust and empowerment. The job of a good leader is to find out what drives each employee and then create an environment where those personal motivations are supported and valued. Remember to celebrate the small things. This will result in a culture of winners who feel honored to work for your property management company.
The last piece of the puzzle, but one which is among the most important, is regular accountability. It’s not enough to simply expect your team to stay plugged in and engaged. You have to set clear expectations and hold them accountable. You also need to hold yourself and other organizational leaders accountable for their roles in the company’s success. Holding weekly one-on-one meetings keeps everyone on the same page, provides clarity and reinforces the company vision. This will help to strengthen the culture and make it attractive to prospective employees when it comes time to grow.
When it comes to generating sustainable growth for your property management company, the real work starts from within. By focusing on creating and nurturing a strong, positive company culture where leaders inspire and motivate, hire the right people and hold themselves and others accountable, you’ll evolve into a workplace where employees thrive.