Ms. Management Sept-2017

Posted: 21st September 2017 by Melissa in Ms. Management
 

Carol Levey, writer and creator of Ms. Management also appears as a guest blogger on Rent Sense. Her insights appear in dozens of other industry publications across the country. Carol is a regular presenter at the annual AAMD Education Conference, has served as MC Host for Award Events, and consistently over 35 years of volunteerism taught & authored curriculum for AAMD Education. She has been acknowledged for her outstanding contribution as an Industry Supplier becoming the recipient of the Jack Shapiro Award Winner twice; in 1987 & 1990.

Carol Levey is perhaps more recognized at the national level as an educator in the real estate industry. She served as one of the original team that produced the National Apartment Association coursework leading to the respected NALP designation. Her company Levey Enterprises has provided temporary leasing specialists, site managers and marketing offsite personnel to major apartment community operators throughout Colorado and across the U.S. Her business was founded on decades of experience in property management and executive leadership as a third-party leasing and corporate housing provider.

Read on for this month’s Ms. Management Q and A!

Q – I’m a regional vice president for a leading property management company. I’m recently experiencing more difficulty holding onto key team members. The economy is returning and offering more
external opportunities; in and out of our industry. I believe that people are leaving important team assignments that will lead to promotions and employment satisfaction within our company. It’s frustrating to see and I need to believe we can fix this. What recommendations can you provide?

A – First, I need to pass along some perspective. As an economy, we are emerging from a prolonged recession and recovery period during which individuals were concerned to obtain and keep a job. Since our industry consistently hired during the recession while others did not it stands to reason that we might have captured and/or kept employees that we might not have if other options existed. The slow recovery kept us from facing the underlying regional reality that there are not sufficient qualified people to fill the additional employment requirements within our industry. So, the reality is that finding and hiring as well as training, retaining and managing career tracks are the real industry challenges for the foreseeable future. Don’t be discouraged by this new reality. Rather, attack the problems strategically.
I suggest that you update your strategies and methods in favor of creating an environment conducive to multiple generations. I say this knowing that most industry companies are steered by boomers and the culture and communication style of such companies need a re-boot to accommodate millennials. By doing this you will find that the working environment will better support everyone. Examples include –

• Create a communicative style that is direct, transparent and collaborative. Clarify upward mobility while managing expectations about needed experience and education.
• Put them in charge of their career providing support including onboarding that points them to where company resources are kept, who to ask and when, how to get started and why.
• Build a learning environment with individualized video and/or computer-based presentations, experiential checklists, coordinated peer shadowing including Q and A sessions.
• Schedule higher frequency for periodic evaluation and feedback that emphasize your willingness to listen and coach while directly and transparently letting each employee know where they stand at this moment.
• Provide constant support with ongoing education and advance technology so each team member believes that they are growing because they are staying.
• Know each team member better by asking them what they think and feel; giving them real responsibility and credit for performance. Find out what engages them versus what is wearing on them. Always give them general encouragement but also hands-on help for tough specifics that they can’t budge.
• Whose opinion is important to them; parents, siblings, friends and significant others? Ask about those opinions of their current economic status compared to others and/or expectations.
• Finally, remember that you are going to experience turnover no matter what you do and you want to upgrade your team no matter how good they are so recruit and interview as an ongoing priority. Your existing team needs to see that your company is “the greener pasture.”

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