D — February 14 - 27, 2014 — Property Management — Mid Atlantic Real Estate Journal
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P roperty M anagement
By Brad Schwartz, MSB Employee retention is essential to your properties success
A
fter spending much time (and money) attracting quality
top talent. When exploring employee retention, a new and interest- ing theory has arisen: “The customer does not come first - the employee should.” This probably conflicts with every customer service lesson you’ve ever been taught. Yet by adopting this approach, your business will actually benefit the most in the end. Here’s how it works: When a company puts its employees first, employees are happier. Happier employees provide a more outstanding
service to customers. Out- standing service makes cus- tomers happier, which in turn, spells more successful results for your company. So how can you retain your best people? Here are a few ways to “put your employees first” and keep them loyal to your organization: Benefits Package To state the obvious, a great benefits package will help re- tain employees. But beware, this may not be enough to keep your top employees. Most likely, if your company at-
tracted a great new employee, it wasn’t just the benefits. Top performers are in high demand, and a great benefits package probably won’t be the deciding factor against a job change. Rewards and Recognition The easiest, most common way to retain good employees is to reward them. Provide top performers with the top raises. Motivate them to stay with salary. You can also use non-monetary rewards, such as tickets to sporting events or performances, public rec-
ognition, time off or flexible schedules. An employee that feels valued and respected by his or her company is more likely to perform at a higher level. Challenges & opportuni- ties for the future You can retain quality em- ployees by promoting them to new positions. If you are unable to promote your top employees, providing them with additional responsibility (and the appropriate compen- sation) will motivate most to remain. Or allow your people to explore your organization if possible. Don’t limit them to one, specific type of work. Many employees will even express a desire to try other roles. “Job-hopping” is a regu- lar occurrence in today’s job market. Keep your employ- ees by providing them with the opportunity to job-hop within your company. Give them the chance to gain new experience, knowledge, skills and working relationships. An employee that can do and handle more will only enhance your business. Communication Promote an open, friendly atmosphere in your work- place. Employees need to feel that they are aware of what is going on within the company. They want to know where the organization is headed and how they will be part of that process. Include your employees in any planning sessions and ask them to con- tribute ideas for the company. Essentially, just being heard is an important part of com- munication. Also, encourage feedback from your employees. Inquire as to what they think is right and wrong with the company. Provide some sort of feedback forum. And, most importantly, be sure to act on the informa- tion you receive from this feedback. Remember, if you want to keep quality employees, your company must be of the same caliber. Employee retention is essential to the future success of your business. Brad Schwartz is presi- dent of MSB Resources, a new recruitment firm serving the property man- agement, construction, de- velopment and real estate industries. n
employees, it only makes sense that you and your c o m p a n y want to keep them. Hiring good employ- ees just isn’t enough to be
Brad Schwartz
competitive in today’s tough labor market. Really suc- cessful companies must also develop strategies to retain
RECRUITMENT FOR PROPERTY MANAGEMENT
Providing Hire Power. Need to hire top talent? Call on the power of MSB Resources. From site to executive level positions, we find and discreetly target exceptional candidates. MSB Resources takes pride in creating long-term, successful relationships between our candidates and your company. And we offer a 6-month employment guarantee. Call 215.661.8834 to discuss your needs. 1425 Candlebrook Drive • Dresher, PA 19025 215.661.8834 • info@msbresources.com • msbresources.com
Recruitment for Property Management, Construction & Development
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