Professional Equities February 2019

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FROM THE DESK OF

Bill Moist

The picture is of my daughter, Allison, inspecting RV parks. Last Spring, Ali researched RV parks from Texas to Florida. The results were quite amazing and changedmy opinion of the viability of an RV park placed next to a RV and boat storage property. Since her first research, the prices charged at RV parks have stayed the same or increased. None discounted their prices for the winter months. Recently, I had Ali visit five DFW locations. Two of them appeared to be Class A properties based on the companies’websites. But when viewed in person, they were definitely Class B properties. Both parks were full. When asked if they had any long-term rental spaces available, one manager said she might have a space open in 4 to 5 moths. The second property manager said the demand for long-term rentals was so strong that they planned on accepting only long-term rentals in the future. If this intrigues you, then I encourage you to get on our wait list for more information at self-storageinsider.com.

DEFINE ‘QUALIFIED’ H iring for H ard S kills vs . S oft S kills

Hire for personality, train for skills.

This advice is becoming a standard hiring practice across industries. Hiring managers put less emphasis on a candidate’s degree or past experience and focus more on who they are as a person. This change is likely due to the growing trend of companies prioritizing strong internal cultures. According to Forbes, 89 percent of hiring failures are due to poor culture fit. It’s wise for hiring managers to make culture fit a priority. New hires who don’t connect with their team or share the company’s values tend to stick around for only a short period. Considering it costs around $4,000 to hire a new employee, it makes sense for companies to invest in new hires who fit the company culture. However, it’s not always enough to hire someone just because their personality is aligned with your company. For a company to hire the best pool of applicants, the ideal candidates should have a balance of soft skills and hard skills.

SOFT SKILLS

When someone says they“hire for personality,”what they really mean is that they are looking for candidates with certain soft skills. These are nontechnical skills that can’t be measured and aren’t

–Bill Moist

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