Recent global events and job market trends have caused many professionals across a variety of industries to reconsider their priorities. This is especially true when it comes to the property management industry.
While many property managers are currently leaving the industry to pursue new professional opportunities or enjoy the benefits of an early retirement, many property management companies are reconfiguring their hiring practices and employment policies to retain existing staff and hire qualified candidates.
To help companies prevent a shortage of property managers and set the table for future success, we offer the following tips that can improve property management staffing issues.
Look Beyond Typical Talent Pool
Instead of looking at recent resignations as a warning sign, property management firms should view this trend from a more positive perspective. These recent job market changes have opened the door to significant opportunities for property management companies to look beyond the typical candidate pools to fill their vacancies.
Since many professionals in a variety of industries are eager to make a career change, property management companies can actively target these job seekers. This is the perfect opportunity for companies to not only promote their current job openings, but also demonstrate to these potential candidates that property management is a field that offers plenty of professional growth and satisfaction.
By taking this route, companies can find fresh talent that they can mentor and develop to be the next generation of property managers who will remain in the industry for years to come.
Encourage Diversity in Property Management
In addition to helping develop future property managers, current trends have also allowed companies to encourage diversity in its workforce. Right now is the perfect time for organizations to promote qualified and experienced diverse staff members to property manager positions. By doing so, companies can make more meaningful connections with their existing staff and potential candidates. When diversity is reflected in an organization’s management, current and future employees are more likely to view these companies more favorably.
Adopt Burnout Prevention Safeguards
Like many professionals, property managers may experience high levels of stress and exhaustion that could potentially lead to occupational burnout. It’s up to companies to take action and implement policies and changes that help lower stress and prevent burnout.
One of the leading causes of occupational burnout is a feeling that most things are out of the property managers control. Companies can help curb these feelings by creating policies that help stressed out property managers regain that sense of control. This can be done in many simple ways such as offering a more flexible schedule and/or more PTO for a better work/life balance, allowing staff to choose their preferred method of communication (email, texting, calls),and implementing coverage plans to account for vacations and illness.
If staff continue to struggle even after preventive measures have been implemented, they may benefit from participating in employee assistance programs. Providing access to such programs not only helps employees experience a better quality of life, they can benefit the property management company by potentially reducing absenteeism, accidents, and workers compensation claims.
By following these tips, property management groups can help retain their existing employees, locate and train the next generation of property managers, and help diversify their workforce.
While companies can help improve their property management staffing on their own, they can also benefit from the assistance of an experienced recruitment firm like MSB Resources.
As one of the leading recruiting firms for the property management, construction and development industries, MSB Resources team of experts can match qualified candidates with companies where they can grow and thrive.
Contact us today to learn more about how we can help improve your property management staffing!