Have you been losing top-performing property management talent this past year? Unfortunately, many employers underestimate the importance of hiring when it comes to reducing turnover. Companies that recognize the role of hiring in achieving positive long-term retention often succeed most at reversing turnover and creating an environment that attracts the best candidates in the workforce. Here are some of the best hiring practices for reducing turnover of your property management team:
Define your ideal candidates.
Before embarking on the hiring process, it’s essential to define your ideal candidate. Establishing an ideal candidate profile will allow you to be strategic with your hiring decisions, vetting
candidates only with the proper qualifications and credentials for your positions. Investing time assessing the best quality talent will result in better hiring outcomes, and ultimately, the right employees who will excel at your company for the long run.
Streamline communications.
Poor communication is often a sneaky culprit of negative hiring outcomes among property management teams. When candidates feel uninformed or dismissed throughout the application
and interviewing process, this often sets the stage for immediate disengagement before new hires even begin their employment. Taking steps to streamline communications, such as issuing weekly email updates or providing access to a hiring portal, will ensure candidates feel comfortable in how your company engages with its staff on a regular basis.
Establish an internal support system.
When hiring new property management staff, it’s essential to provide an internal support system that allows them to seek help and guidance as needed. There are many ways to accomplish this, such as training current managers on best mentoring practices and offering “office hours” in which employees can check in and ask questions. Promoting these types of initiatives to prospective candidates and new hires boosts morale and increases confidence among your team, which is essential to retaining staff and creating an environment that fosters a sense of collaboration.
By incorporating these strategies within your multifamily property management company, you’ll lower employee turnover rates while building a team that’s committed to your mission.
Are you tired of losing your best property management staff? Get in touch and turn your hiring around with the help of The Liberty Group, a staffing firm specializing in the multifamily and apartment industry.
