Retention For the Win

After being struck with Cupid’s arrow and Russia’s meteor madness, passion and reality reiterate the importance of business goals and operations. How do you accomplish corporate goals, prepare for a disaster and push your company to its full potential?

One way to begin answering these questions is by acknowledging that a successful property needs high and effective retention rates. To obtain desirable retention rates, a 4-step strategic process is necessary—one akin to coaching a soccer team. 

Companies start by initiating a recruiting process similar to drafting players onto a team. Recruiting the right employees (teammates) is vital in encouraging retention and bringing an effective group of people together who will make both a short and long-term impact.

You’ve got to provide a structured team with clearly defined levels of management, instruction and guidance. The leaders are the ones directly in control, but the team players—those who make up the majority—provide the core efforts and execution that reinforce the team’s mission.

The second step is training. Practice makes perfect in the world of sports, and in the world of property management, that is the goal—but achieving as close to perfect as possible is more realistic. In training the team that you have crafted you must both prepare and test them for the road ahead. If anyone has successfully passed the interview (drafting) process but shouldn’t have, this is where their flaws will become apparent.

Training is vital portion on the road to success; a team or a company defines their mission (a perfect season), develops a strategy (a playbook) and assigns leadership (the line-up) according to whoever is most capable of accomplishing their mission.

The third step is implementing your employees or your team into “the game.” This is the part where the whistle blows and everyone’s potential is discovered. Governance is manipulated and acquiring the win is the ultimate goal.

Passion is put to work and operations are utilized to their full advantages.

In the case of a property, operations can range from people’s individual capabilities all the way to technology’s capabilities and incorporating them into the property’s daily procedures to the most resourceful extents.

In property management, our mission is the successful execution of the owner’s goals and objectives. Think of the owner as the goalie and the day-to-day operations as the ball. Ultimately the owner is in charge of the property (the net), but the team does everything they can to keep the ball away from them to reduce stress and provide a competitive advantage over the “other team.” You keep your eye on the ball and focus on executing plays from your playbook while the goalie surveys the entire field and provides you with direction, enabling them to better protect the net.

The final step is scoring. Happy fans are equivalent to having happy and loyal employees and residents. Here is where feedback is provided and goals are reestablished. Properties are always striving to improve. You want to encourage players to remain on your team not only for your own benefit, but for personal incentives that they receive along the way as well.

If you operate your community in a similar fashion, you will ultimately come out with a win.

Lauren Ginder works as a marketing manager for Pacific Crest Property Management where she integrates brand loyalty into their network of employees, owners and residents. She can be reached at 206/812-9144 or via email.