How to Win the Talent War in the Property Management Industry

Blink and you’ve missed it. The workplace just changed again. We are in the middle of a tremendous shift in how (and where) people work. And, with the boomers retiring in droves there’s a shortage of experienced property professionals out there. Believe it or not, you’re in a talent war with your fiercest property competitors for employees.

The convergence of the pandemic, the surge in advanced technologies, and the emergence of a new generation of tenants seeking personalized and convenient rental experiences compels property management companies to reassess their strategies for talent acquisition and management. Property management professionals who are tech-savvy with industry technical knowledge are now in steep demand.

Here are a few strategies for elevating your property management business as an employer of choice to be able to attract and retain top talent.


1. Retention Starts at Recruiting

According to LinkedIn research, more than three-quarters of people seeking jobs look into the company’s employer brand before applying. So, it is important to define which aspects of culture and strategy you want to emphasize, and then look for candidates whose approach, values and behaviours align with your company culture.


2. Onboard Thoroughly

The property management industry is jam-packed with rules and processes across every aspect of the business. The thing you never want to hear an employee say is “I didn’t know I was supposed to do that.” Give your people the knowledge and tools they need to do their job. Having a comprehensive onboarding process, especially one that trains new employees how to leverage property management software to maximize their time and reduce errors will help new hires get up to speed more quickly. (Of course, if you use our suite of tools, they are highly intuitive with great support, so the learning curve is very short.) Then, develop a 30, 60, and 90-day plan to help your new employee learn the role and build relationships with key stakeholders. Be sure to check progress at the end of each 30-day period.


3. Promote Flexibility

The property business is a people business, but where possible, when you can offer flexibility in terms of where and when people work, with a hybrid on-site/remote option, it helps to increase employee satisfaction. When employees are happy, it drives up retention rates. (And the best part is that it also boosts your ability to attract top talent as well.) By harnessing property management software, employees that are working remotely can stay aligned on the tasks that matter. Managers and all team members, wherever they may be working, can use communication portals to cascade information seamlessly and securely to one another, as well as to owners, to tenants and vendors.


4. Implement Career Pathing

Encourage ongoing learning with internal or external education programs designed to enhance their career development. Savvy property management companies implement mentorship programs so that every new employee is paired with a mentor to benefit from their experience and help them learn the skills and behaviours that will help them grow and achieve their career goals. These types of professional development opportunities are important to Millennials and Gen Z and will help you retain and grow your leadership bench strength. By raising the waterline of your high potentials, you will also have a pool of leadership-ready talent whenever you need to promote.


5. Create an Environment that Supports Employee Engagement

As mentioned, using technology to speed up processes, automate and streamline enables your new hires and long-term employees to get rid of a ton of tedious manual work. It also reduces stress levels, and makes it a snap to manage leases and stay on top of accounting.

Focus more on outputs, rather than micromanaging inputs. This empowers your talent to be more autonomous in their work. Be supportive and allow employees to follow their dream. Read how our Customer Success Specialist explored Canada while still delivering amazing customer experiences.


How Property Vista Helps

Our software helps your people keep their head in the game and focus on what matters rather than shuffling paper. You can harness the power of automation, streamline your processes and take back time into your day. When you leverage our cloud-based technology, you give your people the ability to do their job anywhere, at any time, all while doing less manual work.

To learn more about what you can do to create better employee experiences through automation and other technology solutions, book a demo with us today!