By Julie Manthey, Western National Property Management
Although, the process of finding, recruiting and ultimately, retaining new talent can sometimes be a daunting and time consuming task, it is an essential component of building and maintaining a highly effective workforce and business. The extra time spent finding the right team members and retaining top talent will only further a company’s overall goals for success.
What to look for when recruiting top-level talent
Resumes are certainly important for identifying if potential candidates meet job qualifications, but they are also key in identifying potential red flags. Most noteworthy is the longevity a new recruit has had in past positions. Do they have past positions that they held for multiple years, or does their resume show that they float from job to job? Constantly changing jobs without any track record of stability is a serious red flag for hiring managers and can tell managers a lot about a new recruit’s potential longevity with a new company.
Job floating can imply that the new recruit is unsure about what his or her future career path looks like or that he or she does not get along with people. If it is the latter, this could be a major issue for the hiring team, especially for a property management position, as a new recruit will need to interface with the public, co-workers and residents on a daily basis. Paying close attention to a new recruit’s past work history can help to identify candidates’ potential weaknesses and issues.
Where to find top-level talent
There are several different ways hiring mangers can find and recruit new talent. One important factor for management is to not limit these efforts to only one source. At Western National Property Management, our efforts are tri-fold. First, we have a recruiter who makes job postings available on external job websites such as Indeed, Monster, etc.
Secondly, we have an internal intranet where we announce job openings, making them available to our current employees. We place a major emphasis on promoting from within and like to provide our employees with the opportunity to grow within the company. New positions are made available on the internal intranet on a regular basis, and employees are welcome to apply.
The final way we recruit new talent is through networking. Top level management is always networking to identify new talent that may be in the workforce. We also consistently interview potential candidates, even when we aren’t hiring. This helps the company to be prepared for vacant positions and keeps prospective recruits on file if the need to immediately fill a position should arise.
How to retain top-level talent
Now that top-level talent has been recruited, how do we ensure they are satisfied and willing to grow within the company?
One way to do so is by providing excellent company culture. Employees want to work in an environment where they can both excel and relate to their co-workers.
At Western National Property Management, we host two annual events that celebrate all of our employees’ hard work and provide an opportunity for them to have fun and be honored. The first is our financial awards for prior year results combined with kicking off the new financial year. The second is in the fall and is leadership focused. The teams are spoken to by professional motivators, as well as involved in team building activities. We close down all of our buildings for the day, host an awards celebration, and most importantly, have fun. This provides employees with the opportunity to feel appreciated and also to enjoy their colleagues in a non-work-related setting.
Another way to retain talent is by providing the right avenues for employees to grow and excel. Often, employees will leave a company because they believe there is no growth or room for opportunity. At Western National Property Management, we implemented a program that ensures our employees know that we recognize their hard work, and provides them with the right tools for growth and development.
For example, if an employee applies for a promotion on our internal intranet and does not get the job because we feel they are not quite qualified, we will go ahead and put them in an internal mentoring program.
The mentoring program helps to put employees on the fast-track to seeing their goals realized. They work closely with a mentor, set goals and more often than not they see self-improvement and find themselves increasingly qualified for a promotion to the position they seek.
By implementing this program, employees are less likely to leave for another company, because they feel as if there is no opportunity for growth. Instead, employees feel recognized and appreciated, and are then able to grow into higher positions.
Overall, recruiting and retaining new talent takes time, effort and consistency. Managers need to take the time to prepare for an interview looking for any gaps in a resume that may raise a red flag. Managers should also be sure to explore a variety of options by recruiting in several different avenues, especially within one’s own company. Finally, implementing programs that ensure employee satisfaction and foster growth and development will ensure top talent can be retained.
Quality employees are key to any businesses’ success, and companies should invest the time necessary to ensure they are building a strong and capable team.
Julie Manthey is the vice president of Operations at Western National Property Management. She can be contacted at (949) 862-6200.