We’re all about engagement and interactivity at Bisnow, so it was alarming to learn that just 30% of US workers are engaged in their jobs (that number can’t be too different when you winnow down to commercial real estate). Here are some low-cost tips from Inc. to retain your people and increase their added value, adapted for our industry:
1) Make every day different.
We all know cold calls and property showings can quickly go from fun to monotonous. Make sure your employee finds passion for some part of what they do. Is your office manager a luxury retail maven? Let them sit in on lease negotiations, and you may find an untapped wellspring of talent.
2) Information is power.
Communication should always go both ways. Employees perform better if they know how their work on a particular deal, development, or financial product is affecting the company’s bottom line. And the feedback shouldn’t end at the ribbon-cutting. Review and revisit, and you’ll both find tweaks to make to ensure future success.
3) Everyone deserves ownership.
Let your employees be a part of the decision-making process. (Especially on where to order lunch.) If they’re going to be leasing or managing your asset, they should be able to share ideas during the renovation and repositioning process. Your people on the ground, pounding the pavement, can be your best source of inspiration, and involving them will increase their commitment to the cause.
4) Let freedom ring.
Give employees a long leash (so long as they don’t notice it’s there), and you’ll be rewarded for it. Freedom and flexibility encourage innovation and out-of-the-box thinking. You’ll be scratching your head and saying, “Why didn't I think of that prospective buyer and alternate use?”
5) A name in lights can't hurt.
Modesty may be polite, but we all welcome credit on a job well done. Celebrate your employees' range of successes, from a first tenant move-in to a property re-branding creating buzz around town. Let them build on their successes, and engagement and productivity will snowball.
