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Show your employees where the opportunities are

To get things started, we asked Barry about the perception of opportunities available within the property management industry. Since many workers in the survey said they鈥檙e dissatisfied with their 鈥渙pportunities for career growth,鈥� we wanted to know 鈥� is there a genuine lack of opportunity, or is this more of a perception problem? Here鈥檚 Barry鈥檚 take on it: 鈥淎s an industry, we have a tendency to be a little tunnel-visioned in terms of how we describe what those opportunities are to people coming into the industry. We don't do a terrific job of explaining what other options there are. Sometimes, people either aren't made aware of what some of those things might be, where their passions might be better suited, and how they can evolve more quickly, but they're out there. I mean those range from accountants to human resource management professionals, to marketing professionals, maintenance, and facilities management, technology and finance.鈥�

Steve Cadigan compliments Barry鈥檚 thoughts: 鈥淚 think that if you want people to stay longer, if that really is an aspiration for you, then show them the pathways of opportunity and how what they're doing can connect to something else. What are the steppingstones?

He went on to describe the benefits of prioritizing employee growth, even if you don鈥檛 necessarily have a promotion for them at the moment: 鈥淧eople want to be made better for the future. They want to know that you're investing in them. And even if you don't necessarily have a promotion or a step-up in their career right now, I think what you can do is offer new experiences, new projects, new assignments, and/or new classes, or invest in their education, so that you鈥檙e building them up.鈥� An example of this, according to Steve, is to think about whether 鈥渢here are other projects you can give someone as a stretch assignment. Maybe something out of the norm that鈥檚 going to allow you to see if someone has the capability to take on more, or maybe deliver value in unexpected ways you weren't sure, or you didn't know they were capable of doing.鈥�

Create a magnetic culture

While compensation and benefits were found to be top drivers of satisfaction, company culture plays an important role as well. The data showed that employees who are not satisfied with their jobs are significantly less likely to have positive views of their company culture, and the biggest gap between employees at risk of leaving their current role and those not at risk was around company culture: Just 43% of at-risk employees agree they enjoy their company culture, compared to 76% of employees not at risk.

According to Barry Blanton: 鈥淥ne of the things I'm most excited about is how the next gen right now really does care about culture. They really do care about making a difference. It isn't just about making money. They can't overlook the fact that they have to earn a living, but they also have some terms by which they want to live their lives. What are those things that matter to them, and then how do we get creative in terms of offering those things?鈥�

If you鈥檙e wondering how to define company culture, here鈥檚 how Steve Cadigan thinks about it: 鈥淲hy does someone want to work in your organization? If you can answer that question, you're going to arrive at your culture. What's unique and differentiates you from other environments is how things get done, how people communicate, and the language you use. I really believe culture is the most valuable competitive advantage you have in a world of massive choices for employees today, in a world where they're telling us they're thinking about leaving; in a world where we're seeing more resignations than at any time since we've been measuring it.鈥�

These insights just begin to scratch the surface of what you鈥檒l discover on Season 2, Episode 10 of The Top Floor. Tune in for the full episode.