What If the Property Management Industry Recruited Like Silicon Valley Tech Cos?
I recently read an article that said 60% of the real estate services industry will be of retirement age in the next 5 years, so it got me thinking about how we can replace these individuals. The first thing we will have to tackle is our mindset regarding our current hiring practices, we need more of a focus on high caliber individuals that we can hire and then promote within our company and build a strong team around. I have spoken with several property management companies about how they recruit and it seems like Craigslist, referrals from friends and a local publication seem to be the main source of their recruiting efforts. Some may advertise on sites specifically geared to the Property Management industry, and others also utilize headhunters for the senior positions.
What if the property management company took a more progressive approach to finding the best potential employees for their company, maybe something along the lines of the way Silicon Valley companies go after some of the top recruits, minus the stock options of course.
The first thing you need to look at is what makes your company appealing to someone just starting their professional career, what do you need to offer them to get the best talent for your company. The top things you should include are your company mission, the culture your company provides, salary/bonus structure and an employee advancement program. The next thing you want to look at is what makes up your ideal candidate. This depends on the positions you are hiring, of course, but break it down for each potential employee with an eye on long term employment and advancement within your company.
I would still continue with the methods you have used in the past as you more than likely have found some great employees who work with your company using your own techniques. I just believe that if you take the time to try these other methods on top of your existing efforts you may find more candidates for your company.
- Create an intern program for individuals that are considering property management as a career, match them up with an existing employee that best suits the career in property management the intern would like to pursue.
- Visit local colleges to build relationships with students and career counselors. Advertise with the college job boards, many of these are free to post listings.
- Go to and participate with local job fairs
- When you attend conferences, be sure to get to know as many individuals from your local community that are also in attendance, tell them about your company culture, mission and what type of individuals you are looking to recruit. Ask them if they know anyone that might be looking for a position.
- When you attend crime watch meetings or community meetings, get to know your local property managers and talk about your company and let them all know what type of recruits you are seeking.
- Create a work environment that is positive and fun to be at. Promote a team working atmosphere.
Finding the right employee for your company can be a daunting task, you have to be somewhat aggressive and very clear on exactly what you are looking for and don’t stray from your original plan.