California Apartment Firm’s Culture and Benefits Drives Big Boost to Retention
Company culture, benefits, and in-house personnel are among the critical components needed to run an effective apartment management company, according to Christie Slatcher, CEO of Jamison Property Management Company.
With 1,300 of its total 2,300 apartment homes in the Golden State, Slatcher highlighted what makes her firm stand out during the Rent Manager Users Conference this month in Chula Vista, California.
“You want to hire someone who fits your company culture, and for us, that someone who is collaborative and works on problem-solving, is team-oriented, and follows our core values,” Slatcher told GlobeSt.com.
“We’re a family-oriented company, and we want to make our people feel valued.”
Jamison employs 75, including 50 who work in California and 25 in Oklahoma.
Jamison conducts behavioral interviews during hiring and is looking for those who are kind, humble and team players, she said.
“Be sure to get your employees involved in your company goals, give them a voice so they can share their problems and help to solve them,” Slatcher said.
She said one of the most effective management decisions the company has made is to hire in-house maintenance technicians (rather than outsourcing those duties).
“Having them be part of the onsite team means you have more control over what gets done, by whom, and how,” Slatcher said.
The Redondo Beach-based California company also uses an employee recognition platform called Nectar, where a staff member is given shout-out points for complimenting a fellow worker, which can be redeemed for gift cards.
She said her company’s employee retention rate increased significantly after it offered health and retirement benefits.
Meanwhile, on the operational side, Slatcher said it’s becoming harder to fill vacant homes now.
“It’s taking about 45 days to fill open homes,” she said.
“More people today simply want to stay where they are, not knowing how their economic situation will be. And the market is softer right now than it has been in the past few years. Tenants know their rights, and they stay in place.”
Source: GlobeSt/ALM