As the labor market tightens and employment trends shift, employee retention has increasingly become top-of-mind across all sectors. Multifamily property management is no exception. However, one thing is clear: Your team is the backbone of your success.
Your onsite teams are the ones interacting with residents, handling maintenance requests, and ensuring every aspect of your property runs smoothly. However, in a job market where more than a third of professionals (38%) are willing to walk away without another job lined up, recognizing hiring red flags and making the right hiring decisions is more crucial than ever.
A bad hire in multifamily property management isn’t just a headache; it can have a ripple effect. Residents are left frustrated with unresponsive staff or disengaged employees who drag down morale — and all of this impacts your bottom line.
Consider the numbers from a recent Gallup engagement survey: Not engaged or actively disengaged employees account for approximately $1.9 trillion in lost productivity nationally. Yikes! However, Gallup research also shows the positive impact of engagement because highly engaged employees are five times more likely to stay put.
When top talent walks out the door, it’s a direct hit to your company’s bottom line, costing real estate organizations over $2.5 million annually in recruiting, training, and lost productivity. The cost of employee retention and recruitment is high, but when great people leave, your corporate culture is also in jeopardy.
Here’s the good news: You can retain the rockstars your property deserves by avoiding these hiring red flags.
Employee Recruitment: Avoid These 10 Hiring Red Flags
- Only Focused on Compensation
- Doesn’t Give Credit to Others
- Overly Confident
- Unexplained Job Changes
- Dishonest About Experience
- Cannot Admit Mistakes
- Frequently Interrupts
- Self-absorbed
- Poor Communication Skills
- Negative Attitude
- Plus! How to Build a Culture That Attracts and Retains Top Talent
1. Only Focused on Compensation
While fair compensation is important, candidates who focus solely on salary and benefits may not be passionate about the work itself. This should be a significant red flag for hiring managers in the multifamily industry.
When individuals prioritize monetary gain over job satisfaction and alignment with company values, it can lead to a lack of engagement, decreased productivity, and higher turnover rates. In multifamily, where employee satisfaction directly impacts resident satisfaction and property performance, hiring individuals who are solely driven by financial incentives can be detrimental to the long-term success of an organization.
2. Doesn’t Give Credit to Others
Individuals who fail to acknowledge the contributions of their colleagues often struggle to collaborate effectively, fostering a climate of competition and resentment rather than cooperation. Unfortunately, this can lead to a breakdown in communication, decreased productivity, and a toxic work environment.
Moreover, employees who hoard credit may also be less likely to seek out feedback or assistance from others, hindering their professional development. In the multifamily industry, where teamwork is essential for managing complex operations and providing exceptional customer service, a lack of collaboration can have serious consequences, including missed opportunities and a decline in resident satisfaction.
Therefore, it is crucial for hiring managers to identify and avoid candidates who consistently fail to give credit to others, as their presence can have a detrimental impact on the overall health and success of a multifamily team.
3. Overly Confident
An overly confident individual can pose significant challenges in a multifamily setting, especially when faced with the dynamic — and often complex — nature of property management. While confidence is generally a desirable trait, excessive self-assurance can lead to a reluctance to seek assistance and accept feedback, as well as a tendency to dismiss potential risks.
The “overly confident” employee can create a toxic work environment where employees feel stifled and teamwork suffers. Furthermore, this type of person may be more prone to making impulsive decisions without carefully considering the potential consequences, which can result in costly mistakes and damage to the property’s reputation.
4. Unexplained Job Changes
Be wary of candidates who frequently switch jobs without reason. Unexplained job hopping could suggest a lack of commitment or poor performance. However, it’s important to consider the context of these changes. For example, a candidate might have been laid off due to economic downturns or company restructuring.
Additionally, some individuals might be seeking career growth or better opportunities. Therefore, it’s crucial to probe deeper into the reasons behind job changes during the interview process because frequent job changes can have significant consequences.
Employees who frequently switch jobs may lack the necessary stability and experience to excel in their roles. This can lead to increased turnover rates, which can be costly for property management companies and negatively impact resident satisfaction and overall property performance.
5. Dishonest About Experience
Hiring candidates who are dishonest about their experience can have significant consequences in the multifamily industry. In this sector, where property management and resident relations are paramount, trust and integrity are essential qualities.
When a candidate misrepresents their experience, it raises concerns about their ability to handle the responsibilities of the position. For example, a candidate who claims to have extensive experience in leasing but struggles to answer basic questions about the rental process may be unable to effectively attract and retain residents. Decreased occupancy rates, lost revenue, and negative resident satisfaction can result from hiring dishonest employees.
Furthermore, dishonest candidates may also be more likely to engage in unethical behavior in the workplace. If a candidate is willing to lie about their qualifications, it suggests a lack of respect for the truth and a willingness to cut corners. Such actions can damage the reputation of the property management company, lead to legal issues, and create a toxic work environment.
6. Cannot Admit Mistakes
Someone who refuses to acknowledge and learn from their past mistakes may repeat them in the future. In multifamily, where property management and resident relations are paramount, the ability to recognize and learn from errors is essential for effective problem-solving and conflict resolution.
When a potential candidate is unwilling to admit instances where they have made mistakes, it suggests a lack of self-awareness and a tendency to blame others, and often, it leads to situations where errors are repeated, feedback is ignored, and training is resisted.
7. Frequently Interrupts
Someone who doesn’t listen to others can create a hostile work environment and decrease overall productivity, so pay careful attention to how a potential candidate interacts during all phases of the interview process.
Effective communication and collaboration are crucial for managing properties and maintaining positive resident relationships, and the ability to listen attentively is paramount. When these behaviors play out with residents, it can lead to dissatisfaction and negative online reviews.
A person who consistently interrupts others demonstrates a lack of respect for the opinions of others. When left unchecked, the overall performance of the property management team can be negatively impacted, leading to decreased morale, increased conflict, and a breakdown in teamwork that creates an environment where attracting and retaining top talent becomes increasingly difficult.
8. Self-absorbed
Individuals who are only interested in their accomplishments and goals can create tension and conflicts within the team. The multifamily environment is highly collaborative, where teamwork and effective communication are crucial for success. So, adding a self-centered individual to the team who may be less likely to listen to feedback, collaborate with colleagues, or prioritize the needs of the team and residents can disrupt the dynamics and hinder productivity.
Additionally, self-absorbed individuals may be more likely to engage in unethical behavior or prioritize their interests over the company’s goals. For example, they may be tempted to neglect their duties or engage in discriminatory practices if they believe it might further their career advancement. Such actions can damage the reputation of the property and the property management company and lead to legal issues.
9. Poor Communication Skills
Communication is critical. Look for employees who can build relationships with residents and other team members. Effective communication is essential for building relationships with residents, addressing concerns, and maintaining a positive community environment.
When a potential employee struggles to communicate effectively, it can lead to misunderstandings, miscommunications, and a breakdown in trust. For example, a leasing agent who cannot articulate the benefits of a property or answer residents’ questions clearly may struggle to attract and retain residents.
Poor communication skills can also negatively impact teamwork and collaboration within the property management office, resulting in inefficiencies, conflicts, and a decrease in overall productivity.
10. Negative Attitude
Avoid candidates with negative attitudes or who exhibit a sense of entitlement. A negative attitude can not only affect the individual’s own performance but also negatively impact the morale and productivity of the entire team.
Employees with a negative outlook may be more likely to complain, criticize, or undermine the efforts of their colleagues, which can lead to a breakdown in communication, decreased morale, and a decline in overall performance.
A negative attitude can also damage the property’s reputation. When employees exhibit a negative attitude toward residents, it can lead to dissatisfaction and complaints — ultimately impacting resident retention if the problem persists.
For that reason, it is important to prioritize hiring individuals with an optimistic outlook who are willing to contribute to a positive and productive work environment.
These common hiring red flags may seem minor, but they can cause significant issues for a property management team. Remember, the hiring process isn’t just about finding the right candidate; it’s about avoiding the wrong one.
How To Build a Culture That Attracts and Retains Top Talent
Creating an employee recruitment process that helps you recognize and avoid these interview red flags is your first line of defense, but knowing “how” to build a company culture that attracts and retains top talent is equally important.
The fight for top talent doesn’t end after a single interview. Hiring managers must prioritize building a positive and supportive work culture to attract and retain top talent in the multifamily industry.
Three ways to build a culture that attracts and retains top talent:
- Cultivating a positive and engaging company culture. How do you do this? By fostering an environment built on open communication, transparency, and opportunities for growth. Not only does this create a positive culture, but it also boosts the bottom line! According to Gallup surveys, companies with a highly engaged workforce are 21% more profitable!
- Providing opportunities for professional growth and development. By focusing on employee development and providing employees with opportunities to learn and advance their careers, you create a company where employees feel valued, respected, and motivated to contribute their best work. Providing your employees with impactful professional development can often feel overwhelming. But that’s where Grace Hill helps you shine. Our industry-leading content covers a wide range of topics, from leasing and customer service to maintenance and compliance, ensuring your team has the skills they need to succeed in every aspect of their role. Even better, you have options. While some choose to buy individual credentials with Visto, most organizations want a comprehensive training solution to develop their people and protect their business.
- Prioritizing work-life balance and employee well-being: Work-life balance is increasingly important to employees, and focusing on this creates a more positive and supportive work environment that attracts and retains top talent. This can be achieved through flexible work arrangements, competitive benefits packages, and a focus on creating a positive work-life balance culture.
By emphasizing the intrinsic rewards of the job, such as the opportunity to positively impact people’s lives and contribute to the success of a growing industry, you can attract candidates who are genuinely passionate about multifamily and are more likely to be engaged and committed employees.
Don’t let these hiring red flags derail your team’s success! You want a top-notch team, and Grace Hill can help get you there. Our training, policy, and assessment solutions can maximize the value of your talent investment and improve your bottom line!
