Tom Shelton, Principal at Shelton-Cook Real Estate Services, shares his expertise and insights regarding inspiring financial results with valuable leadership practices designed to create great residence experiences and understanding the next generation workforce.

MULTIFAMILY LEADERSHIP SUMMIT | THE FUTURE OF WORK PANEL DISCUSSION | TOM SHELTON

QUESTION 1: What are some leadership best practices with success stories that demonstrate how those practices impact financial results within your organization?

  1. Employee-Driven
    1. Employees establish protocol
    2. Develop mission statement
    3. Goals and objectives
    4. Coin of Excellence – Recognition program
    5. Education Committee works with training department
  2. Accountability
    1. Team leaders are focal points
    2. On-site property managers, portfolio managers
    3. Personal coaching and counseling for employees
    4. Helps managers focus on hiring and interviewing process

QUESTION 2: How can culture help to drive financial results and productivity?

  1. 4 Stakeholders
    1. Employees, Residents, Clients, Service Vendors and Contractors
    2. Talk to vendors about company culture
  2. Creation / Maintenance of Culture
    1. Starts at the top
    2. How you act, dress, look, communicate, etc.
    3. Culture helps to retain talent
    4. Engage employees – spirit committee
    5. Celebrate successes as a group
    6. Share failures as a group

QUESTION 3: How does communication impact effectiveness within your organization?

  1. Communication Program is Critical
    1. Employee issue, performance issue – news must travel fast
    2. Email should not be primary form of communication
    3. If it is at all possible, use a telephone
    4. Tone cannot be interpreted through text, email
  2. Weekly Manager’s Call
    1. Open call for one hour
    2. Open forum for current issues
    3. Available to everybody
    4. Useful software for communication
  3. Book of the Month
    1. Motivational and success books suggested
    2. Online blog
    3. Managers share thoughts and ideas
    4. Very successful among associates

QUESTION 4: How does your organization approach employee engagement and employee retention?

  1. Focus Groups
    1. Employees are asked questions frequently
    2. Example: Tattoo Policy
    3. Associates participate in the process, they were engaged
    4. No dictatorial approach
  2. Employee Functions
    1. Any time you can get employees out with your logo, it increases enjoyment and loyalty
    2. Positive feedback from associates

QUESTION 5: How do you keep your associates motivated and growing?

  1. Growth
    1. Hiring from outside the company
    2. Move people through the system
    3. Clear career path, mentorships
    4. 5 Star Academy
    5. Opportunities for teaching and learning, training

QUESTION 6: How do you effectively execute a plan and why is it important?

  1. Managing Expectations
    1. Define and communicate expectations
  2. Leadership
    1. If you’re leading, make sure they’re following!

QUESTION 7: How do you maintain credibility as an organization?

  1. You Can’t Fake It
    1. Either you have it, or you don’t
    2. Certain ways you can improve it
    3. Be focused on business, clients, goals

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