All posts by Multifamily Leadership

Tom Shelton, Principal at Shelton-Cook Real Estate Services, shares his expertise and insights regarding what it takes to build a great culture of success for Multifamily Operators. He brings more than 35 years of experience with various organizations and shares what he has learned, experience, and personally observed throughout those years.

MULTIFAMILY LEADERSHIP SUMMIT | MASTERMIND | TOM SHELTON

QUESTION 1: What are some challenges and fears that you’ve faced and been able to overcome?

1. Transferring experience
   1. Transition from large organization and implementing procedures into a smaller organization
   2. Difference between listening and hearing
2. Solutions
   1. Make sure you understand the feedback
   2. Respond accordingly

QUESTION 2: What is one great achievement or career milestone that you’ve experienced and do you have any pointers?

1. Developing Relationships
   1. Nationwide
   2. Across business lines
   3. Great industry for sharing experiences
2. Mentorship
   1. Helping leaders grow and promote
   2. Watch people develop careers
3. Growth Opportunities
   1. Great career paths available
   2. Rewarding

QUESTION 3: Are leaders born or can they be trained and groomed to become good leaders?

1. Born / Trained Leadership
   1. There are people born with leadership potential and characteristics
   2. To truly develop into a leader, they need to be trained and groomed
2. Manager v Leader
   1. Many people excellent at following directions
   2. Leaders are the ones that make the list of directions to be followed
   3. Leaders set the culture, environment

QUESTION 4: Other comments regarding training?

1. In-Person Interaction
   1. Between trainer and field staff is very important
   2. Extra money set up in budget for personalized training

QUESTION 5: What is one tip you can give to others that is unique to yourself – a “success tip”?

1. Be a decision maker
   1. Make a decision and make it quick
   2. Do not waste time

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• Shelton-Cook

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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• Shelton-Cook