Grow Your Property Management Business By Training Your People

training-people-in-property-management

By Martin Conboy

The growing economies of Australia and New Zealand have increased the competition for human capital to new heights, making the process of talent acquisition and retention more of a challenge for HR teams and recruitment professionals. Now and in the future understanding modern methodologies, technology, tools, techniques, processes and obstacles to be successful in human resource management is crucial.

Global connectivity, smart machines, and new media are just some of the drivers reshaping how we think about work, what constitutes work, and the skills we will need to be productive contributors in the future.

The future is looming up very quickly, and the old command and control way of running our organisations is passing. For most of us, it’s a work in progress; some will still want to hang on to the old ways and resist change. But these will likely pass and be forgotten.

There is only one constant in business and that is change. If you are not going forward, then you are going backward.

In order to understand what your workplace is going to be like in five or 10 years or 30 years out, you need to think about what your work is going to be like. Here’s a clue: employers will no longer need to pay people to drive to a building to sit and type. Bosses are discovering that there are a lot of reasons not to pay employees to have a huge impact on how we communicate, collaborate and work. Many of the roles and job titles of tomorrow will be ones we’ve not even thought of yet.

To cope with an ever-changing market and technological landscape, organisations need to invest in skills development and learning programs to ensure they remain competitive and are capable of adapting to the future.

Outsourcing the development and delivery of these initiatives means costs can be kept to a minimum.

Let’s agree at the onset that training is an integral part of any organisation; it equips the personnel with the necessary skills required to perform their work. However not every organisation invests in training for their employees and most businesses consider training as an operating expense when it is actually an investment.

There are plenty of reasons to invest in training, like; improving quality, better productivity, amplified motivation it also helps to engender loyalty. Training helps in building capacity within an organisation, and investing in people is vital.

According to HR Magazine, companies that invest in $1,500 or more per employee per year on training average 24 percent higher profit margins than companies that don’t.

Training delivery often requires specialised knowledge and sophisticated technology platforms that must be regularly updated. This makes it an ideal function for outsourcing.

Existing employees need to acquire new skills and abilities to cope with the challenges wrought by digital disruption. Yet the knowledge they have about the company, its value proposition, and its products needs to be transferred to the new generations entering the workforce.

Analysis from a study conducted by Accenture, showed that training has measurable effects not only on employee performance, but also on recruitment, retention, chargeability, and bill rates.

Though the benefits of employee training are clearly proven and documented, the ability and willingness of organisations to invest is not always front of mind.

Depending on the skills required, training could be expensive to implement and deliver effectively. In terms of soft skills, clear ROI can be difficult to calculate. After all, how does one measure outcomes if ‘soft skills’ is the input? That’s a debate for another day, but as a quick example, soft skills in a property management agency can have a very real impact on the outcome or customer experience.

Training delivery often requires specialised knowledge and sophisticated technology platforms that must be regularly updated. This makes it an ideal function for outsourcing.

A company may require multiple skill sets from a range of disciplines. The skills required in certain areas of the business may be core competencies, but the ability to train people in those areas is not.

Outsourced training allows greater flexibility by offering training precisely when and where it’s needed. Organisations that need employees to stay current with regulatory and compliance issues, technology trends and innovative techniques, will be served better by trainers with specialised knowledge who work with a range of organisations, institutions, and industries.

Experience shows that organisations can save up to 30% on training costs. The most strategic way to source the best training talent at the best possible price is to outsource. Instantly you have a pool of trainers and facilitators, who are industry experts in their field. This commercial experience brings training to life. One of the most cost effective places is your local TAFE or polytechnic college.

To outsource your training effectively and ensure you receive the cost benefits, you need to understand your current and future requirements and how they align with the objectives and goals of the business. Like any process that is to be outsourced, it must be documented and the outcomes required are fully articulated.

Training that focuses on specific knowledge about the company and its products, may be best handled internally. Particularly as it may require the involvement of experienced and committed staff to share their knowledge and experience to newer members of the workforce.

But for anything else outsourcing offers a range of benefits and opportunities for organisations that want to stay competitive.

 

Martin Conboy
Martin is well recognised as one of the leading voices of the outsourcing industry and its role in facilitating outsourcing success throughout the Asia Pacific.  Martin was voted into the top five most influential and respected people in the global call centre outsourcing industry in November 2014.  Martin is an accomplished writer and public speaker and has delivered keynote addresses at BPO – ICT and Shared Services conferences in Australia, Bangladesh, China, Hong Kong, India, Korea, Malaysia, Mauritius, Middle East, The Philippines, Singapore, Thailand and USA.

Martin is a Director and shareholder of Virtual Property Manager a new and innovative business model for the Property Management space.

 

http://www.huffingtonpost.com/emad-rizkalla/not-investing-in-employee_b_5545222.html

http://www.lastingcontribution.com/Documents/Accenture’s%20ROI%20in%20Training.pdf

https://www.linkedin.com/pulse/20140630213433-26967027-what-are-the-5-key-benefits-of-training-outsourcing

 

 

 

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