Bill Nye, a leader in the military and private sector, talks about leadership in multifamily. Key topics include the importance of taking care of your people and building human equity, maintaining focus on the mission, intentional leadership and culture, investing in talent, embracing a nickname, and the upcoming book 'Culture Grows'.
Leaders should align their leadership style with the culture of their organization.
Leaders must actively seek feedback from various levels and positions within the organization to gain valuable insights and identify areas for improvement.
Leaders in the multifamily industry should view their teams as part of the solution, invest in talent, and create an environment where A-players can thrive.
Deep dives
Importance of understanding culture and prioritization as a leader
As a leader, it is crucial to understand your company's culture and how to prioritize effectively. One key aspect is recognizing the difference between a culture of freedom and a culture of control. Each has its benefits and challenges, but it's essential to align your leadership style with the culture of your organization. Additionally, maintaining a clear vision and mission is crucial, especially in times of crisis or market shifts. Leaders must ensure they never lose sight of the mission and values that guide their decisions and actions.
Recognizing signs of getting off track and the importance of listening to all
Leaders should be aware of signs that indicate they may have gotten off track or deprioritized certain aspects of their business, such as reviews or feedback. It's crucial to listen to everyone, not just those who are loyal or say what you want to hear. By actively seeking feedback from various levels and positions within the organization, leaders can gain valuable insights and identify areas for improvement. Additionally, it's essential to avoid falling into the trap of believing your own success or press and continuously evaluate the alignment between your company's values and actions.
Dealing with challenges, maintaining work-life balance, and hiring the right people
Leaders in the multifamily industry are currently facing challenges such as increasing insurance rates, taxes, and labor costs. It's important not to blame or restrict employees for these challenges, as they are not the cause. Instead, leaders should view their teams as part of the solution and embrace their creativity. Maintaining a healthy work-life balance and providing flexibility for employees can contribute to their overall job satisfaction. Additionally, hiring the right people with aligned values is crucial for success. As the industry faces potential high turnover, leaders must invest in talent and create an environment where A-players can thrive.
The Power of Thank You Emails at Night
Sending thank you emails at night can have a significant impact on employee morale and motivation. By acknowledging and appreciating employees' contributions in a personal email, leaders can inspire passion and commitment. This simple gesture shows employees that they are valued and cared for, fostering a stronger emotional connection and loyalty to the company. It creates equity and deepens the personal investment in the organization, leading to increased employee engagement and productivity.
The Importance of Building Human Equity
Building human equity is vital in creating a positive and intentional company culture. Leaders should strive to connect with their teams on a personal level, making individuals feel valued, heard, and appreciated. By building trust and strong relationships, leaders can foster a sense of commitment and dedication among their employees. Creating intentional cultures of freedom, where individuals are empowered and encouraged to excel, can result in a productive and engaged workforce. Additionally, organizations should focus on promoting career paths that emphasize working with one's hands, such as trade schools, to attract and retain talented young professionals.
We sat down for a part 2 with Bill Nye, the Apartment Guy, to discuss leadership in multifamily and how leadership makes the difference in successful operations for property management companies. His philosophy: take care of your people and they will take care of your customers.
About Bill: Bill has a very distinguished and successful career as a leader in both the military and the private sector. While serving in the United States Air Force, he as named one of the 12 Outstanding Airmen of the Year for the entire Air Force and was honored along with his fellow recipients at a dinner at the White House with President Ronald Reagan. He is a graduate of the prestigious Air Force Leadership School and credits much of his leadership philosophies to what he learned while attending the school.
As a multi-family executive, he was named “Executive of the Year” twice by Apts. Magazine, a multi-family publication covering the mid-Atlantic region of the U.S.During his time as the CEO of Caviness & Cates Property Management in NC, his team earned the highest Satisfacts ratings in the country 3 consecutive years and during his time as the COO of Berger Communities in PA, they earned the same distinction two years in a row. While serving as the COO of Berger Communities they were named a top 25 “Best Places to Work” employer for three straight years and a top 10 employer for 2 straight years.
Today Bill runs his own speaking, training and consulting business in Friendswood, Texas. About ResMan: ResMan delivers the property management industry’s most innovative technology platform, making property investments and operations more profitable and easier to manage.
ResMan’s platform unlocks a new path to growth for property management companies that deliver consistent NOI improvement and brilliant resident experiences easier than ever before. To learn more about our platform, visit http://myresman.com/
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