Property Management

November 3, 2023 Published by Toronto and Area Chapter - By Katherine Sebben

Innovation & Technology

From the Fall 2023 issue of CCI Toronto Condovoice Magazine.

Condo Management Companies Can Prevent Staff Turnover by Exploring New Technology and Improving the Employee Experience

In today's rapidly evolving workforce landscape, condo management corporations in Canada are facing a new challenge: an increasing turnover of staff, particularly among the younger generation. As this demographic seeks out more innovative and engaging workplaces, it is crucial for condo corporations to adapt their practices and embrace a management company with a forward-thinking outlook. By exploring new technology and improving the employee experience, condo management corporations can attract and retain talented professionals who will contribute to the long-term success of their communities. Condo boards should ensure they are diligent when choosing a management company to ensure your condo is set up for success for years to come!

Consider the current and upcoming workforce. The younger generation, comprised of millennials and Generation Z, is reshaping the expectations of the modern workplace. They prioritize flexibility, work-life balance, and opportunities for growth and development. Unlike previous generations, they are less likely to stay with one employer for an extended period. Condo management corporations must acknowledge these changing dynamics and proactively address them to remain competitive in attracting and retaining top talent. It is time for our age-old industry to embrace innovation!

Traditionally, the condo industry has been known for its conservative approach to technology adoption. However, the time has come for condo corporations to shed this image and embrace innovation. By integrating technology into their operations, these corporations can streamline processes, enhance communication, and create a more engaging work environment. This innovative outlook not only benefits employees but also improves the overall efficiency and effectiveness of the organization, which allows the company more time to focus on providing great service to their customers! There is a lot available to businesses and it is crucial that the condo industry is not left behind. Employees are not just wanting technology in the workplace, they expect it. Make sure you enable your employees with basic tech such as digital timesheets, Enterprise Resource Planning (ERP) software, automated invoice entry, and video conferencing abilities.

A key factor in attracting and retaining talent is providing a positive employee experience. Condo corporations should encourage their management to invest in technology that enhances productivity and simplifies administrative tasks. For instance, implementing property management or bill pay software can automate routine processes, such as invoicing and maintenance requests, reducing the burden on employees and increasing their efficiency. By leveraging digital tools, employees can focus on more value-added tasks, leading to a greater sense of accomplishment and job satisfaction. What’s more, when staff retention is high, it creates consistency for your customers, once again allowing the business to focus on providing long term great customer service.

The COVID-19 pandemic has revolutionized the way we work, accelerating the adoption of remote work practices. Condo management corporations must adapt to this new reality and explore the possibility of remote work for certain roles. Offering flexible work arrangements not only attracts talent but also boosts employee morale and work-life balance. By embracing remote work, condo management companies can tap into a larger pool of candidates, regardless of geographical constraints, and with technology, remote work has never been easier! Put in-person tasks such as cheque signing and filing in digital formats in order to offer more flexibility to your staff. Allow them to actually spend time in their condos.

Along with flexibility, younger professionals prioritize opportunities for growth and development in their careers. Management corporations should provide avenues for employees to enhance their skills and knowledge through training programs, mentorship initiatives, and continuing education. By investing in the professional development of their workforce, corporations not only empower their employees, but also cultivate a culture of innovation and continuous improvement. Investing in your staff to prime them for senior roles helps to also ensure consistency for your customers! You can ensure your tenants will experience great customer service for years to come by investing in your best employees and giving them opportunities to grow their careers.

One of the most exciting areas of innovation for condo corporations lies in the adoption of smart building technologies. From energy-efficient systems to accounts payable processes, these technologies can significantly enhance the resident experience while reducing costs. Additionally, they can streamline property management processes, improve communication channels, and optimize maintenance operations. By researching and implementing smart building technologies, condo management corporations can position themselves as leaders in the industry and attract talent who are passionate about sustainability and efficiency. As well, when you utilize technology to ensure optimal internal efficiency, your business will have more time to focus on even larger environmental and sustainability projects.

Effective communication and collaboration are essential for the success of any organization. Condo management corporations can leverage technology to enhance internal communication channels and foster collaboration among teams. Cloud based platforms, project management tools, and messaging apps enable seamless information sharing, virtual meetings, and collaborative workspaces. By embracing these platforms, condo management corporations can overcome geographical barriers and create a connected and engaged workforce, allowing you to work faster and better with your teams.

As the younger generation seeks out more innovative workplaces, condo management corporations must adapt their practices to attract and retain top talent. Embracing innovation and technology is crucial for meeting the evolving expectations of employees and enhancing their experience. By investing in new technology, offering flexible work arrangements, promoting professional development, and exploring smart building solutions, condo management corporations can create a workplace environment that appeals to the younger generation. It’s apparent the way we work is changing, and by embracing these changes, condo corporations can position themselves as leaders in the industry, attract exceptional talent, and thrive in the dynamic landscape of the future. Embracing a more modern workplace will also come with added benefits such as being able to provide better customer service, allowing more time to be spent on sustainability initiatives, and creating more internal consistency for the business. Condos are rightfully known as a “bricks and mortar” industry, but will need more than just good architecture to stand the test of time!

Katherine Sebben
Sales Manager CondoWorks