Extensive training offered to new recruits is the key to decreasing the property management industry’s high employee turnover, according to one leading industry stakeholder.
Jo-Anne Oliveri managing director of ireviloution intelligence said the employee turnover rate is costing real estate business owners and consumers time and money and something had to be done.
“There is a gap in learning between the theoretical legislative training newcomers undertake to get their registration and when they are actually hired – they are not taught ‘property management processes’ until on the job,” Ms Oliveri said.
“When newcomers get their registration, they get a job, a desk, an existing portfolio to manage and are then left to learn (or make up) these processes as they go, which usually means picking up the experienced team members’ bad habits.”
This ‘sink or swim’ practice creates a cycle of bad habits, burnout, job dissatisfaction and consequent high employee turnover.
“After only months of employment, these tired, stressed and overworked new recruits literally sink so it’s no wonder they leave their job, or in some cases the industry,” Ms Oliveri said.
To help address this issue, Ms Oliveri has developed the ireviloution intelligence International Property Management Academy (iiIPMA) to bring more and better-trained employees to the industry by teaching them ‘the practical side of property management’.
“This is what the industry’s been missing – training that bridges the gap between the required theoretical legislative training and when newcomers actually get a job,” she said.
According to Ms Oliveri, by understanding both the theoretical and practical side of property management, new recruits have a better chance of turning their job into a prosperous, long-term career.
“This means the employee turnover rate will reduce, business owners will spend less time and money having to replace team members and property owners and tenants will receive a more consistent and professional service,” Ms Oliveri said.
The academy is also open to experienced property managers who want to upskill and advance their careers within the industry.
Each iiIPMA course concludes in an online assessment which students must pass before receiving a Certificate of Completion and proceeding to the next course. After successfully completing the eight programs, students receive iiIPMA Accreditation.