To succeed in their careers, property management staff in Australia need to continually develop their skills, gain confidence, and access additional resources. At Stills Properties, we believe that mentoring programs are an effective way for property management staff to achieve these goals. In this blog post, we will outline five key reasons why property management staff in Australia should consider participating in a mentoring program.
Employees are Seeking Career Development:
According to the CIPD’s Employee Outlook Survey, 22% of employees are looking for a new job. Research also suggests that “lack of opportunity” was the primary reason for individuals leaving their organisations over the past year. Participating in a mentoring program can help property management staff gain access to career development opportunities that they may not have had otherwise.
How to Implement: property management staff can seek out mentoring opportunities within their organisation or through professional organisations in the property management industry.
Employees Want Mentoring:
Recent research by Penna has found that 20% of employees would like to be mentored but are not currently receiving mentoring, and an additional 40% of employees have never had the opportunity to be a mentor or mentee. property management staff who participate in mentoring programs can fulfil their desire for mentorship while also gaining valuable insights and guidance from experienced mentors.
How to Implement: property management staff can express their interest in participating in a mentoring program to their supervisors or seek out mentoring opportunities through professional organisations.
Mentoring Provides Opportunities for Learning and Development:
A comprehensive study by Gartner revealed that mentoring offers numerous benefits, such as increased salary-grade changes, higher promotion rates for mentors and mentees, and higher retention rates for both parties. This indicates that mentoring is a valuable tool for property management staff who want to develop their skills and advance in their careers.
How to Implement: property management staff can participate in mentoring programs that are specifically designed to help them develop their skills and gain experience in their field.
Mentoring Benefits the Organisation:
Mentoring programs can benefit organisations by reducing turnover, increasing organisational commitment, promoting knowledge sharing and retention, and enabling early identification of top talent. Many executives who have had a mentor say it played a key role in their personal career success. For that reason, mentoring is considered a best practice in developing high potential.
How to Implement: Organisations can create and promote mentoring programs that are specifically designed to benefit property management staff and the organisation as a whole.
The Most Successful Organisations Have Mentoring Programs:
Research shows that 71% of Fortune 500 companies have a mentoring program in place. These companies recognise that the learning and development that leaders can gain through mentoring relationships is difficult to gain through other methods such as training classes, seminars, and books.
How to Implement: property management staff can seek out mentoring opportunities within their organisation or through professional organisations that have established mentoring programs.
Participating in a mentoring program can help property management staff develop their skills, gain confidence, and access additional resources that can help them succeed in their careers. If you are a property manager in Australia looking to benefit from over 30 years of experience building successful property management businesses, reach out to to Stills Properties today!