Is it possible for real estate businesses with remote employees to build a workplace culture? More importantly, if it is possible, can they enjoy the benefits that are so commonly associated with such a community?
Workplace culture and their subsequent communities are hot trends in the business world. They may be as equally important and valuable to real estate companies as they are for Facebook, Google, Yahoo and the Huffington Post. Having said that, is it possible to achieve a beneficial workplace culture despite virtual and remote workers in different states, and even different countries? If not practical, what intelligent moves could help brands achieve the same type of results?
These trends aren’t only hot because of the media attention they continue to receive. Communities can offer many tangible benefits for businesses. Beneficial aspects of a community may range from branding and visibility to talent retention, to reducing HR and labor expenses. That means higher profit margins and better odds of bigger successes for longer periods. Yet, the ability of real estate companies to integrate these trends and concepts are perceived to be hampered by another, possibly far larger trend.
Outsourcing for Real Estate Companies
Outsourcing is no less of a trend than workplace culture. In fact, it plays a far more immediate and direct role in achieving most business’ immediate goals and objectives. From solo investors to real estate tech startups, outsourcing is now the norm, not the exception. 40% of the entire workforce is expected to be working remotely in the next couple of years, if they aren’t already. In the real estate industry, which began embracing this trend as far back as 2005, 100% of the staff in most organizations could be filled by remote freelancers.
This isn’t just a temporary fad. High speed internet is increasing the number of individuals that can compete in this capacity, enabling them to be more productive. It’s literally changing the real estate landscape. Location-independent workers can now move out and get more for their money, even beyond the suburbs. Others may maintain apartments in multiple cities, or backpack full time. This is going to be a lifestyle hard to change, and bring in-house, even if it could ever make sense for businesses to do again. So is community building and employee engagement possible in these organizations?
Strategies for Virtual Employee Engagement
It is definitely possible. Whether by video conferences, annual gatherings or company retreats, invites to local events or internal updates and a social intranet. But do they want it?
These workers may certainly want to be a part of something bigger, and can benefit from better connectivity and knowing what is going on in the rest of the company, as well as future plans. Companies can benefit from having remote staff better engaged too. Again, this includes branding, recruiting, keeping good employees, keeping escalating labor and hard overhead expenses down, increasing productivity, lowering management expenses, enhanced reliability, and lower churn.
However, most are freelancing for a reason, and would never want to go back to their cubicle cells, and may have little desire to waste time in frivolous activities that aren’t turning in income. They may prioritize family time more, freedom to travel, uncommon work hours, low career costs such as commuting, gas, clothes, time on the road, and be more interested in more time earning and doing the real work. Great work, and work they love.
Fortunately there are other ways to yield the same benefits as in-house community building, but without the waste, distraction or budget blowouts. Think about the top concerns and needs a freelance worker may have. This includes clients that pay on time like clockwork. How about showing a little appreciation with a simple thanks, remove uncertainty by letting them know what’s ahead in terms of hours and longevity of their positions, encouraging paid vacation time, and even offering health benefits and tax help? Third party outsourcing platforms like oDesk actually can enable freelancers to get health benefits and get paid as W2 employees, at no extra cost. Consider giving them credit for the work. If their name is on it, the motivation to shine will be even higher.
