Performance Management in the Real Estate Services Sector
Performance Management relates to monitoring the performance of employees. It proves out to be a crucial factor in improvising the key areas where the organisation is concerned about. Performance Management in the Real Estate Sector is an essential factor as it involves determining the trends and using certain strategies to shoot them.
There is a growing acceptance in the real estate services sector in the culture change being brought about across the world. The relationship between an employee and an employer is evolving and transcending levels, as the work life balance thins. It is an integral relationship which has never been as delicate, yet never been as strong before.
An Opportunity to Boost Productivity
This is an opportunity organizations in the real estate services sector should capitalize on. The work we have chosen to do is not easy, and ensuring that employees stay motivated is a task. Customer satisfaction depends greatly on the human capital being invested in, and it has the risk to be a vicious cycle.
By having a healthy investment in developing human resources, it plays to the tune of the oncoming revolution and boosts productivity beyond traditional levels. While the increased investment in a non business area of the organization might not seem to yield immediate results in the top line, the results are certain and benefit the organization over the long term.
What is Performance Management?
In its nature, performance management is the process of encouraging a conversation between a reporting manager and the immediate team member. The result is supposed to be complete clarity in expectations, planned road map to improved performance and complete alignment with the organization goals.
The challenge, however, is to conduct these processes for a majority of employees in a real estate services organization – and most of them are on the field, without regular access to technology. The costs involved in setting up the necessary infrastructure discourages organizations from taking this essential step. Performance Management in the Real Estate Services sector refers to determining, executing and uplifting the areas under performed.
Listening to the Grassroots
At SILA, a chunk of our middle management has been identified and groomed from the grassroots. Thus, we have managers with significant experience of being on “the other side”, and therefore conduct their duties with distinct empathy.
We have been the first real estate services provider to identify the need to empower the front line, and have been investing in technology to acquire the required information. We believe that this would help us take better decisions, keeping the entire organization in mind.
SILA is a Real Estate Services company with expertise in Facility Management, Real Estate Advisory, Project Management & Interior Contracting, servicing clients in over 50 cities with 4,000+ employees. The company’s Facility Management clients include Mumbai International Airport (T2), J&K Bank, Piramal Enterprises, Adlabs Imagica, Tata Sons, WeWork amongst others. SILA’s Projects division has projects across property asset classes – Hospitality, Industrial, Commercial, Mixed Use, Retail, & Residential, and Turnkey Interior Contracting for Commercial Offices, Restaurants & Retail Stores to its service offerings. SILA’s Advisory business provides with a comprehensive range of services such as Research, Valuation, Feasibility Studies, Equity/Debt Syndication for Real Estate Projects. SILA’s goal is to use the experience gained across all our services and projects, to provide our clients with in-depth advice and support for their Real Estate.