Here's How to Align Your HOA Management Team Around Common Goals in the New Year
Aligning your HOA management team around common goals is crucial for long-term success, and as we approach 2024, it's an opportune time to do so.
Here, we explore practical ways to ensure your team is on the same page and ready to conquer the new year with a shared vision.
Make Your Goals Reasonable and Achievable
Setting the right goals is the first step towards success. While it's tempting to dream big, starting with reasonable and achievable objectives is essential. Yes, you can aspire to serve one million communities, but it's equally important to create a network of smaller goals that lead toward these significant benchmarks.
To Make Your Goals Effective:
- Make Them Measurable: Goals should be trackable. Whether it's gaining new clients or improving employee morale, establish specific metrics or milestones to assess progress. For example, set a target to "increase resident satisfaction rating by 10% by Q2 2024." Tip: Use key performance indicators (KPIs) to quantify progress and ensure everyone shares the same understanding. Review and share these metrics regularly to foster accountability and motivation.
- Break Big Goals Down: Large goals can be overwhelming. Divide them into smaller, manageable tasks or milestones. Instead of aiming for a dozen new clients, consider targeting one new client per month. Don't just decide to reduce costs; look at your company's total spending and consider smaller goals such as "reduce spending by 5% per quarter for all of 2024." Tip: Create a roadmap or task list that outlines the steps to reach each goal. This will promote a systematic approach and provide individuals or teams with direction.
Align Your Goals with Your Company's Values and Needs
Your goals should reflect your company's mission, vision, and values. Consider your company's identity and long-term aspirations when setting goals for the new year. Prioritization and realistic timelines are vital to ensuring that your company drives the plans, not vice versa.
To Align Your Goals Effectively:
- Prioritize Goals: Determine the importance and urgency of each goal to avoid losing focus. Assign levels of importance based on feedback from your team.
- Set Realistic Timelines: Balance ambition with feasibility by considering available resources, time constraints, and capabilities. Collaboratively establish timelines with input from relevant team members.
- Involve Your Staff in Your Goal Management: Your staff plays a crucial role in achieving your goals. Their insights and expertise are valuable resources. Engage your team in the goal-setting process to ensure everyone is on the same page and motivated to work towards common objectives.
To Involve Your Staff Effectively:
- Get Internal Buy-In: Ensure your staff supports your goals and aspirations. Create an open forum for them to voice their opinions and concerns.
In community association management, many variables and voices are involved in the decisions being made on a client level that directly impact or reflect on the community association management company. Your managers are the boots on the ground who will know best what client needs are most prominent and how those needs translate to business needs and opportunities. Inviting their voices to be heard gives them a sense of importance and gives your management company an edge.
- Regularly Review and Adjust Goals: Encourage an open and transparent environment where team members can suggest adjustments based on changing circumstances and emerging priorities.
Starting the new year with a SWOT analysis (an exercise that assesses Strengths, Weaknesses, Opportunities, and Threats) is excellent for establishing where each client may be and where your community association management company may sit.
Consider All Options
Despite how beneficial vital goals are for a community association management company, setting and managing those goals can feel overwhelming. The tasks needed to set up successful goals, like building prioritization matrices, assessing company spending habits, and surveying staff and clients to determine happiness – that's a lot of leg work. So, if you know that your absolute first goal for 2024 will be simply finding the time to start the goal-setting process, we can help.
Virtual Employees are incredible assets when it comes to doing heavy lifting. Task a HireSmart VE with foundational goal-setting tasks, and you'll be ready to tackle big and small goals throughout the new year.
"Teamwork makes the dream work" is a saying for a reason. Working effectively with your staff is a huge step toward success that every business can and should take. We'd love to join your team and help you reach your goals in 2024.
Click here to set up your free consultation today.