Having customers are very important to the success of any business, not just the self storage industry. It is easy to think that they are the good thing that the company needs to hold on to. However, even the best customers/tenants will leave at some time regardless of what you do. As important as tenants are there is something else that is even more important for a company to hold onto—good employees.
Towards the end of last year economists began to predict good things for the economy in the coming months. As January rolled on more and more analysts began to say the same thing, predicting hirting gains in several industries in the process. This has left an open door for those with exceptional skills in the right field to earn a wage more commensurate with their abilities.
The self storage industry happens to be one of those industries expected to see an increase in demand for quality employees . As the American work force continues to be migratory to a degree (and in need of self storage services) more and more self storage facilities will continue to pop up around the country. As the number of facilities grows the need for competent employees will grow with.
Turnover is never a good thing for a company. It does not speak well of the work environment or the health of the organization if no one wants to stick around for very long. If you are always having to train new people it can be hard to provide a level of service that you may want to and that your tenants demand.
The challenge for some self storage companies in the coming months will become trying to figure out how not to lose their employees to other companies. However, it is entirely possible to keep your employees happy and right where you want them to be (working for you).
Keep them happy. This can come in a number of ways. Many people are happy to know that their opinion matters in the broad scheme of things and just want to be heard. That does not always mean you have to do what they suggest; employees are not always aware of the reasoning behind certain decisions (nor do you have to make them aware).
Just listening to them and their needs, thoughts, etc though can make them feel like they are important right where they are, working for you.
While you are listening the them and making them as happy as you can, you also want to make sure you don’t run them into the ground. When you have a willing employee it is hard not to let them work as often or as much as they like. In the long run though they will only become exhausted and burnt out. Although your short term results will likely be fantastic, in the long run you’ll end up having to find someone new.
When it all comes down to it there is one thing that can make your employees feel happy, listened to, respected, and loyal to you—pay them appropriately. If they are excellent workers that you have had for some time than be sure that you are paying them what they are worth.
Of course there are reasonable limits to this; if they simply want too much you will have to let them go. If their salary demands/needs are reasonable think about how well they run your self storage business and then give them what they are worth.
Sources Used:
“Safeguarding Your Self-Storage Business Against Employee Turnover.” Inside Self Storage; 11 March 2011.
“Happy Employees the Key to Success in the Self Storage Industry.” Self Storage Industry News; 13 December 2010.