8 Reasons Staff Evaluations Benefit Your Real Estate Investment
Here’s what I heard during an employee interview recently…
I was surprised to learn that the housekeeper had not had an employee review in over ten years. She had no idea whether her service was appreciated or aligned with the principal’s goals and values, and she had no idea if she needed to improve her performance — so she continued to do what she thought was her best. Numerous house managers had come and gone during her employment, and the new estate manager told me this was important, but she had more important issues to address.
As a homeowner, your staff is your most important asset when building a residential real estate portfolio
With them, your property values will stay high, and the enjoyment of owning these homes can feel manageable. Ensuring your staff feel heard, supported, and appreciated goes a long way toward fostering a productive and loyal team and protecting one of your most valuable personal assets.
This small gesture requires no massive time commitment — just a one-hour appointment with each staff member. Here’s why this investment is invaluable and how to make the most of it.
A platform for growth and connection
Scheduling a one-on-one review with your staff sends a powerful message: you care about them as individuals, not just as employees. During this time, your staff can share their highs and lows, highlight areas where they need support, and offer feedback on how operations can improve.
Be prepared for surprises
You may hear insights or suggestions you hadn’t anticipated. While some staff members may feel nervous about this new process, providing an evaluation template one week before your appointment and giving them time to process what they want to say should ease their apprehension. Once they’re at ease, let them speak. This is their time to shine.
Jump-start this process:
Benefits for homeowners
Spending this dedicated time with your staff offers multiple rewards:
Proactively troubleshoot issues: Address staff concerns and operational challenges before they escalate.
Receive direct feedback, without relying on intermediaries.
Receive enhanced service: Discover ways to improve household operations and provide better service to your family.
Strengthen staff relationships: Build rapport and trust with your team, creating a more cohesive working environment.
Understand whether their goals and objectives align with your family’s needs and desires.
Identify who is truly happy and fulfilled in their role.
Evaluate whether staff members are in the correct positions or if employment shifts are necessary.
Determine areas where additional training or classes could benefit your team.
Hidden benefits for your staff
Staff members are more likely to improve their performance when they feel heard. Knowing you track their goals and accomplishments can inspire them to shine. This process also allows you to recognize outstanding performance.
Rewarding excellence
Recognizing excellent performance is critical for fostering loyalty and motivation. If you’re ready to reward your team, consider this:
PRO TIP: Give them cash if you want to see your staff’s eyes light up!
(If your accountant has concerns, classify these as gifts or tips rather than as payroll compensation.)
If bonuses must be paid through payroll, ensure the net amount is meaningful and reflects the employees’ hard work. The bonus should be substantial enough to leave a lasting impression and reinforce the value of excellence and appreciation.
If you’re unsure about issuing bonuses…
It’s a great idea to complete two quarters of goal-setting and performance tracking. This approach helps you make well-informed decisions about your team members' contributions, while allowing them to shine and meet their goals. You’re bound to see positive results, and your team will feel empowered to tackle those critical initiatives.
The bottom line
One hour per staff member for a review can pay dividends in operational efficiency, staff morale, and overall household harmony. By providing a space for open communication and recognizing hard work, you’ll cultivate a team eager to please you. Start scheduling those appointments — your team will thank you.
