Hire a Staffing Company for Your Property Management Company to Improve Your Real Estate Business

Hire a Staffing Company for Your Property Management Company to Improve Your Real Estate Business

Hiring people for your company is one of the most important decisions you can make when you grow your company. They say you are only as good as those surrounding you, and they are right! A great employee can mean the difference between success and failure. But finding the perfect fit is challenging; how can you tell if the person you just interviewed will do his job as expected? How do you know you can rely on them to handle your tenants while keeping your company’s interests in mind?

Larger companies understand the importance of finding the right people and building the right team. They are aware that the cost of replacing an employee can be 0.5-2 times his annual salary! Sounds too high? Consider hiring costs, training time, and the mistakes he will make along the way, and you will reach that estimation quickly. Every large company has a dedicated HR department responsible for recruiting the right people, but even those large companies often need help. Why? Because it takes real professionals and solid processes to master recruitment. Is all hope lost? Are you doomed to work with mediocre employees and struggle when they or you decide to part ways? There is hope, and it’s actually cost-effective and significantly leads to better results. Using a nearshore staffing company:

Hiring in the US is so expensive; is there a better option?

While hiring in the US can be expensive, going to countries like Mexico could save up to 60% of your hiring costs. Alternatively, if you have a specific budget, hiring in a nearshore location could attract much more capable talents. Mexico isn’t just a fantastic location for a summer vacation; it’s also where the biggest companies in North America have moved their workforce because the talent pool is vast at reasonable prices. Companies like Tesla realized that they could reduce their costs significantly while maintaining the quality of their employees. If Elon knows it, so should you!

Remote teams in Mexico wexpand

“Nobody wants to work anymore” 

Property management companies typically have limited budgets to hire employees. The talent pool available to serve in this industry is limited. The bigger the city, the more companies compete for a limited talent pool. As basic economics teaches us, the higher the demand, the higher the cost for promising talents. In many cases, smaller companies need help to acquire such talents and, as a result, prohibit them from growing (remember, your team is vital to your growth). But from your current staff, how many need to be based in your headquarters in the US? Does Mary, who does your accounting, need to be in the room next door? Does John, who reviews your leasing agreements, have to drink coffee in your kitchen? The answer is not. If there is one thing that Covid-19 taught us, people can work remotely, and it would feel like they share the same space as we do. A great solution is to use the budget dedicated to the Johns and Marys, which, for them, will mean a minimum salary and offer it in different talent pools where those salaries are considered attractive and would attract better profiles. 

Expertise in recruitment

Remember how big companies have developed ways to hire professionals? Sounds expensive? It is, and that’s why this isn’t your solution. Alternatively, you can contact a staffing agency to do the work for you. Staffing agencies are precisely that: they function as your HR arm without the associated costs. Depending on your agreement, you can compensate the staffing agency based on results, and only when you hire do they earn, meaning your interests are mutual. They benefit if you are happy with your employees and choose to work with them for a long time. Great staffing agencies have solid processes and security protocols. They are not merely recruiting for you but provide you with secured office space and comprehensive IT support. After a rigorous process, they will review dozens of candidates and present you with the final candidate – all are great fits for your company. Like a kid in a candy shop, you have to choose the one that fits you best. This relieves you of the burden of recruitment, allowing you to focus on other aspects of your business.

“Mexico is not just Cancún” 

remote teams mexico

 Why is Mexico a great candidate for your nearshore team? It starts with cultural similarity – Mexicans and Americans share a deep cultural connection. The Mexican culture is embedded in the US culture and vice versa. Many Mexicans speak fluent English, and many times, you won’t be able to tell if it’s an American or Mexican speaking with you. The same cannot be said when you speak to a representative from the Philippines or India. Naturally, we tend to put more trust in what is familiar to us, and the advantage is enormous. However, cultural similarity is not the only factor. Mexico is in the same time zone as the US, which makes communication with your remote team much more accessible. If you want to visit your remote office, it may take a 2-3 hour flight, and you are drinking coffee with Maria and Jose. With remote teams on the other side of the world, such connection is not possible, and that can have implications on the loyalty and motivation of the remote team, which may see their role only as a job rather than as part of a team.

Legal liability: free from the threat of a labor lawsuit 

Having a staffing company recruit for you means they also act as the employer on record. That means your liability is limited to the agreement you signed with the staffing company and not directly with the employees. In difficult situations, you will have a professional team backed by a legal team and local expertise with labor laws to handle any issues. This provides a sense of security, knowing that you have a reliable partner to navigate any legal challenges that may arise.

Turnover rate reduced 

How often have you asked yourself why you didn’t anticipate Mike’s two weeks’ notice? Recruiting yourself is like going into a casino; sometimes, your bet works, but most of the time, you fail. Using a staffing agency means your recruitment process is done professionally following a solid process; hiring better will significantly reduce your company’s turnover rate. That means higher productivity and better stability for years, leaving you to focus on the next steps of growing your business.

Recruitment is the core activity to the success of any company. Given the cards you are handed, you must make the right decisions within your budget. Nearshore recruitment is an intelligent choice if you make sure your company is ready for that, and using a staffing agency as your HR arm saves you many issues that might arise from moving part of your team to a different country like Mexico. You will save money, hire better talents, and see a reduction in your overall turnover rate. All of these will translate into an improved performance in the long run.

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