Prepare Your Management Company for These 3 'Unexpected' Situations

"Expect the unexpected" can be a frustrating phrase. By definition, it's impossible to truly expect what cannot be expected, but the sentiment, of course, is to prepare for any possible situation. This is called a contingency plan or a business continuity plan. Essentially, it's ensuring that you and your team can accommodate any significant needs that arise suddenly and without warning by implementing plans of action ahead of time.?

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For community association management (CAM) companies, preparing for every possible challenge can be incredibly difficult. Not only are you running a business of your own, but you're responsible for multiple communities, all of which have the potential to experience sudden struggles.??

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The Cost Benefits of Hiring VEs are Undeniable??? ??

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Instead of planning for every potential problem under the sun, prepare your management company for the unexpected by planning for a few that every business can (and will) face at some point. Align your resources and continuity plans to minimize costs and increase efficiency. Here are three situations your business will at some point face:?

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Community Management Staff Loss?

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In most cases, losing staff members is something business owners have at least a little time to handle. Two weeks' notice is still a respected universal standard, and terminations, while unfortunate, are on your terms. But not all losses can be planned or come with a heads-up. For example, if the manager handling your largest client portfolio suddenly wins the lottery and retires to Aruba with zero notice, everyone else will have to scramble.??

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This will mean more than reassigning those clients to new managers–rebuilding rapport is an uphill task for even the best CAMs. Not to mention the time it will take to adjust schedules for meetings, the influx of homeowners sending emails and making phone calls to ask why Betty Sue isn't their manager anymore, and the exhaustive effort it will take to find, interview, hire, and train a suitable replacement.??

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Natural Disasters?

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A far more unpleasant reality to prepare for is what insurance providers call "acts of God." Whether you service the Midwest and Tornado Alley, the earthquake-laden West Coast, or the hurricane-heavy Southern Peninsula, any natural emergencies should have a?thoroughly documented ?and well-maintained plan for business continuity.?

Tasks That You Can Delegate to a Virtual Employee ?

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This plan should include resources like maps of local shelters, phone numbers for county, state, and national resources like fire departments and the Red Cross, and internal contact information so your staff can check in when safe and find out the company's operational status. And remember, this needs to be kept up to date. Someone should be responsible for updating the information on an ad hoc basis (like in the event of the sudden staff loss mentioned above) and routinely to ensure all information and practices are still correct.??

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Management Company Growth?

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Company growth is always great, even with some unavoidable growing pains. And while most growth comes at a relatively predictable pace with a planned trajectory, there will be times when a boom happens (congratulations in advance!) If your biggest competitor shuts down tomorrow, you aren't going to sit around and let their clients flounder, or worse, go to yet another competitor. You'll rally your team and hit the ground hard to scoop up as much abandoned business as possible.?

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That equates to many hours where CAMs will be doing non-CAM responsibilities, like feeding and nurturing a sales cycle for potentially a very large number of prospective clients. It will mean more meetings to attend as new boards interview you and your staff and an uptick in repetitive phone calls and email inquiries about your services and pricing model. Growth is fantastic, but it is not easy, especially without a plan of action to shoulder unexpected growth.?

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Even though these three events are entirely unrelated, they all rely very heavily on two core needs: bandwidth and communication. And nearly every other unexpected challenge a business can face will require those same two things. To truly prepare your management company for the unexpected, set up plans of action that include increasing your management company's operational bandwidth and streamlining communication to ensure these situations are handled effectively.??

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Tackle the Unexpected with a HireSmart Virtual Employee?

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To get the best bang for your buck, find a resource that can consolidate both goals, such as a Virtual Employee.?VEs are an underutilized asset in the CAM space today . Most management companies seek out only certified, accredited professionals to add to their teams. However, that's time-consuming and costly, especially when the primary void that needs to be filled is predominantly administrative task work (like contingency planning and maintenance).?

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Anne Lackey's Company Offers a Unique Virtual Solution for Staffing Issues ?

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Hiring a VE for a fraction of the cost means the work still gets done, and your managers aren't overburdening themselves to get through a difficult situation. Virtual employees can step in when a staff member leaves abruptly by migrating existing meetings to other managers, handling the upkeep of natural disaster plans, and researching prospective clients in times of growth. VEs are perfect for any communication needs, like dealing with questions from homeowners during manager turnover, orchestrating meetings and reviews of disaster plans, and fielding calls and emails about service offerings and pricing.?

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Start Planning Today?

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Every management company should expect the unexpected by preparing for the unexpected. Hiring a virtual employee to assist with the heavy task load that comes with unanticipated change is a vital step toward actual preparedness.?Click here?to schedule your 30-minute consultation to see what other unplanned situations a VE can support your CAM management company through.?

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Cheers!?

Anne + The HireSmart Team?

Co-Founder – HireSmart Companies?

Direct: 678-389-9929?

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