How To Build A Mentoring Program For Your Property Management Company! ©
by Ernest F. Oriente, The Coach

What do AT&T, General Motors, DuPont and Federal Express all have in common? They are all using mentoring programs to develop career enhancing skills and to leverage the knowledge and experience of their senior executives. In the property management profession, leading companies are using mentoring programs to develop future leaders and to retain Superstars. This article will cover the important steps for creating a mentoring program as people and their continued development are your greatest assets.

Understanding why mentoring programs work: Mentoring programs will support the organizational mission of your property management team and will make a strong statement about the values within your company. In addition, a mentoring program will help to rejuvenate long term employees as they see and watch the growth of their mentees. Since 1992 DuPont has created mentoring relationships for 6,000 of the company's 60,000 employees. Based on their experience, listed below are some of the reasons why mentoring programs work:

  • Mentoring programs can help attract and retain SuperStars.
  • Mentoring provides targeted, individualized training and coaching.
  • Mentoring makes mentees responsible for their own development.
  • Mentoring provides timely information for a mentee.
  • Mentoring can help with diversity efforts.
  • Mentoring is time-efficient.
  • Mentoring will set your company apart from your competitors.
  • Mentoring helps develop future leaders.
  • Mentoring allows creative ideas to flourish.

Tip from The Coach: As a property management executive, creating a mentoring program for your company will have both tangible and intangible benefits. In addition, launching a new program of any kind takes confidence and courage. Ready to take the next step?

Finding mentors within your company: Finding great mentors within your property management company is generally done by an internal identification process. In addition, a mentor must be a SuperStar, as measured by the goals, performance and expectations within your company. Once a list of potential mentors has been determined, written correspondence should be sent to each individual clearly communicating that you are looking for SuperStars within your company that are willing to guide/coach individuals wanting to be mentored. To build and maintain a great mentoring program, mentors must have the following skills and behavior:

  • A mentor must have great listening skills.
  • A mentor must have the ability to ask pointed/ appropriate questions.
  • A mentor must be willing to provide guidance and coaching.
  • A mentor must be able to invest one meeting per month, for at least one year per mentee.
  • A mentor must be willing to allow their mentees to observe them conducting business.
  • A mentor must share your company goals and vision.
  • A mentor must be prepared to be blunt with their observations, if necessary.
  • A mentor must learn 45 specific coaching skills to be effective.
  • A mentor must will be able to guide their mentees on career development questions.
  • A mentor must be willing to let their actions speak louder than their words, and they must model world-class leadership.

Tip from The Coach: The relationship between a mentor and a mentee must be dynamic and built on trust. A mentor must be able to combine the behavior of a role model, the skills of a teacher, the wisdom of an advisor, the care of a coach and the inspiration of a leader. As a twist on traditional mentoring programs, some of our property management clients have created a MentorUp program to help senior executives learn more about technology from the younger Super Stars within their company.

Want to hear more about mentoring programs or to learn about the 45 specific coaching skills needed as a mentor? Fax a note on your letterhead to 435-615-8670 or E-mail to ernest@powerhour.com and The Coach will fax/E-mail back to you a free invitation to be a participant on a TeleForum conference call.

Author’s note: Ernest F. Oriente, The Coach, founder of PowerHour®, a professional business coaching service delivering customized training, by telephone, in management, marketing and sales for property management companies, apartment locator/corporate housing services and publishing companies worldwide. We specialize in global distance learning by telephone, using our state-of-the-art conference call system for interactive and dynamic TeleForums. Twice-monthly TeleForums link 10 -100 executives/ professionals/ individuals who are geographically dispersed, in a time efficient and profitable format. PowerHour® is based in ski-town—Park City, Utah, at 435-615-8486, by E-mail ernest@powerhour.com or visit our TeleForum website: www.coachingsuccess.com. To receive a FREE property management success newsletter send an E-mail to: ernest@powerhour.com. Recent PowerHour® articles have appeared in 1500+ business/trade publications and websites.

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