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In the evolving landscape of strata management, cultivating a culture of empowerment and resilience is essential. As the number of strata-titled properties in WA continues to grow, so too does the demand for skilled strata management professionals. This surge presents both an opportunity and a challenge for the industry, making it critical to create an environment that fosters innovation, teamwork, and a positive workplace culture.
The need:
THE HIGH-STRESS REALITY OF STRATA MANAGEMENT
Strata management is inherently demanding. Strata managers juggle a multitude of tasks daily, from interpreting complex strata laws and managing financial reports to mitigating conflicts between owners and chairing meetings. Their role extends beyond office hours and often involves dealing with emotionally charged situations. This stress can lead to burnout and high turnover rates, affecting job satisfaction and performance.
THE VICIOUS CYCLE OF EMPLOYEE AND CUSTOMER EXPERIENCE
A critical issue in strata management is the direct impact of employee well-being on customer experience. When strata managers are overwhelmed, their ability to provide high-quality service diminishes, leading to frustrated clients and more negative interactions. This feedback loop exacerbates stress on managers, further affecting their performance and job satisfaction. To break this cycle, improving the work environment and support systems for strata managers is essential.
THE POWER OF CULTURE IN 2024
In 2024, the importance of culture in driving organizational success is more pronounced than ever. The adage “culture eats strategy for breakfast,” coined by management expert Peter Drucker, underscores that a strong organizational culture is fundamental to achieving strategic goals. In high-stress environments like strata management, a robust and positive culture acts as a stabilizing force, empowering employees to navigate challenges and innovate solutions.
What we’re doing:
TEAMING APPROACH
At ESM Strata, we have embraced a modern organizational structure that emphasizes teamwork. By integrating our staff into specialised teams and adding further voluntary teams—such as Sustainability, Technology, Knowledgebase, Specialist, and Environmental teams—everyone is connected, supported and encouraged to pursue innovation outside of their day to day role.
ROBUST CULTURAL FRAMEWORK
A robust cultural framework is the cornerstone of our strategy at ESM Strata. Our culture is built on shared values and a clear mission, essential for aligning our team members’ efforts and fostering a sense of belonging. Regular feedback loops strengthen internal relationships and ensure every team member feels valued and heard. This supportive environment is crucial for maintaining high morale, encouraging innovative thinking, and building resilience.
CONTINUOUS TRAINING AND DEVELOPMENT
Investing in training and development is another critical component that we commit to as a company, but that each team member commits to as well. Each team member at ESM Strata has a dedicated training budget to support their professional and personal growth that is prioritised by the leadership team, ensuring we remain at the forefront of industry knowledge and best practices.
FEEDBACK AND ADAPTABILITY
We place a high value on feedback from our team members. Regular surveys and check-ins on professional fit, personal fit, cultural fit, training, recognition, mentorship, and financial fit provide us with insights into their experiences and aspirations. This feedback informs our strategies and helps us adapt to meet their needs effectively. By being responsive to their feedback, we demonstrate our commitment to their well-being and professional development. This adaptability is key to maintaining a positive culture.
The future of strata management lies in our ability to create environments where professionals feel empowered, valued, and inspired to innovate. At ESM Strata, we are committed to this vision and are confident that it will lead to a more sustainable and successful industry for all.