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Feb 09
2009
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As we all know, it is difficult to read a headline or watch the news these days without hearing negative economic news. Between stock prices, job losses, and the shrinking economy, it is sometimes hard to find a silver lining. Facing an uncertain economy and in many areas uncertain market conditions, we need to recognize and understand the following:
1. People are scared. Whether it is your residents or your coworkers, everyone is facing challenging times and we all react differently when dealing with these challenges.
2. Competition is fierce. From job searches to apartment searches, everyone is looking for an edge over the competition. Remember that you should always show integrity and professionalism.
3. It is unknown when things are going to improve. You can read five different headlines and get conflicting information as to the degree of the challenges and when the recovery will occur. The unknown is difficult to understand and endure.
4. People need compassion. While I understand we all have rules and regulations and guidelines for our community and our company, you need to understand that many of your residents and employees are going through very difficult times and need understanding.
5. You can't rely on past success. In other words, if it worked in the past, that doesn't mean it will work now. You need to continually reinvent your property and yourself. You can't sit back and react - you need to be proactive. You need to anticipate and manage the future.
6. You need to be at the top of your game. Now is the time for you to work hard, have a great attitude, and to show your stuff. Performance expectations are getting tougher. You need to make sure that you are doing it faster and smarter than anyone else!
As we face this economic crisis, understand that everyone reacts differently to uncertainty. Be compassionate and understanding because you don't really know what someone else is going through. Take the time to listen and offer assistance - it will go a long way. One thing is certain right now - we are all in this situation together and we will all need to work together to get through it!
