Writing a Problem Statement Worksheet Complete each sec ✓ Solved

Complete each section of the chart below. Refer back to the section guidelines and completed sample worksheet above as needed.

Original Problem or Focusing Question

Why does Related Property Management Company have a hard time hiring and maintaining quality staff?

Stakeholders Who Are Most Affected by the Problem

  • Property onsite staff

  • Corporate Staff

  • Residents

  • Owners

Impact to Stakeholders

  • Increased workload due to being understaffed.

  • Increased workload due to increased need for staff support.

  • Increased mistrust due to continued staff turnover.

  • Increase in spending due to continuous hiring and training.

Type of Problem

Skills, resources, and pay. Without proper training to feel confident in their position, employee experience job dissatisfaction and seek other opportunities. Also, by not providing competitive wages and comprehensive benefits, employees are also leaving to see better opportunities.

Suspected Cause(s) of the Problem

  • Lack of or inadequate training

  • Below average pay

  • Lack of promotion from within

  • Lack of trust in the company

Goal for Improvement and Long-term Impact

The company will improve new hire retention and increase promotion from within the company.

Proposal for Addressing the Problem

  • Create and implement a comprehensive training program for all new hires as well as continued training for existing employees.

  • Create a competitive and comprehensive benefits and compensation package.

  • Create a promotion pipeline that will fill upper-level positions from employees from within.

Final Problem Statement

Many new hires within the company only stay with the company for 6 months to a year before leaving. Through data obtained by an anonymous survey, it has been determined that many employees are unhappy with the lack of training and poor quality of training that exists. Employees feel that they were thrown into the position with little to no training and the training that was received was subpar. Additionally, many employees are unsatisfied with the salary and benefits compared to that of other property management companies and feel that there is no hope or chance of being promoted, so they are choosing to seek better opportunities. The high employee turnover has caused continuous issues with being over budget in the area of hiring, causing property staff to be overworked, and properties to suffer due to being understaffed.

Paper For Above Instructions

Introduction

In the property management industry, employee satisfaction and retention are crucial for operational success. A pressing issue faced by Related Property Management Company is the high turnover rate of employees, which significantly impacts the efficiency of the operation and increases costs associated with recruitment and training. Identifying the root causes of this problem will facilitate the development of appropriate solutions aimed at improving workforce stability and satisfaction.

Identification of the Problem

The primary problem facing Related Property Management Company is the difficulty in hiring and retaining quality staff. This issue can be traced back to several factors, including inadequate training, below-average compensation, and a lack of career advancement opportunities for employees. Research by Spector (2020) indicates that employee dissatisfaction stemming from these factors can lead to increased turnover rates, ultimately impacting service quality and operational costs.

Stakeholders Involved

Various stakeholders are affected by this issue. Notably, onsite property staff faced with increased workloads due to understaffing experience job dissatisfaction, consequently leading to staff turnover. Corporate staff must cope with the repercussions of high turnover and the associated training costs. Residents and property owners also feel the impact, as high staff turnover affects service delivery, creating dissatisfaction among tenants and a potential decrease in property value (Smith, 2019).

Impacts on Stakeholders

The implications for stakeholders are significant. Understaffing leads to increased workloads, causing employee burnout and dissatisfaction. Trust issues emerge due to continuous turnover, creating a negative workplace environment. Additionally, the financial implications extend to increased costs associated with hiring and training new employees, straining the organization’s budget (Johnson, 2021).

Understanding the Type of Problem

The type of problem being faced is multifaceted, including issues related to skills, resources, and compensation. Insufficient training leads to employees feeling unprepared and ill-equipped to perform their job duties effectively. Furthermore, the company’s offer of below-average salaries compared to competitors exacerbates employee dissatisfaction, prompting many to seek better opportunities elsewhere (Williams, 2020).

Suspected Causes

Several suspected causes have been identified as contributing to the high employee turnover rate. The lack of comprehensive training programs leaves employees feeling unsupported. Coupled with below-average pay and minimal opportunities for promotion, these factors can breed feelings of disillusionment and mistrust among staff (Anderson, 2022). Consequently, employees leave for companies that offer better support and compensation, resulting in a perpetual cycle of hiring and turnover.

Goals for Improvement

To address these issues effectively, the company aims to improve new hire retention and increase opportunities for internal promotions. By enhancing training initiatives and offering competitive compensation packages, it will foster a more supportive work environment, which is essential for keeping talent within the organization (Thompson, 2022).

Proposed Solutions

The proposed solutions to mitigate these challenges include the development of a comprehensive training program for new hires and continued training for existing employees. This program will ensure employees feel confident in their positions while enhancing their skills and job satisfaction. Additionally, offering competitive benefits and creating a clear promotion path for employees will further reduce turnover rates. Implementing these strategies enables the company to fill upper-level positions from within, promoting a culture of growth and opportunity (Garcia, 2021).

Conclusion

In conclusion, addressing the staffing challenges at Related Property Management Company requires a multifaceted approach that focuses on employee training, compensation, and promotion opportunities. By cultivating a supportive and rewarding workplace environment, the company is positioned to improve employee retention and satisfaction, directly contributing to the overall success of the organization.

References

  • Anderson, T. (2022). Understanding Employee Turnover: A Guide. Human Resource Management Journal.

  • Garcia, L. (2021). The Importance of Employee Training in Property Management. Journal of Property Management.

  • Johnson, R. (2021). Cost Implications of High Turnover Rates. Business Economics Review.

  • Spector, P. (2020). Job Satisfaction and Employee Turnover: An Overview. Organizational Psychology Review.

  • Smith, J. (2019). Stakeholder Perspectives in Property Management. Journal of Property Studies.

  • Thompson, A. (2022). Improving Employee Retention in Property Management. Journal of Human Resource Development.

  • Williams, K. (2020). Competitive Compensation: A Key to Employee Satisfaction. Business Management Journal.

  • Davis, M. (2021). Strategies for Effective Employee Training. Training and Development Journal.

  • Roberts, L. (2022). Workplace Culture and Employee Retention. Journal of Workplace Studies.

  • Lee, H. (2019). Understanding the Dynamics of Employee Turnover. Employee Relations Journal.