Magazine article Journal of Property Management

Front Office

Magazine article Journal of Property Management

Front Office

Article excerpt

JUST REWARDS

As the industry struggles to attract and retain quality talent, employee reward systems are becoming more commonplace and more creative. Software developer BeyondWork Inc., aims at helping companies retain top talent. As described in Informationweek. com, the company has launched GifrPass Rewards and Recognition software, a hosted, Web-based application that lets managers reward employees for good work. Employees receive awards in the form of noncash digital currency, redeemable for a selection of items at participating online retailers, including Amazon. com, Gap.com and the Sharper Image. Wells Fargo & Co. and Charles Schwab Co. are among the first customers of the software, which also budgets, manages and tracks the performance incentives.

Virtual Teams

An increasing number of companies are finding that, for some of its employees, working from home just makes sense. Employees who are entrepreneurial, independent, dependable and creative by nature often work best as virtual employees. While offering both employees and management a number of benefits, managing virtual employees also has its own unique set of challenges. Here are a few tips to consider when managing virtual teams:

* Communicate with your virtual employees regularly.

* Reinforce the work virtual team members are doing. Be sure to send an e-mail for a job well done.

* Encourage employees with an idea to send an "all-team" email.

* Make use of technology tools that will aid communication between team members. For example, instant messaging tools such as ICQ and Ureach.com, a free voice-maillfhx/email service to receive faxes. Solutions such as eGroups.com, a free Web bulletin-board service can archive all of your conversations.

Tech Talk

2000 was a rollercoaster year filled with technology start-ups and slowdowns, the emergence of Broadband, Web-based and wireless applications, and a renewed commitment to create a customer economy. What lies ahead in 2001? Earnst & Young's Kenneth Leventhal Real Estate Group offered these high-tech predictions:

Working the Internet. While admittedly slow to adopt the Internet as a compelling business tool, there is a growing realization in the real estate industry that firms will have to be Web-enabled in order to compete. "It's now where we are with the Internet and technology," says E&Y's Dale Anne Reiss, "as much as how we are working the Internet into the fabric of change and how we apply technologies to everyday problems and opportunities.

* Retail meets F-tail. Enterprise Broadcasting Corporation is set to launch a "network" of luxurious theaters in high-end malls featuring 20-foot high definition screens with custom sound systems, interactive panels at the seats, and three-dimensional visual presentations that "tell stories" about products and services you won't usually find in the mall. E&Y's Robert Ripp predicts that as a result of this "experiential selling", stores will shrink, new formats will evolve, developments will become more complex, power centers/Class B and C mall properties will be hit hard and real estate services to retail will be enhanced."

Computer Crash Crazy

What's more stressful than experiencing a computer crash? Apparently, quite a bit. According to a recent study by the British e-business consuIting firm ICL, computer crashes are driving us crazy. The research suggests that tech problems have considerable influence on our emotional well-being. …

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