Strong Flexibility and working culture, Weak for structure and frugality
Pros
- Solid mid-size REIT - Good internal communication - Swift strategic responses - Corporate office culture is overall positive - Strong staff whom are experts in discipline, make teams fairly well informed. - Staff are often trying to do the right thing for the end stakeholders - Strong emphasis on collaboration and growth - Constantly looking to improve process where required - Flexible and accomodating to Work-life balance.
Cons
- the nature of Retail REITS require that they make frugal sacrifices that diminish the overall product/service - Constant re-structuring, relabelling of roles and combining of different roles. - Frugal approach to promotion offers, staff development opportunities, and bonus payment - Promotion opportunities are often reactionary -Growth is often facilitated by A&D, but frugality has meant staff systems/tools are left outdated and the maintenance of assets are left wanting. - KPI structuring mean capturing different results in role tied to non-financial but important for doing the right thing are difficult - Reliant on third party property managers - Third Party property manager’s Corporate have slow response makes implementation of problem solving lag to end stakeholders - Third party manager turnover makes working relationships difficult to build and often strained - Turnover of employees - Divide exists between Operations side of the business and the Finance/Admin side of business. - Process and systems are always playing catch up to implementation of growth and strategic pivots
