Bill Himmelstein, Founder, CEO & Managing Broker of Tenant Advisory Group, discusses how communication and trust are key to his team’s health, well-being, and satisfaction.
Q: What does well-being look like for your employees, and how does their well-being impact the organization?
A: At Tenant Advisory Group, we emphasize the importance of the physical, mental, and financial well-being of each of our team members. We strive to provide a supportive environment, from an open-ended time-off policy to allowing the hand-picking of assignments, to leadership opportunities. I believe that the policies we have in place help our team members maintain a balanced life and happiness at work. Their happiness and comfort make for greater productivity, employee retention, and a higher caliber of work and client satisfaction.
Q: What have you put in place to boost employee wellness and well-being? What were the results?
A: We promote employee well-being in a variety of ways. We have always allowed our team to work from home and dictate their schedule. Both throughout the workweek and also as far as when and for how long they take time off. Our team functions with mutual respect and understanding so there is always someone to support responsibilities and we never lag behind on client duties.
We always offer an open forum for discussion of not just personal issues but personal goals. Once I learn of these goals or issues, I strive to assist our team members with attaining these goals or resolving these issues.
We carry out occasional personality assessments so everyone understands the most effective ways to communicate and work with one another. More formally, we have annual reviews. These are not just about evaluating the team but also an opportunity for them to provide feedback. When a team member asks for additional resources such as specific real estate-related software, marketing, or assistance with finding or funding networking opportunities, we provide it to them.
We believe we are equitable about providing transactions for our team members to work on and providing generous commission splits, which we believe are better than any other firms. Furthermore, we have always tried to honor employees’ requests for a salary or commission restructure, both generally or for a one-off transaction.
We allow our team to evaluate whether they want each assignment or not. We do not force anyone to take on any work or roles if they aren’t interested in the opportunity. I believe the multitude of ways in which we run the business helps my team feel valued and impacts their overall wellness and well-being.
Q: As a busy leader, how do you practice self-care?
A: Through literature and discussions with other entrepreneurs, I’ve learned and established practices to streamline my work hours. I’ve learned to be as efficient as possible during the workdays so that I can have weekends and evenings with my family.
My wife and I have two young boys, and we make it a priority to spend quality time together, including family dinners when we are home. I prioritize my physical health by exercising every morning, and my mental health by seeking professional help on the occasions over the years when I’ve felt overwhelmed.
