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Perks vs. Paychecks: What Incentives Does Your Self-Storage Company Offer to Retain the Best Managers?

When it comes to compensating staff, self-storage operators need to consider not just the paycheck, but also any perks they could provide. Here are some ideas on how to balance these two elements and retain the best managers.

Amy Campbell

March 21, 2013

3 Min Read
Perks vs. Paychecks: What Incentives Does Your Self-Storage Company Offer to Retain the Best Managers?

By Amy Campbell

There are very few of us who work simply because we  love it. While there are plenty of altruistic people who dont need the weekly paycheck to get byor have learned to live without itmost of us are not in that group. This isnt to say we dont love our jobs, but getting paid is a great motivator to get up in the morning. And usually its not just the dollars that motivate us to do our jobs every day. Many of us also enjoy great perks.

In fact, I recently came across an interesting article on MSN Carreers about how more companies are recognizing how job perks can help them retain top talent. A recent CareerBuilder survey asked nearly 4,000 full-time employees which job factors were most important in making them feel satisfied in their jobs. Some of the responses included a flexible schedule, ability to work from home, being able to make a difference and challenging work.

The survey also asked respondents to identify one perk that would make their workplace more satisfying. The top answers were half-day Fridays, an onsite fitness center, casual dress code and daily catered lunches.

While few self-storage operators will likely add a gym or provide their staff lunch every day, there are a number of perks owners can offer their managers. Perhaps half-day Fridays are out, but a quarterly half day beyond the standard paid-time off might be doable. You could call it My Manager Is Awesome Half Day.

Or perhaps you have a manager whos really made a difference at your facility. Maybe he improved occupancy over a three-month span, stepped up his marketing game, or oversaw a huge property-improvement project. Doesnt this deserve at least a gift certificate for a nice meal and a couple of movie passes?

While perks are great, we cannot forget that everyone needs to make a comfortable living. But determining a pay rate thats fair for the employees and ownership can be a challenge. Adding bonuses can murky the water even more. Read the article "A Self-Storage Owner's Guide to Manager Bonuses: Program Types and Consideratons," by Pamela Alton for guidance.

And if youre attending the Inside Self-Storage World Expo, April 2-5, in Las Vegas, be sure to catch the seminar "Manager-Compensation Programs in Self-Storage." Michael Rhoads of PFG Capital will talk about the factors that affect compensation, such as the facilitys size and the managers skill level, key performance measures, and how to set goals for employees.

There is no one-size-fits all when it comes to employee paychecks or job perks. Each property and every manager will have different needs and desires. In the end, your goal is to create a great work environment in which your staff is challenged, yet not overburdened, adequately compensatedwith maybe a bonus here and thereand always, 100 percent appreciated. Everything else this is just icing on the cake.   

Share your thoughts on self-storage manager paychecks and incentives by posting a comment below, or visit Self-Storage Talk, the industry's biggest online community.

About the Author(s)

Amy Campbell

Editor, Inside Self Storage

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