RiverRock Real Estate Group, Inc., AMO / spotlight
their desk. We have been recognized as “Best Company
to Work For” by Orange County Business Journal for the
last four years.
Responsible: RiverRock is responsible in a global
sense. We are committed to volunteering in each community where we work. We are involved with Habitat for
Humanity, Food Banks, beach cleanup days, etc. Rock-Stars work together at these volunteer events, which furthers team building and community involvement.
Personal: RiverRock’s leadership is paramount to creating a personal environment. We set the tone of by being extremely approachable. Everyone has access to top
management to ask questions and share new ideas or
concerns. Leadership is very sensitive to employee suggestions and concerns and considers them when making company decisions. In fact, many company changes
have resulted from employee suggestions. A key difference at RiverRock from our competitors is the Principals of the Firm are engaged daily at the properties with
the property level staff.
RiverRock is successful in retaining employees and
clients because of its relationships. No employee or client is “just a number.”
Describe one of the most challenging situations
you’ve been in as a company, and how you’ve grown
from that point. Where there any significant changes implemented as a result? How do you continually
work to improve your business plan?
As a service provider, one of our largest challenges is delivering the service level our clients expect and customers deserve while meeting the financial objectives of the
investment. We focus on staffing to ensure that we have
the right talent base to meet the needs of a specific asset or portfolio. Often assets are underwritten so tightly
that staffing is minimized, which impacts the service delivery and overall quality. We thoroughly analyze each
assignment and take a multitude of factors into account
when conducting our diligence. We work with clients
to understand its requirements, adapt our approach or
alter delivery requirements so that we can meet the financial objectives of underwriting while maintaining
the platform that we have become known for.
We constantly evaluate our staffing models, corporate
support and technology in an effort to maximize our
internal resources while continuing to drive value and
performance. At times, we’ve been forced to make the
difficult decision of passing on an opportunity, as the
potential impact was not favorable for either party. In
the long run, understanding when to make a concession
and when to walk away may be the best decision for all.
If nothing else, it earns the respect of our clients.
RiverRock has 12 offices in Calif. and Ariz. and
numerous RiverRock Alliance Group relationships
that span the Northern, Central and Southern regions of the State. How do you ensure consistency and
quality management in each of your offices? Are there
differences or challenges in aligning your values with
geographical or cultural differences in the U.S.?
Hiring is key. We look for individuals who work well
within our system: True team players, who don’t use
the phrase, “That’s not in my job description.” We listen
to our people and incorporate their thoughts, suggestions and ideas. We always like to say that individually
we haven’t done everything, but collectively there isn’t
anything our group has not handled. We operate focus
groups that drive ideas and change, and conduct quarterly regional leadership meetings where we review our
opportunities, successes and setbacks. The results of
these meetings are shared with the local team in onsite
follow-up meetings and company conference calls.
We have extensive formalized programs with guidelines and tools for our management professionals to
deliver the highest standards in operation performance
and efficiencies. Each new hire participates in an orientation program which provides them with a thorough
understanding of our policies and procedures. In order
to ensure that our best practices are maintained and followed, an annual internal audit or quality assurance is
performed with each manager at each property we manage. As our policies are standard procedure throughout
each office, our expectations are understood and honored and we have not come across any challenges in
aligning those values.
Our goal is to be as transparent as possible and that
has earned us the loyalty and one of the lowest levels of
turnover in the industry.