News and Resources

Relationship Management Best Practices

By: Linda J. Schiff, CMCA, CTP

Corporate relationships are important to both sides – they are mutually beneficial.  So why are many relationships strained?  What are all the complaints about?  What are you doing to not only keep your relationships, but also deepen and expand them? 

Communication Styles
When there is a problem, who are you complaining to and is it the right person?  If the problem is resolved well, you need to tell him that too.  Make sure communication reaches the troops, not just the leader.  Relationships exist at many levels on both sides. 

Watch Emails
Don’t just “reply to all” to 20 people and lob it out there.  It is not only inappropriate and unprofessional but may also work to your detriment in the future as a record of the communication not only permanently exists but can continue to be shared and forwarded to many, many more parties.  Many times email is not the best means of communication.  The telephone still works well for 80% of our communication needs and yet it is gathering dust in some companies.  Other times the only way to communicate is face to face – it is the best for complicated and important issues.

Create Win-Wins
This usually means a compromise.  All or nothing does not work in relationships.  Are you keeping score?  Is your client?  The relationship won’t last much longer if that is the case.

Mutual Trust
Relationships include sharing information and typically this information is important – it may even be confidential, proprietary or secure.  Do not under any circumstance, including when a relationship has ended, share inappropriate information.  It is not only unprofessional and unethical but also the best way to lose the relationship and your reputation forever. 

This includes the Request for Proposal (RFP) process.  If you share an idea of one competitor with another, the result will be fewer good ideas shared with you.  Consider your ultimate goal in the process and share it with the bidders – Is it the best price?  Then say so!  Is it the best ideas?  Then allow for flexibility in the proposal.  Is it because you have to do it each year for each vendor?  Then you are wasting both your time and the resources of your service providers.  Relationships are not changed annually.  The true value of relationships comes from people knowing people through different situations and over time.

Expectations
This is probably one of the most misunderstood areas in corporate relationships and yet one that is the easiest to resolve.  Sharing specific expectations up front and throughout the process is the road to successful relationships.  Too frequently people assume that “they should know that” or they expect perfection 24 hours a day, 7 days a week.  Communication is all about talking to each other and sharing information regarding expectations in the relationship.  If you’re not sure, pick up the phone or stop by and check in.  Long term, mutually beneficial relationships are built this way.

Linda J. Schiff, CMCA CTP is President of MANAGEMENT ADVANTAGE of Barrington Bank & Trust Company, N.A.  She is a recipient of the Condo Lifestyles Alliance Award and serves in various volunteer leadership positions in the industry, locally and nationally.

March 1, 2007