Carter Malloy is the CEO and founder of AcreTraders, a real estate investing platform
that makes it easy to buy shares of farmland and earn passive income, starting
in just minutes online.
In this episode, Mike discusses the work environment dynamics with Carter,
reviewing corporate management and employee relationships. Carter reveals the
challenges he had to face while building up a potential work team and how he
approaches talent diversity, cultural differences, office transparency and open
communication in his company.
Carter believes in establishing a competitive work atmosphere, right from the hiring
process to the policy of letting employees go. Tune in to learn about the
different strategies for optimizing company profits while cultivating a healthy
work environment.
EPISODE 2 SUMMARY & HIGHLIGHTS
Can you talk about any one of your employees who you helped to achieve tremendous success?
4:20
It’s hard just to pick one employee because all forty of our employees are exceptionally skilled and capable.
Our newest employee, let’s call her Allegra, was selected for “the office manager” position for achieving tremendous growth in a really short period. We had a rigorous selection procedure, and Allegra was the perfect choice for the post. We always make it a priority to have brilliant people, regardless of their position because we want them to grow.
What is the most recent challenge you faced when it comes to developing a potential team?
6:54
In our company, we don’t believe in putting people in roles. We want them to build the company. This mindset is the biggest challenge to maintain.
While selecting candidates, we do not care what their role in the company will be; we want them to grow while helping them along the entire journey. Also, since we are huge believers in talent diversity, we only hire phenomenal people who can significantly help the company. That can sometimes be a downside.
Another constraint is time. The hiringprocess often takes longer. Moreover, we have to let people go sometimes.
What are some of the cultural values that go into this mindset?
12:49
We believe in talent, diversity, freedom and responsibility. We also believe in proper communication in the company. We go over things multiple times before we conclude.
In corporate strategy, communication is the key. By being open with one another, you incorporate transparency. Your employees tend to have great ideas. They could also receive great feedback and criticism. Frequent communication also entails one-on-one meetings between the manager and the employees. We also do not allow talking behind others' backs. If you have something to say, we encourage you to say it upfront. This helps build trust and strengthens relationships.
What are some of the tips that an HR director can incorporate into his role?
18:47
Contrary to popular belief, an HR director has a considerable influence on the company. The CEO trusts the HR department to set the cultural tone. They are to challenge the CEO and work to develop policies and approaches that can benefit the company.
Could you talk to us a bit more about the concept of company density?
20:26
Organizationally, we are very complex with multiple products, initiatives, cross-functional teams and shared resources. We try to have exceptional employees in our company. Once an average employee comes in, they set the bar low for all the other employees. It leads to a poorer quality of work from the employees. People are naturally competitive. They want to grow. So if you surround them with other great people, they end up being more productive. That is the idea of talent density - having...
