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In today’s fast-paced digital landscape, businesses increasingly rely on technology to stay competitive and efficient. With the rising complexity of IT operations, integrating development and operations (DevOps) practices has become essential for smooth and agile software delivery. However, deciding when and how to add a DevOps Engineer to your IT team can be a critical and strategic decision for any organization. In this article we will explore the signs that indicate a business is ready to embrace DevOps and the advantages of utilizing a Managed Solutions model to bring in specialized IT contractors. Signs You’re Ready for a DevOps Engineer Introducing DevOps into your organization can be a game-changer, but it’s vital to ensure the timing is right. Here are some key signs that suggest your business is ready to welcome a DevOps Engineer: Rapid Growth and Scaling: If your business is experiencing significant growth and expanding its digital infrastructure, a DevOps Engineer can help maintain stability and scalability. Continuous Integration and Continuous Delivery (CI/CD) Pipeline Needs Improvement: Struggling with manual software deployment, testing, and integration processes? A DevOps Engineer can automate these tasks, reducing errors and accelerating the software delivery lifecycle. Collaboration Challenges Between Development and Operations Teams: If there is friction between your development and operations teams, a DevOps Engineer can bridge the gap, fostering a collaborative and cohesive work environment. Frequent Downtime and Slow Recovery: Persistent issues with downtime and slow recovery can hurt your business’s productivity and reputation. A DevOps Engineer can implement robust monitoring and automated recovery solutions. Security and Compliance Concerns: DevOps Engineers are well-versed in security best practices and can implement strategies to safeguard your applications and data, meeting regulatory compliance requirements. The Managed Solutions Model for DevOps Hiring Once you’ve recognized the need for a DevOps Engineer, you might wonder whether to hire one directly or explore alternative solutions like Managed Solutions. Here’s why the Managed Solutions model can be advantageous: Expertise on Demand: BGSF Managed Solutions offer access to a pool of skilled IT contractors, including DevOps Engineers, allowing you to leverage expertise as needed without the long-term commitment of hiring a full-time employee. Flexibility and Scalability: Business needs are dynamic, and the workload might vary over time. A managed solutions model allows you to scale up or down based on project requirements, providing the necessary flexibility and cost-effectiveness. Faster Onboarding and Reduced Hiring Hassles: Engaging IT contractors through BGSF’s Managed Solutions team can expedite the onboarding process since these professionals are already vetted and ready to tackle your specific needs. Focus on Core Competencies: Opting for Managed Solutions lets your internal IT team focus on their core responsibilities while the specialized IT contractors handle the DevOps aspects, leading to improved productivity. Risk Mitigation: In case an IT contractor doesn’t meet your expectations, our managed solutions teams can quickly replace them with another qualified professional, mitigating hiring risks. As businesses navigate the complexities of modern IT operations, the role of a DevOps Engineer becomes increasingly vital. Recognizing the signs that indicate the need for DevOps integration and choosing the right hiring model are crucial steps toward optimizing your IT team’s efficiency and software delivery processes. While adding a DevOps Engineer can significantly enhance your organization’s performance, utilizing BGSF Managed Solutions can offer the flexibility, scalability, and expertise needed to adapt to the ever-changing technology landscape. By embracing this approach, businesses can take a confident step toward ensuring seamless, secure, and efficient software development and delivery. Remember, every organization’s journey towards DevOps integration is unique, so understanding your specific requirements and aligning them with the right hiring model will help you make the most of your DevOps investment. Don’t let outdated IT processes hold you back. Visit BGSF’s Managed Solutions team today to learn more about how our experts can optimize your software delivery lifecycle, streamline collaboration, enhance security, and ensure compliance with industry standards. Contact Us Today

Artificial intelligence (AI) has become one of the most significant technological innovations in recent years, and its impact on the workforce is already being felt. While some people believe that AI will eventually replace humans in many jobs, others argue that it will create new opportunities for humans to work alongside machines. This post will focus on the influence that AI will have on the workforce, with a particular focus on enterprise customers. The Current State of AI in the Workforce AI is already being used in many industries, including healthcare, finance, retail, and manufacturing. In healthcare, for example, AI is being used to analyze medical images and help doctors make more accurate diagnoses. In finance, AI is being used to detect fraud and identify patterns in financial data. In retail, AI is being used to personalize shopping experiences for customers and to optimize supply chain management. In manufacturing, AI is being used to automate production processes and improve quality control. Despite these examples of AI being used successfully in various industries, there is still some resistance to its adoption. Many people fear that AI will replace human workers and lead to widespread job losses. While it is true that some jobs may become obsolete due to automation, many new opportunities will arise as a result of AI. The Future of AI in the Workforce As AI continues to evolve, it will become more integrated into the workforce, and enterprise customers will play a significant role in driving this integration. These customers will demand that their vendors and service providers incorporate AI into their products and services, to stay competitive and meet customer needs. This will create opportunities for individuals who have the skills and knowledge to work with AI systems, including data scientists, engineers, and developers. One of the most significant benefits of AI for the workforce is the ability to automate repetitive and tedious tasks, freeing up time for humans to focus on more creative and complex work. For example, AI can be used to automate data entry, leaving humans to analyze the data and make decisions based on the insights gained from that analysis. In addition, AI can help humans make better decisions by providing them with more accurate and relevant information, which can lead to improved productivity and efficiency. Another potential benefit of AI in the workforce is the ability to personalize products and services for customers. AI can analyze customer data and provide insights that can be used to create personalized experiences that meet each customer’s unique needs. This can help businesses build stronger relationships with their customers and increase customer loyalty. Challenges and Opportunities While there are many potential benefits to AI in the workforce, there are also challenges that need to be addressed. One of the most significant challenges is the need for individuals to develop new skills and knowledge to work with AI systems effectively. This includes not only technical skills but also soft skills such as communication, collaboration, and critical thinking. Another challenge is the need to ensure that AI is used ethically and responsibly. AI has the potential to be biased and discriminatory, which can lead to negative outcomes for individuals and society as a whole. Therefore, it is essential to develop ethical frameworks and guidelines for the use of AI in the workforce. Despite these challenges, AI also creates new opportunities for individuals to learn and grow in their careers. By developing new skills and knowledge, individuals can position themselves as valuable assets to their employers and take on new roles and responsibilities. This can lead to increased job satisfaction and higher salaries. Conclusion In conclusion, AI is already reshaping the workforce, and its impact will continue to expand. Embracing AI and developing skills to properly utilize it enables individuals to harness its benefits and thrive in the new world of work. With automation, better decision-making, personalization, and increased job satisfaction, individuals can contribute to organizational gains and stay competitive in a rapidly evolving landscape. Click here to learn more about our IT consulting services and how we can support your future AI endeavors, or contact us today!

Technology has become an indispensable tool in almost every industry, and commercial real estate is no exception. The convergence of Artificial Intelligence (AI) and Big Data is transforming the way investors approach and execute their strategies in the commercial real estate sector. This blog delves into how AI and Big Data are reshaping the future of commercial real estate investments. The Power of Big Data in Real Estate Big Data has revolutionized the way information is collected, analyzed, and utilized in various sectors, including Real Estate. Therefore, the volume and variety of data available, including market trends, property performance metrics, demographics, and economic indicators, have empowered investors to make more informed decisions. Market Insights: Big Data allows investors to gain comprehensive insights into market trends, enabling them to identify emerging opportunities and predict shifts in demand and supply. By analyzing historical data and current market conditions, investors can better understand the potential risks and rewards associated with specific investments. Risk Mitigation: Traditional investment decisions often involve a degree of uncertainty. Big Data helps mitigate risks by offering real-time data on market conditions, tenant occupancy rates, and property performance. This information assists investors in making more informed decisions and reducing the element of surprise. Location Analysis: One of the most critical factors in real estate is location. Big Data tools can provide investors with granular information about neighborhoods, nearby amenities, transportation options, and demographic trends. This level of detail enables investors to identify optimal locations for their investments. Artificial Intelligence in Commercial Real Estate AI takes the insights provided by Big Data a step further by utilizing machine learning algorithms and predictive analytics to extract meaningful patterns and trends. Here’s how AI is transforming commercial real estate investments: Predictive Analytics: AI algorithms analyze historical data to predict future market trends and property performance. This predictive capability assists investors in making strategic decisions about when to buy, sell, or hold properties, optimizing their returns. Portfolio Management: AI-driven tools enable investors to manage large portfolios efficiently. These tools can identify underperforming assets, recommend strategies for improvement, and allocate resources for maximum returns. Due Diligence: AI streamlines the due diligence process by automating property valuations, legal assessments, and title searches. This reduces the time and resources required for thorough research, making investment processes more efficient. Tenant Experience: AI-powered technologies enhance tenant experiences by optimizing building operations, improving energy efficiency, and enabling personalized services. Satisfied tenants are more likely to renew leases, resulting in consistent rental income for investors. The Synergy of AI and Big Data The true power of AI and Big Data lies in their synergy. When combined, these technologies offer investors a comprehensive and dynamic view of the commercial real estate landscape. Smart Decision-Making: The integration of AI and Big Data enables investors to make data-driven decisions with a high degree of accuracy. These decisions are based on a deeper understanding of market dynamics and property performance. Agility and Adaptability: Commercial real estate markets are subject to rapid changes. AI and Big Data provide investors with the agility to adapt to evolving conditions by identifying opportunities and risks in real-time. Improved Returns: Ultimately, the application of AI and Big Data in commercial real estate investments leads to improved returns. Investors can optimize their portfolios, reduce risks, and capitalize on emerging trends, resulting in higher profitability. The future of commercial real estate investments is undeniably intertwined with the capabilities of AI and Big Data. The dynamic insights provided by these technologies empower investors to make informed decisions, mitigate risks, and maximize returns. As the real estate industry continues to evolve, embracing AI and harnessing the potential of Big Data will be key to staying competitive in an increasingly data-driven landscape. Looking for staff support to help service your current properties? Reach out to find out how BGSF can provide the right resources for you. Contact us now!

According to Staffing Industry Analysts, temporary jobs have fallen for the sixth consecutive month in July, shedding 22,100 jobs based on data from the U.S. Bureau of Labor Statistics. July 29th week saw temp staffing hours drop 9% according to the Bullhorn Staffing Indicator Report.  As we reported in our July jobs report, temporary jobs have continued trending down, decreasing by 205,000 since their peak in March 2022. This prompted us to ask our 204K+ followers on LinkedIn the question, “Are you more likely to accept a temporary or contract job or a permanent/full-time job and why?” Poll options included the following: A temp job to build my resume A perm job for more stability Depends on my lifestyle/goals Share your ideas in the comments We received a total of 1128 votes with the results listed below: A perm job for more stability received the most votes at 69%, with one follower stating that choosing between a permanent job and temporary work was a “matter of reducing risk and having something to survive through the unknown.”  According to Smartest Dollar, temporary workers accounted for 1.93% of the U.S. workforce as of April 2023. Depends on my lifestyle/goals came in second with 24% of votes. One follower stated she was “afraid of contract work but in the end, it can be more freeing and financially more exciting.” A temp job to build my resume came in third with 6% of votes. One of our followers stated that he had interim contracts for years and enjoyed the “freedom, flexibility, and variety.” Temporary employment works well for individuals who thrive on change and can offer a better work/life balance. Employees are not tied to one company, have opportunities to build their skill sets, and can explore the type of work environment they want to be in. Salary expectations for contract versus permanent roles vary based on the needs of the candidate, location, and other benefits, and must be considered. As one follower stated, he was open to both depending on the pay rate and additional benefits offered. Let BGSF help you reach your career goals, whether you are looking for a permanent role or a contract role to gain new skills and build your resume. We also provide workforce solutions to assist with your talent search.  Search our jobs or contact us!

The latest July jobs report indicates a mixed bag of data for the US economy. The country added 187,000 new jobs last month, showing a slowdown in job gains compared to previous months. However, the unemployment rate has dropped to an impressive 3.5%, slightly surpassing expectations and marking one of the lowest levels since late 1969. The report also reveals positive news for workers, with wages continuing to rise, demonstrating their leverage in the labor market. While the number of new jobs created in July is the lowest since December 2020, the average job gains over the last year remain relatively strong at 312,000 per month. This indicates that despite the slight dip, the job market remains robust, with steady improvements. One notable highlight from the July report is the wage growth, which surpassed economists' expectations. Wages rose by 0.4% on a monthly basis and an impressive 4.4% over the last year. This steady growth in wages reflects the resilience of the job market and the increasing bargaining power of workers. The government sector experienced a boost in employment with 15,000 new jobs created last month, contributing to the overall positive figures in the report. However, it is important to note that financial activities, which had been slow in terms of job growth earlier this year, added 19,000 jobs in July; the largest gains in real estate and rental and leasing, offsetting job losses in commercial banking "As we look ahead, the outlook for job growth with local and state governments remains highly promising. We believe that these sectors will play a pivotal role in driving economic recovery and creating opportunities for job seekers across the nation. Additionally, the healthcare industry's remarkable addition of 63,000 jobs has been an encouraging sign of progress. At BGSF's Professional Division, we are committed to making a positive impact in multiple sectors, including our work in cloud migration within the healthcare industry.." said Eric Peters, President of BGSF's Professional Division. "By supporting healthcare organizations in their digital transformation, we are contributing to improved efficiency and enhanced patient care. Together, with our partners like HGAC Buy placing individual with state and local governments, we are dedicated to building a brighter future for our workforce and the communities we serve.." Despite the overall positive trends, the private sector experienced a slight decline in job growth compared to previous months, with 324,000 new jobs added in July. The annual pay growth, while still substantial at 6.2%, showed a slowdown compared to previous months, marking the slowest pace since November 2021. "We are excited to see the the surge in activity within the Real Estate and Rental financial activities sector, which signals a promising outlook for the industry." stated Kelly Brown, President of BGSF's Property Managment Divisions. "The continued strength in construction jobs is a clear indicator of growth not only in the multifamily real estate market but also in the commercial real estate industry. At BGSF's Property Management division, we are excited to play a key role in supporting this upward trajectory, providing top-notch talent and solutions to meet the evolving demands of these dynamic sectors. We are eager to see this propel the industry forward, creating a landscape of opportunities for both clients and job seekers alike." The breakdown of job gains by business size indicates that small and midsize businesses played a significant role in job growth during July. Small businesses added an impressive 237,000 jobs, while midsize businesses contributed 138,000 new jobs. In contrast, large establishments experienced a decline, losing 67,000 jobs during the same period. The pace of hiring in June had also been modest, with 209,000 jobs added. Although this was the smallest monthly gain in 2 1/2 years, it still contributed to a decline in the unemployment rate from 3.7% to 3.6%, remaining close to a historic low. One positive aspect to highlight is the increased participation in the workforce, especially among the age group of 25 to 54. The proportion of Americans in this category who are working rose to 80.9% in June, surpassing the pre-pandemic peak and reaching the highest level in 22 years. This suggests that higher inflation and economic uncertainties are driving more people to seek employment. Are you looking to capitalize on the positive trends in the job market and find the right talent for your business? Visit BGSF's webpage now to discover how our comprehensive staffing and talent solutions can assist you with your hiring needs. With our industry expertise and commitment to excellence, we are here to support your growth and success. Don't miss out on the opportunity to strengthen your team and drive your business forward. Contact us today to explore how BGSF can be your trusted partner in building a thriving workforce #HiringSolutions #TalentAcquisition #WorkforceSupport #BusinessGrowth #BGSF #StaffingSolutions #VisitUsNow

The June 2023 jobs report highlighted that Government employment increased by 60,000, with the majority coming from state and local levels. Understanding the factors driving this government employment growth is crucial for policymakers, citizens, and job seekers alike. In this blog, we delve into the key drivers behind the surge in government job opportunities and shed light on the potential implications for the economy and society. Key Factors Economic Recovery and Public Investment: 2023 has marked a period of economic recovery after the global challenges faced in recent years. Governments worldwide have responded by investing heavily in infrastructure projects, healthcare systems, and green initiatives. As a result, an array of new jobs have emerged in public works, health departments, and environmental agencies. These efforts have not only stimulated economic growth but also provide significant job opportunities in the public sector. Digital Transformation and Technological Advancements: The government sector is undergoing a remarkable digital transformation in 2023. As societies become increasingly reliant on technology, governments are seeking to modernize their operations and services. The expansion of digital infrastructure, cybersecurity initiatives, and data analytics has created a high demand for skilled professionals in information technology and related fields. Additionally, roles like data scientists, artificial intelligence specialists, and cybersecurity experts are becoming pivotal in safeguarding public data and enhancing government operations. Focus on Public Health and Social Services: The outbreak of the pandemic prompted governments to prioritize public health and social services. In 2023, this focus has intensified, leading to the growth of job opportunities in healthcare, public health administration, and social welfare programs. Increased funding for mental health services, community outreach programs, and efforts to tackle various health crises have also led to a surge in public health-related jobs. Environmental Sustainability and Climate Action: We are witnessing a growing global awareness of climate change and its implications in 2023. Governments have taken the lead in adopting sustainable practices and implementing climate action policies. This has led to the establishment of new agencies and departments focusing on environmental conservation, renewable energy, and climate adaptation. Consequently, jobs in environmental science, renewable energy technologies, and sustainable urban planning are experiencing significant growth. Government Initiatives for Skilled Labor Development: Recognizing the importance of a skilled and diverse workforce, governments around the world are investing in various education and training programs. Such initiatives aim to upskill the existing workforce and equip them with the necessary expertise to meet the demands of a rapidly changing job market. These programs not only improve job prospects for citizens but also contribute to the overall economic growth and competitiveness of nations. Opportunities for the Future The government employment landscape in 2023 has experienced significant growth driven by several interconnected factors. As we move forward, understanding these factors will continue to be crucial in shaping government employment trends and ensuring that governments are equipped to address the evolving needs of their societies. Job seekers and policymakers alike must stay attuned to these developments to harness the opportunities and navigate the challenges presented by this ever-changing landscape. BGSF is a proud partner of HGACBuy, a nationwide, cooperative purchasing program that can help local governments streamline the procurement process and solve their workforce needs today. Through this partnership, we serve a wide range of public sector organizations, including higher education, government agencies, and non-profits. Click here to learn more!

In today’s fast-paced world, convenience and connectivity are paramount. As the demand for smarter, more efficient living options grows, multifamily housing communities have recognized the need to embrace technology-driven amenities to meet the evolving preferences of residents. Enter the era of “smart living” in multifamily developments. In this blog, we will explore how smart living has become the new standard for amenities in multifamily housing, enhancing the overall resident experience and redefining the way we live in communal spaces. Embracing the Internet of Things (IoT): At the heart of smart living in multifamily housing is the Internet of Things (IoT), a network of interconnected devices that communicate and share data. From smart thermostats that optimize energy usage to intelligent lighting systems that adapt to residents’ preferences, the IoT empowers multifamily communities to create efficient, sustainable, and technologically advanced living spaces. Residents can control various aspects of their homes, such as temperature, lighting, and security, all from their smartphones or other connected devices. Automated Smart Home Solutions: The integration of smart home technologies has redefined the meaning of convenience for multifamily residents. Smart locks and access control systems provide enhanced security while eliminating the need for traditional keys. Residents can grant temporary access to guests or service providers remotely, ensuring a seamless experience even when away from home. Additionally, smart home automation enables personalized settings for lighting, climate control, and entertainment systems, catering to individual preferences and lifestyles. Energy Efficiency and Cost Savings: One of the significant advantages of smart living in multifamily housing is its positive impact on energy consumption. Smart energy management systems can monitor and optimize energy usage in common areas and individual units. This not only leads to reduced utility costs for residents but also positions the community as environmentally conscious, attracting environmentally-aware tenants and potentially qualifying for energy-efficient certifications. Enhanced Security and Peace of Mind: Safety is a top priority for any housing community, and smart living solutions elevate security measures to a whole new level. Smart surveillance cameras, access control, and intercom systems provide robust security features, ensuring the safety of residents and their belongings. Remote monitoring and real-time alerts empower property managers and residents to proactively address security concerns, fostering a sense of security and peace of mind within the community. Community Connectivity and Shared Smart Amenities: Smart living is not limited to individual units; it extends to shared amenities as well. Modern multifamily communities are incorporating smart technologies in communal spaces to enhance the overall resident experience. Smart fitness centers with personalized workout programs, high-tech lounges with integrated entertainment systems, and smart parcel delivery lockers are just a few examples of how technology is shaping community living. Data-Driven Resident Services: The collection of data through smart living technologies opens new avenues for resident services and community management. Property managers can gain valuable insights into resident preferences, usage patterns, and maintenance needs. Leveraging this data, they can deliver personalized services and anticipate potential issues before they arise, fostering better tenant relationships and increasing resident satisfaction. As the world embraces a digital revolution, multifamily housing communities must keep pace with changing expectations. Smart living amenities have become the new standard in multifamily living, redefining convenience, efficiency, and security for residents. From energy-efficient solutions to personalized smart home automation, these advancements not only enhance the quality of life for tenants but also position multifamily developments as cutting-edge and sustainable choices in the competitive real estate market. By embracing smart living, multifamily communities can create a harmonious, technologically advanced environment that caters to the needs of modern residents, setting the stage for a truly connected and convenient living experience. Looking for staff support in upgrading and maintaining your property? Reach out to find out how BGSF can provide the right resources for you. Contact us now!

Effective budgeting is a crucial aspect of successful property management in the commercial real estate industry. Proper financial planning and allocation of resources are essential for maximizing profits, maintaining property value, and meeting the needs of tenants. In this blog, we will explore budgeting best practices for commercial real estate property owners and managers to help them make informed decisions, improve operational efficiency, and ensure the long-term success of their properties. Best Practices to Consider Conduct Thorough Market Research: Before creating a budget, it’s essential to conduct comprehensive market research to understand the current trends and conditions of the commercial real estate market in your area. Analyze factors like vacancy rates, rental rates, and property appreciation to set realistic financial expectations. This information will serve as a foundation for your budgeting decisions and enable you to make informed predictions about future cash flows. Create a Detailed Operating Budget: An operating budget is a financial plan that outlines the day-to-day expenses required to manage and maintain the commercial property effectively. It should include all anticipated revenues and expenses, such as property taxes, insurance, maintenance costs, utilities, and property management fees. By having a detailed operating budget, property owners and managers can identify potential areas of overspending and implement cost-saving measures. Account for Capital Expenditures: Apart from operating expenses, commercial real estate properties require capital expenditures for long-term improvements and major repairs. Budgeting for capital expenditures is critical to maintaining the property’s overall value and ensuring tenant satisfaction. Allocate funds for projects such as roof repairs, HVAC system upgrades, and façade renovations to prevent unexpected financial strains in the future. Factor in Contingency Funds: In the unpredictable world of real estate, unexpected expenses are bound to occur. Creating a contingency fund within the budget allows property owners and managers to be prepared for emergencies or unforeseen circumstances. As a general rule of thumb, setting aside around 5-10% of the total budget as a contingency fund is a prudent approach to handle any unexpected expenses that may arise. Embrace Technology and Automation: Leveraging technology and automation can significantly streamline budgeting processes for commercial real estate properties. There are numerous property management software solutions available that can centralize financial data, track expenses, generate reports, and provide real-time financial insights. By embracing these tools, owners, and managers can enhance accuracy, save time, and make data-driven decisions. Regularly Review and Adjust the Budget: A budget is not a static document; it should be reviewed and adjusted regularly to reflect changing market conditions and evolving property needs. By analyzing the actual financial performance against the budgeted numbers, property owners and managers can identify discrepancies, evaluate the effectiveness of cost-saving measures, and make necessary adjustments to achieve financial goals. Focus on Tenant Retention: Tenant turnover can be costly in terms of lost rent and marketing expenses to find new occupants. One of the most effective ways to manage expenses is to focus on tenant retention. Happy tenants are more likely to renew their leases, reducing vacancy rates and turnover costs. Prioritize tenant satisfaction by promptly addressing maintenance issues, maintaining open communication, and providing desirable amenities. Engage with Professionals: Seeking advice from financial advisors, accountants, and experienced property managers can provide valuable insights and ensure a comprehensive approach to budgeting. These professionals can help property owners and managers identify potential tax benefits, optimize cash flow, and navigate complex financial situations. Navigating Your Budget Planning Proper budgeting serves as the cornerstone of thriving commercial real estate property management. By implementing diligent budgeting practices and utilizing new resources, property owners and managers gain the necessary tools to navigate the intricacies of the industry, empowering them to realize their financial goals. Looking to optimize your commercial real estate staffing plan? Our team at BGSF can help you design strategic solutions that fit your budget. Click here to learn more!

Managing a multifamily property can be both rewarding and challenging. One of the most critical aspects of successful property management is budgeting. A well-crafted budget ensures that income and expenses are carefully monitored, enabling property owners and managers to make informed decisions and achieve financial stability. In this blog, we will explore some budgeting best practices specifically tailored to the needs of multifamily property owners and managers. Best Practices to Consider Start with Historical Data Analysis: Before creating a budget for your multifamily property, it is essential to analyze historical financial data. Review previous income and expense statements to identify patterns and trends. This analysis will help you set realistic financial goals and anticipate potential challenges. Consider factors such as seasonal fluctuations, occupancy rates, and maintenance costs. Historical data provides a solid foundation upon which you can build a realistic and reliable budget. Differentiate Between Fixed and Variable Expenses: Understanding the distinction between fixed and variable expenses is crucial for budgeting accuracy. Fixed expenses, such as property taxes, insurance premiums, and mortgage payments, remain constant each month. Variable expenses, on the other hand, fluctuate based on factors like occupancy rates and maintenance needs. Categorizing expenses in this manner allows you to plan for stability while accounting for possible fluctuations. Allocate Funds for Capital Reserves: Multifamily property owners and managers must plan for long-term maintenance and capital improvements. Reserve funds should be allocated to cover unexpected repairs, appliance replacements, roof repairs, and other major expenses. Creating a separate capital reserve budget will help prevent financial strain when unexpected issues arise. Regularly Review and Update the Budget: A budget is not a static document; it requires regular review and updates. Revisit your budget periodically to compare actual performance against projected figures. This practice enables you to identify discrepancies and adjust your financial strategies accordingly. Being proactive with budget reviews will help you stay on track and make informed decisions throughout the year. Embrace Technology for Efficient Budget Management: Managing a multifamily property involves handling a vast amount of financial data. Consider adopting property management software that streamlines budgeting processes. Modern tools can assist with expense tracking, income analysis, and real-time financial reporting. By leveraging technology, property owners and managers can save time, reduce human errors, and gain valuable insights into their property’s financial health. Encourage Open Communication with Stakeholders: Transparent communication is essential for effective budgeting. Engage in regular discussions with property owners, investors, and other stakeholders to keep them informed about the property’s financial performance. Share budget reports, expense breakdowns, and any changes in the financial strategy. Open communication fosters trust and ensures that everyone is on the same page regarding the property’s financial goals. Consider Sustainable Practices for Cost Reduction: Sustainability not only benefits the environment but also helps reduce operational costs. Implement energy-efficient practices, such as installing LED lighting, low-flow water fixtures, and programmable thermostats. These eco-friendly initiatives can lead to substantial savings on utility bills, positively impacting your property’s bottom line. Key Financial Metrics Glossary As a property owner or manager, understanding the essential financial metrics in multifamily budget planning is crucial for effective decision-making, maximizing profits, and ensuring long-term success. Here we explore those key metrics and how they can impact your budget: Gross Potential Income (GPI): Gross Potential Income (GPI) is the total income that a multifamily property could generate if all units were occupied and all rents were paid on time. It includes both rental income and other sources of revenue, such as laundry facilities, parking fees, or pet rent. Calculating the GPI helps property owners set realistic revenue goals and evaluate the property’s income potential under ideal conditions. Vacancy Rate: The vacancy rate measures the percentage of unoccupied units in a multifamily property. Understanding and closely monitoring the vacancy rate is crucial because it directly impacts the property’s cash flow. A high vacancy rate can signal issues with pricing, property management, or overall market demand, necessitating strategic efforts to reduce it. Net Operating Income (NOI): Net Operating Income (NOI) is a fundamental metric that determines the profitability of a multifamily property. It represents the property’s total revenue minus all operating expenses but does not include mortgage payments or income taxes. A positive NOI indicates a profitable property, while a negative NOI calls for immediate corrective actions. Cash Flow: Cash flow is the money generated from a multifamily property after all expenses, including mortgage payments, have been deducted from the income. A positive cash flow ensures the property is self-sustaining and allows for reinvestment or distribution of profits to stakeholders. Negative cash flow may require additional funding from the owner or lead to financial instability. Cap Rate (Capitalization Rate): The Cap Rate is a vital metric for assessing the potential return on investment for a multifamily property. It compares the property’s NOI to its current market value. A higher cap rate signifies a higher potential return and may indicate a more attractive investment opportunity. However, it’s essential to consider other factors like location, property condition, and market trends when analyzing the cap rate. Return on Investment (ROI): ROI is a percentage that measures the profitability of an investment relative to its cost. In the context of multifamily budget planning, ROI helps owners and investors evaluate the property’s financial performance over time and determine if it aligns with their investment objectives. It considers both rental income and property appreciation, providing a comprehensive view of the investment’s success. Debt Service Coverage Ratio (DSCR): For multifamily properties financed through loans, the Debt Service Coverage Ratio (DSCR) is crucial for lenders and investors. It indicates the property’s ability to generate enough income to cover its debt obligations. A DSCR below 1.0 may signal that the property is not generating enough income to service its debt, which can be a red flag for lenders and investors. Navigating Your Budget Planning Budgeting is a fundamental aspect of multifamily property management, and implementing best practices can make a significant difference in financial success. With sound budgeting practices in place, and a strong understanding of the metrics that influence your planning, property owners and managers can confidently navigate the complexities of the multifamily real estate market. As a leader in the property management staffing niche, BGSF will design strategic property management or apartment staffing plans to best fit your needs and your budget. 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In the dynamic world of real estate, the multifamily housing industry has emerged as a thriving sector, offering an abundance of job opportunities and an exciting career path for professionals from various backgrounds. As property management companies seek to expand their teams and fill crucial roles, tapping into the potential of the multifamily housing industry can be a game-changer. In this article, we will explore the reasons why working in this industry is attractive to job seekers, review the entry-level positions available, and shed light on the vital role of specialized staffing companies in filling workforce needs for property management firms. The Attraction for Job Seekers A Resilient and Growing Industry: The multifamily housing industry has proven its resilience over time, even during economic downturns. As property management companies look for stability and long-term growth, the multifamily sector stands strong, attracting job seekers who value a secure and thriving industry. Diverse and Inclusive Roles: From property managers and leasing specialists to maintenance technicians and administrative staff, the multifamily housing industry offers a diverse range of roles. This attracts job seekers from different industries, as there is a place for almost every skill set and expertise. Meaningful Social Impact: Working in the multifamily housing industry provides an opportunity to make a tangible difference in people’s lives. Job seekers who are passionate about community development and improving living standards are naturally drawn to roles that contribute directly to addressing housing needs. Embracing Innovation: The industry is embracing technological advancements to enhance both operational efficiency and resident experiences. Therefore, job seekers from tech-oriented industries find the multifamily sector appealing due to the opportunity to work with smart home technologies, advanced property management systems, and sustainable building practices. Entry-Level Positions and Career Path Leasing Consultant: This entry-level position involves showcasing available properties, conducting tours, handling inquiries, and assisting with lease agreements. Leasing consultants gain valuable exposure to the multifamily housing market and customer service. Career Path: Leasing consultants can advance to become Senior Leasing Consultants or transition into property management roles. Property Administrator: Property administrators support the daily operations of multifamily properties, handling administrative tasks, record-keeping, tenant communications, and assisting property managers. This role provides a foundational understanding of property management. Career Path: Property administrators can progress to Assistant Property Manager roles and take on more significant responsibilities. Maintenance Technician: Maintenance technicians play a crucial role in ensuring the upkeep of multifamily properties. They handle repairs, inspections, and maintenance tasks to ensure the properties remain in excellent condition. This position is ideal for individuals with a technical or trade background. Career Path: Maintenance technicians can grow into Maintenance Supervisors or transition to Facilities Management roles. Assistant Property Manager: Assistant property managers work closely with property managers to oversee property operations, handle tenant issues, support leasing activities, and assist with budgeting. This role provides valuable experience for higher-level positions in property management. Career Path: Assistant property managers can progress to Property Manager roles and take on broader responsibilities. The Role of Specialized Staffing Companies Partnering with a staffing specialist in the multifamily housing industry like BGSF is essential for property management companies looking to fill workforce needs and foster growth. Industry Expertise: BGSF has a deep understanding of the multifamily housing industry’s unique requirements and demands. We can efficiently identify candidates with relevant experience and skills, saving time and resources in the hiring process. Access to an Extensive Talent Pool:  BGSF has established networks and connections within the industry, giving them access to a diverse talent pool. We can match property management companies with candidates who align perfectly with their needs and culture. Swift Recruitment Process: The multifamily housing industry moves quickly, and vacant positions can impact business operations. BGSF can streamline the recruitment process, swiftly filling gaps in the workforce and ensuring seamless operations. Focus on Long-Term Fit: BGSF focuses on long-term compatibility between candidates and employers. We aim to find candidates who not only possess the required skills but also align with the company’s values and goals, fostering better job satisfaction and employee retention. Navigating Regulatory Requirements: The multifamily housing industry includes specific regulatory requirements and certifications. BGSF can help ensure that candidates meet all necessary qualifications, saving property management companies from potential legal challenges. The multifamily housing industry presents many job opportunities and an exciting career path for professionals seeking growth and stability. With its diverse roles, social impact, and technological advancements, the multifamily sector appeals to job seekers from a wide variety of backgrounds. Click here to check out our open roles in multifamily! As a staffing specialist, BGSF can provide industry expertise, access to a vast talent pool, and a focus on long-term compatibility to ensure that these candidates join the right team and can contribute to the success of their employer in the dynamic world of multifamily housing. Click here to learn more!

National Disability Independence Day is celebrated annually on July 26th, commemorating the anniversary of the signing of the Americans with Disabilities Act (ADA) in 1990. At BGSF, we recognize the contributions and rights of individuals with disabilities and strive to provide inclusive and accessible hiring practices that benefit everyone. According to the Centers for Disease Control, one in four U.S. adults – 61 million Americans – have a disability that impacts major life activities. It is our responsibility to continually educate ourselves on disability rights and inclusive practices for all, which will foster empathy and understanding while bringing awareness to people’s lives, ambitions, biases, fears, motivations, and challenges. Ways to Honor National Disability Independence Day Establish Employee Resource Groups (ERGs): Create or support ERGs to provide a supportive network, share experiences, and offer insights on improving the workplace for those with disabilities. Our DE&I Council, VIIBE (Voices Inspiring Inclusion, Belonging, & Equity), established in 2020, continuously shares resources internally to bring awareness and education to our team members. Inclusive Recruiting and Hiring Practices: Review and update hiring practices to promote inclusivity. Focus on attracting and recruiting candidates with disabilities and ensure the hiring process is accessible to everyone. We invite our employees and candidates to show up as their authentic selves each day, ensuring that BGSF is cultivating both equality and equity, while recognizing and celebrating our differences at work, in our homes, and our communities. Celebrate Employee Contributions: As a manager, it is important to recognize and celebrate the achievements and contributions of employees with disabilities (with permission). By highlighting their successes, including ways they have overcome challenges, you can inspire others. Provide Flexible Work Policies: Flexible work arrangements are often essential to accommodating the unique needs of employees with disabilities. This may include flexible hours, remote work options, specific equipment, or other adaptations to create a more equitable work environment. Accessibility in Marketing: Marketing materials should be inclusive and considerate of individuals with disabilities. At BGSF, we strive to ensure that our materials reflect our vision of connecting people with opportunities that help fulfill their life’s mission and transform lives, using diverse individuals and inclusive language that aligns with our values. Raise Awareness: Use your network to raise awareness about disability rights and the importance of an inclusive workplace by sharing educational content from the ADA. Disability inclusion is an ongoing effort. We invite you to join in our efforts by taking proactive steps that foster an inclusive workplace to create a more diverse, equitable, and supportive environment for everyone. Be intentional and remember that every action can have a huge and positive impact on our work culture and the quality of life of our teammates. Connect with us at BGSF.com and learn more about what we value.

BGSF, Inc. (NYSE: BGSF), a growing provider of consulting, managed services, and workforce solutions has been recognized on Staffing Industry Analysts’ (SIA) 2023 Largest Staffing Firms and Largest IT Staffing Firms lists for 2023. SIA, the global advisors on staffing and workforce solutions, named companies that generated at least $100 million in U.S. staffing revenue in 2022, and $100 million in U.S. IT temporary staffing revenue in 2022, respectively. BGSF ranked #121 of (251) on the Largest Staffing Firms list and #52 of (71) on the Largest IT Staffing Firms list. “We are proud to be named once again on both 2023 Largest Staffing Firms and Largest IT Staffing Firms in the U.S. Lists by SIA,” states Beth Garvey, Chair, President, & CEO. “This recognition highlights our team’s ability to deliver top-notch workforce solutions and cutting-edge IT services to our clients across the nation. This accolade only strengthens our resolve to raise the bar further, embracing new challenges and opportunities as we move ahead. We remain dedicated to our core values and the pursuit of excellence, as we shape a brighter future for our company and all the communities we serve.” Visit BGSF.com to learn more about our workforce solutions. You can also Search our jobs or contact us! About BGSF BGSF provides consulting, managed services and professional workforce solutions to a variety of industries through its various divisions in IT, Cyber, Finance & Accounting, and Real Estate (apartment communities and commercial buildings). BGSF has integrated several regional and national brands achieving scalable growth. The Company was ranked by Staffing Industry Analysts as the 121st largest Workforce Solutions Provider and the 52nd largest IT staffing firm in 2023. The Company’s disciplined acquisition philosophy, which builds value through both financial growth and the retention of unique and dedicated talent within BGSF’s family of companies, has resulted in a seasoned management team with strong tenure and the ability to offer exceptional service to our field talent and client partners while building value for investors. For more information on the Company and its services, please visit its website at www.bgsf.com. About SIA Founded in 1989, SIA is the global advisor on staffing and workforce solutions. Their proprietary research covers all categories of employed and non-employed work including temporary staffing, independent contracting, and other types of contingent labor. SIA’s independent and objective analysis provides insights into the services and suppliers operating in the workforce solutions ecosystem including staffing firms, managed service providers, recruitment process outsourcers, payrolling/compliance firms, and talent acquisition technology specialists such as vendor management systems, online staffing platforms, crowdsourcing, and online work services.