How Quattro Development’s Flexible Work Environment Sets Up Its Team for Success
National real estate development companies have infamously top-down leadership and inflexible corporate hierarchies. But for Rob Walters and Mike Liyeos, the co-founders of Quattro Development, their contrarian approach has reaped dividends. Their small-shop development company serves clients across the United States with just ten team members.
The secret? A highly flexible work environment.
“We have a culture that I think is different than our competitors and other development companies that we’ve seen,” Liyeos explains. According to the duo, it comes down to being as flexible as possible and empowering employees. Rob Walters and Mike Liyeos explain how Quattro Development’s adaptable work environment sets their build-to-suit development company up for long-term success.
Quattro Development’s Flat Organizational Structure
Many organizations embrace a tiered hierarchy that separates employees, managers, and the C-suite into different levels. But Quattro Development’s co-founders opted for a more straightforward approach. “We don’t really have titles. We’re a flat organization. I think it’s refreshing,” Liyeos says.
“Mike and I are both 50% owners of the company and we just aren’t really title-type people, so we don’t have a CEO or president,” Walters adds.
Instead of acting purely as co-founders, Walters and Liyeos oversee a little bit of everything to keep projects on track and fill in wherever they’re needed. Thanks to its flexible corporate structure, Quattro Development lacks the silos and red tape that hinder progress. Rob Walters and Mike Liyeos still delegate tasks to their employees, but the flat structure creates a level playing field that keeps their team agile and productive.
Hiring Through Relationships
Instead of staffing through job fairs, online postings, or recruiters, Walters and Liyeos opt instead to hire through their personal networks. “It’s just not going to come to you at a job fair,” Rob Walters says. “A big part of this business is just taking those chances and building networks,” Mike Liyeos adds.
This less structured approach led to Quattro Development’s impressively low turnover rate. “I think we’ve been pretty good at finding the right people,” Liyeos says. “A lot of the people who we’ve hired have come from relationships, either family or friends or whatever, that have been referred to us. That definitely helps.”
For Walters and Liyeos, the challenge is finding people in their networks who thrive in an adjustable environment. “We’re getting better at feeling it out for people who need a lot of structure, training, or hand-holding,” Walters says.
As a result of their careful hiring practices, Walters and Liyeos know that their company is in good hands. At the same time, they don’t have to worry about employees taking advantage of the job’s flexibility. They can simply trust their team to handle business.
Offer Flexible Employee Compensation
While Walters and Liyeos believe in generous pay and benefits for their employees, they also think outside the box in terms of compensation.
For example, Quattro Development offers employees equity opportunities. “One of the things that we offer our employees is an equity stake in every project that we develop so that we’re all working together for the common good of the company. But this also benefits each of us individually because we all have financial rewards as equity participants in the projects,” Mike Liyeos says.
Employees love the equity options, but Walters and Liyeos believe this compensation structure incentivizes employees to feel engaged and committed to their work. “If they’re making money for the company, it’s not just for Mike and me or our investors, but for themselves” Walters adds.
Offer a Flexible Work Setup
Thanks to their company’s unique culture, Quattro Development’s co-founders offer an incredibly discretionary work environment. This gives employees the freedom to work whenever and however they want while freeing Walters and Liyeos from the distractions of constant management.
“I think giving people flexibility is huge,” Rob Walters states.
Mike Liyeos adds, “Everybody knows what their job is and they know how to manage their schedule to take as much time off as they need to enjoy their lives. We don’t make people come into the office. We just don’t have rules. It’s just like everybody knows what they’re supposed to do and they get it done.”
For example, Quattro Development’s team works flex hours and in a largely remote capacity. “We trust our people and we respect our people. We don’t have a vacation policy. If you want to take a vacation, you take a vacation,” Liyeos says.
Of course, the team still stays connected. “We all communicate every day, but we don’t necessarily see each other every day. We try to get together as a group and hang out together when possible to build our culture but generally each employee can get their work done where they choose,” he adds.
While many employees would love this degree of flexibility, Rob Walters and Mike Liyeos acknowledge that it isn’t for everyone. “The thing is, it does require a certain amount of self-discipline and responsibility. I think we’re careful about who we bring on board because we know it’s just not for everybody,” Liyeos says.
Quattro Development’s Flexible Processes Support a National Footprint
Thanks to its flexible work setup, Quattro Development is able to stay small but efficient. For its co-founders, it all comes from creating a culture built on respect. “We trust our people and we respect our people,” Mike Liyeos says.
And it’s an approach that’s paid dividends. The business earned contracts with Chipotle, Vitamin Shoppe, Aspen Dental, Oak Street Health, Guidepost Montessori, and many other national chains.
Going forward, Rob Walters and Mike Liyeos believe flexibility will be key to their small company’s growth strategy. Through their unique servant-leadership approach, Walters and Liyeos believe their company has the potential to change the face of real estate development.
