FRIT openly admits that they ask for very high performance from their employees while paying less than competitors. In other words, employees are overworked and underpaid. But that's essential for them to maintain their competitive advantage as the REIT with the longest record of annual dividend rate increases. They will do whatever it takes to hold onto that record, including laying off employees when the workload actually calls for additional hires. Most jobs with FRIT are not secure, especially in the current market.
They are also transparent about their expectations that you perform the duties of a higher position before getting a promotion or raise. FRIT expects you to prove you can do the work first to earn that higher title and pay. However, they tend to take advantage of this and let employees continue to do extra work without giving them that promotion. They're walking a fine line with the legality of this practice, but they always come up with excuses to make it seem legitimate and justified.
Shareholders can feel pretty secure about their investment choice. Employees should recognize that they'll never be prioritized and find a workplace that can provide them with a better environment.
One problem with the workload at FRIT is a major lack of systems. Their business processes have not grown as fast as their portfolio. They operate with outdated and inefficient methods and their offices/teams are disconnected from each other. This leaves employees too overwhelmed with tedious daily tasks to achieve any kind of innovation. The management says they're open to new ideas but they do not foster an environment that allows for developing new methods, trying things that could prove unsuccessful, or time available to review any recommendations. Those who do try to focus on innovation don't last long with FRIT.
FRIT does have good people; Many smart business people who mean well and executives who are actually approachable. They have lots of loyal employees who stick around because they remember how good things were when it was a smaller company (or they just don't have the time/initiative to find a new job). Unfortunately, the good intentions of FRIT don't translate to creating a good work environment. I would not recommend working at FRIT.
