Apartment industry executives share human-resource strategies that are showing results.
Pinnacle is learning more every day about who the “A” candidate is for working in the multifamily housing industry.
The apartment management company, which has more than 150,000 units and 3,600 employees this year, began revising its job descriptions and overall hiring process through the assistance of PeopleAnswers, an online software application and assessment tool that helps companies with hiring and various other human resource-related functions.
“Identifying qualified candidates is critical,” says Ed Wolff, Chief Administrative Officer, Pinnacle. “If you don’t hire the right person up front, nothing else works. This system has helped us revise the job descriptions for the positions where we have experienced the most turnover. This results in a more efficient process and has enabled us to identify the most qualified candidates for these openings.”
Pinnacle invested approximately $250,000 toward the implementation of the system. Wolff says Pinnacle reviews approximately 50 applications per week, or 200 per month. “With every applicant, we learn something,” he says.
Wolff emphasizes that PeopleAnswers is not a test, but rather an assessment that focuses on defining applicants’ behavioral strengths and weaknesses and how they carry over to a particular position’s job description.
The assessment “scores” each applicant based on a formula where certain answers to certain questions are weighted. The system then assigns a “thumbs up” or “thumbs down” rating that determines if the candidate can perform the essential functions of the job.
“It’s kind of like our revenue management system that we use to crunch the numbers and determine what rent to charge—except here, it’s for hiring,” Wolff says. “You do what the system tells you, or you suffer the consequences if the applicant does not work out.”
He says Pinnacle’s turnover rate for business managers, investment managers, leasing agents and maintenance technicians had been plus or minus 5 percent from the industry norm of approximately 50 percent to 55 percent. “We’re now hoping to reduce our turnover by 20 percent across the board,” Wolff says. “And in this case, it would be healthy turnover as we will be able to better identify and hire the best candidates.”
Regional-level staff are assisting with the job description revisions, which Wolff says helped to reduce 400 different job categories into less than 100 as job responsibilities were better defined. Wolff says Pinnacle will conduct this process annually.
“Today, we require that staff members sign off on the job descriptions, acknowledging that they have read and understand their role and responsibilities,” Wolff says. “This process ensures that every associate knows what is expected of them.” – NAA’s Paul Bergeron
Managers Look to Hire Tech-Savvy Applicants
As technology evolves and changes so does the way people do business. For example, as social media becomes a staple of society, more and more people are being hired because of their skills relating to Twitter and Facebook.
This trend in social media has spread to the multifamily housing industry, where managers are looking to hire tech-savvy employees with a flair for online communication.
“I have seen the creation of new positions designed specially to manage the organizations social media relationship, which creates the need for additional job descriptions and training,” says Tonja Morris, Vice President of Associate Services at Lane Management in Atlanta.
Lenora Carpenter, Regional Manager of Lincoln Property Company, agrees, saying online software and social media skills are both key when it comes to
hiring employees in the ever-changing multifamily housing industry.
“When I interview I am always inquiring to see what potential hires know about the latest trends, and if they are using them in their day-to-day job,” Carpenter explains. “I expect my current staff to be computer savvy and have more skills in things like Excel workbooks and formulas.”
Carpenter and her staff go one step further when it comes to technology and use iPads during the leasing program. She hires people who are computer literate and has her staff use the tablet to show floor plans, photos and other information to potential residents. Because the iPad is wireless, Carpenter’s staff is able to carry the computer from apartment to apartment.
“It is giving us the leasing edge on our competitors as it shows we are not afraid to embrace technology and new trends in the market,” Carpenter says.
While adapting to new technology is key, Mike Beirne, Executive Vice President of the Kamson Corporation, says it isn’t the most important thing to look for in potential employees.
“The ability to adapt rapidly to change and absorb new techniques and
technology is important, but customer service skills and organization still rule the day,” he says. – NAA’s Ali McSherry
Good Time to Build Your Bench
There has never been a better time to build your bench in terms of hiring, according to Bozzuto’s President of Property Management Julie Smith.
“I’ve read that only 58 percent of college graduates have jobs and only about one-third are working in their chosen field,” Smith says. “To help recruit, we are contacting the deans of nearby colleges and telling them that we have job openings in leasing, for example, and to send any recent graduates our way.”
- NAA’s Paul Bergeron
Camden Scholarship Program Employees’ ‘Dream’ Come True
Camden offers its employees a generous scholarship program that helps make attending college more affordable for its employees’ children.
As many as 30 recipients are chosen each year based on achievement–both academic and extra-curricular–and other factors including references, work history and civic participation. Scholarships of up to $2,000 per semester, or $4,000 per year, are awarded for four-year colleges or universities and up to $1,000 per semester, or $2,000 per year, are awarded for study at a two-year community college.
Students may receive Camden scholarship assistance for a maximum of four years. The scholarship funds are paid directly by the Greater Houston Community Foundation to the student’s college or university and can be applied toward tuition, books, room and board, meal tickets and other fees.
“These scholarships can make going to college a dream come true for the student—and their parents,” says Sarah Barletta, Vice President of Employee Benefits.
High-school seniors or undergraduate students under the age of 25 may apply for scholarships each spring for enrollment that fall. A parent or guardian must be a full-time Camden employee and must have completed at least two years of active service with Camden by the scholarship award date.
Applications, available on the company’s website or through its human resources department, are evaluated and recipients selected by a Scholarship Advisory Committee made up of GHCF volunteers, board members and staff.
Camden executives personally funded The Camden Property Trust Scholarship Fund. Since the program began in 2007, Camden has awarded 178 scholarships totaling more than $600,000.
“After 22 years with the company, Camden never ceases to amaze me in how they continually show the employees how much they care about them and their families,” says Lauren Tarlton, Senior Administrative Assistant. “Providing the opportunity to help with the expenses of our children’s college education goes above and beyond the call of duty.”
The Camden scholarship assisted one employee’s daughter in realizing her goal of attending nursing school. “This scholarship helps to ensure that the financial burden has been lightened by this generous scholarship,” says Kathy Whittaker, Property Services Manager. “As a Camden employee, I am thankful that Camden not only values their employees through various benefits, but values our families and is investing in our children’s futures.” – NAA’s Paul Bergeron