Building Employee Retention
Digested from Multi-Housing News
Investing in the onboarding and training process, as well as team-facing technology, may help to boost employee retention.
Lower unemployment rates, resulting from a booming labor market, have heightened the challenge of keeping onsite staff in apartment communities. The average multifamily community has a 32 percent employee turnover rate, according to the National Apartment Association (NAA).
This has made the task of hiring and keeping skilled employees appear to be a daunting task. But with the right tools, operators can set their employees—and communities—up to succeed.
An article by Multi-Housing News says it is critical for the onboarding process to be done correctly. Rather than throwing new employees into a task on day one, property managers should commit a couple of days to training for the task. Invest in associates by educating them about the industry and their specific responsibilities within the community, and teaching them how to use property management systems.
When discussing the need for onboarding, Joe Melton, Vice President of Marketing and Management Support Services for The Morgan Group, says, “If you’ve been 30 days without this position being filled, you can last two more days.”
It also helps to provide ongoing training for associates to continue developing in their role. This way, operators can also track their progress and understand why certain performance issues arise.
Integrating technology into employees’ roles improves efficiency and increases opportunities for success.
Using something like an iPad leasing app to get to know prospective residents creates an engaging experience and increases the likelihood of conversion.