NAA’s Mental and Emotional Health Survey surveyed 2,300 multifamily professionals. Some employees are clearly receiving the message that their job happiness isn’t important. Do you know what was at the very bottom of that list? Employee satisfaction and retention. Zego’s State of Resident Experience Management Report asked its survey respondents to rank their business priorities. Why is property management turnover so high right now? One reason may be that companies aren’t putting enough effort into keeping their employees happy. Employee turnover isn’t prioritized enough in the property management industry Also, 55% said that staff caring about renters was the most important factor in selecting their apartment. NAA reports that 20% of renters said on-site staff had a strong influence on their renting decision. That’s because 79% of people say they will not visit a property if the reviews are bad.Īnd for the people who do end up visiting, an interaction with a disengaged community associate can be a turn-off. Of course, this can lower the number of visits you get from potential renters.
In 2021, the top complaint by renters in one to three-star reviews was poor customer service according to J Turner Research. Renters who don’t receive great service from your community spread the word on review sites. The reviews for your property also take a hit. Retention isn’t the only thing that suffers when a community doesn’t have enough engaged employees. Poor resident experiences affect reputation and leasing Grace Hill calculates that renters are 6% more likely to renew when a community has engaged employees. Happy and fulfilled employees are far more likely to be attentive to your residents than unhappy ones. That certainly impacts the level of service your residents get. Or maybe you have enough people working, but they aren’t happy with their jobs. Data shows that companies who have high property management employee turnover also have a hard time keeping renters too. Under-served residents won’t stick around.
Without team members to ensure seamless experiences are happening, satisfaction levels are bound to sink. People want swift service when it comes to their homes. Residents either have to wait to be helped or settle for solving their problems themselves. Picture a community that doesn’t have enough employees. Staffing levels play a big role in how your renters feel about the community. Employee happiness impacts renter retention
#TIMEPLUS SELF SERVICE FULL#
Without a full team of engaged employees, many parts of your business start to unravel. But is it having a negative impact on community life?Ībsolutely. Why does it matter how high employee turnover in property management is?Ĭlearly, the property management industry is having a hard time keeping employees. Half of companies say they have higher employee turnover than a year ago.
We asked apartment operators about turnover in our State of Resident Experience Management Report. The non-stop demands of running a community (especially during the height of COVID) paired with lackluster salaries are making many people say “I quit.” That’s because The Great Resignation is making it even harder for apartment communities to keep employees.
But in the current labor market, NAA estimates employee turnover in property management is now as high as 70%! Under normal circumstances, turnover for on-site property management teams is usually around 30-50%. The 2022 State of Resident Experience Management Reportĭownload now What are current multifamily employee turnover rates?
0 kommentar(er)
