Learn the secrets to winning, serving, and retaining top talent in the multifamily industry

The Great Resignation evolved from a pandemic so challenging that many Americans re-evaluated their ideas of “work” and “career”. While all industries have been impacted by The Great Resignation, it disproportionately impacted onsite teams of multifamily properties—an industry with already high employee turnover. 

Owners and operators now face an opportunity to reassess their hiring and retention strategies. Rent. hosted the webinar “How Property Teams Can Overcome Staff Turnover” with guest speaker Lori Agudo, Director of Training & Talent Development at Royal American Management, Inc. Lori discusses three staffing challenges property teams face:

1. High-stress workloads 
2. Low employee morale
3. High turnover

Working with high-stress workloads

High-stress workloads present an opportunity for property management companies to implement technology and automation that make daily tasks easier for employees. Multifamily solutions such as virtual leasing, self-guided tours, and online rent payments can keep offices functioning business-as-usual while lightening the load of burnt-out employees.

Corporate staff, regional operations, and onsite teams have adapted to a “new normal” of being short-staffed—working harder than ever from the pandemic to the current market. In the webinar, Lori shared ways to increase technology footprint to stay ahead of the changing multifamily industry.    

Addressing low employee morale

Human resource partners and leadership have an opportunity to lead with empathy and a “servant’s heart”, said Lori Agudo. One significant cause of The Great Resignation is low employee morale. Agudo shared that team members at all levels took mental health days from work due to being emotionally unwell. 

Navigating a worldwide pandemic had varying degrees of difficulty for everyone, and showing empathy will benefit employees. One way to help combat low employee morale is investing in the training and development of your team. Employees are often focused on their list of tasks, and it benefits the group to share their organization’s “big picture”. 

Sharing messages of inspiration and hope, keeping work fun, and continuing staff education on evolving technology will positively impact employee morale. In a competitive hiring market for multifamily, valuing an employee’s well-being will set a property management company apart from competitors.

Tackling turnover

Hiring multifamily employees from corporate to onsite positions requires a well-rounded effort. Lori Agudo suggests working with a staffing agency to convert temp workers into full-time hires. Property teams can also make the most of their networks and explore joint venture opportunities with Apartment Associations across America to host job fairs and promote available positions on social media.