Thousands of confidential multifamily employee satisfaction surveys completed in 2020 reveal an alarming trend: many team members are not satisfied with the opportunities for growth, development, and advancement within their current companies. Specifically:

According to the 2020 Swift Bunny Index, 15% of multifamily employees say they do not have a clear understanding of their career or promotion path, and 17% are unsure if they do or not.

Combined, that means more than a quarter of multifamily employees are fuzzy on what their future holds with their current employers. For multifamily leaders who are trying hard to keep their employee turnover to a minimum, this poses a huge risk. When team members don’t know what’s next for them, they’re less invested in their future.

According to the 2020 Swift Bunny Index, 16% of multifamily employees say they are not notified of all advancement opportunities within their company, and 25% are unsure whether they are notified or not.

Combined, more than 4 out of 10 multifamily employees are missing the memo on promotion opportunities at their current employer. No doubt many are disheartened when they see others promoted, and frustrated when recruits are brought in from outside the company. “Why wasn’t I given the opportunity to apply for that job?” they may be thinking, while their engagement takes a nose-dive.

What’s a multifamily supervisor to do?

First, make it a habit to talk about your team members’ aspirations in your conversations. This is a great topic for your recurring one-on-one meetings. Don’t be concerned that by doing so you are making promises of future promotions (as long as you’re not doing that) – you’re simply fact-finding. You may discover they want to learn some new skills, and you can steer them to a training class that will satisfy. Maybe they’re eager to pitch in at another property, and you could make that happen, too. When you know what your team members want from their future, you’re better equipped to help them find it within your organization.

Next, work with your company’s leadership and HR team to ensure that open positions are socialized within the entire organization. Even if you’re certain that you’re going to hire from the outside for a specific role or skill set, publicize the opening within your team first. Seeing job possibilities may spark a current team member’s interest or curiosity and can lead to valuable conversations about skill-building or how to plot a course from their present role to a future one. Your current employees should always be given the opportunity to raise their hands and ask to be considered. Furthermore, remind your associates periodically where to find information on open positions. Even if you think everyone knows where it is, I promise you some of your team member have forgotten. It’s a good practice to draw attention to your open positions regularly. 

It’s no secret that multifamily struggles with excessive employee turnover. I hope these pointers will help you boost loyalty and longevity within your own work team.