NBC-CAM Survey Finds More Than One-Third of Management Firms Plan to Hire
FALLS CHURCH, Va., March 13, 2012 /PRNewswire-USNewswire/ -- The national unemployment rate is still relatively high by historic standards, but the ongoing skittish economy isn't hurting the outlook for community association managers. The job market for trained, professional community association managers appears rosy, with more than one third of management companies or professionals saying they plan to increase staffing in 2012.
That's up from one-quarter of firms hiring last year, according to a survey released in March by the National Board of Certification for Community Association Managers (NBC-CAM). Hiring and employment findings are outlined in the report: The 2012 Employment Outlook for Community Association Management, which surveyed 1,509 professionals in the industry.
The percentage of HOA management firms and boards that expect to hire is higher than small businesses overall, according to information released in a Wells Fargo/Gallup Small Business Index Poll in early February. Gallup reported that 22 percent of U.S. small businesses plan to add jobs, while the NBC-CAM poll found 33.5 percent of management companies intend to add jobs.
Likewise, fewer management companies plan to decrease jobs when compared to small businesses in general. Just 2.8 percent of community management professionals surveyed plan to decrease hiring, while 8 percent of companies Gallup surveyed said they plan to shrink their workforces this year.
"Community association managers are in demand," said Robert Felix, CMCA, LSM, PCAM, RS, chair of NBC-CAM Board of Commissioners.
"More than 62 million Americans live in residences governed by homeowners' associations, condominium communities, residential cooperatives and other planned communities," Felix continued. "And regardless of what happens in the economy, for many Americans, their home is their single largest financial investment, so it makes sense that HOA boards and homeowners would seek to hire trained, professional managers to handle their communities' finances, insurance, governance, rules enforcement and maintenance."
Key trends from the 2012 Employment Outlook for Community Association Management include:
- Compensation will jump: As recruiting for talent becomes more competitive, employers plan to increase pay for current and prospective employees, especially those that have passed key certification tests such as the Certified Manager of Community Associations (CMCA®) examination.
- Employers will invest in training and re-skilling workers: Because of the need for workers with current up to the minute skills, it seems reasonable that employers will assume the cost of certifying and recertifying managers.
- Employers will find opportunities targeting African-American, Asian and Hispanic workers: The community association management industry may find ample opportunity by making a concerted effort to increase diversity. Of those responding to the NBC-CAM employment survey, 92.4 percent listed their race/ethnicity as white, 3.6 percent as Hispanic, 2 percent African-American and 1.7 percent Asian.
- Despite the aging workforce, older managers may resist retirement: While the recession has forced many would-be retirees to remain working, many community association managers may also delay retirement because of the sense of community and productivity brought by working.
"Community association management is a rewarding, stable career choice that allows professionals to make a big difference in their communities," said Felix. "For anyone considering the field, CMCA certification provides both an educational and professional boost that can jumpstart careers and pave the way for an exciting future."
NBC-CAM is a 16-year-old independent board that develops certification and standards for community association managers. We administer the CMCA examination, a rigorous, three-hour test that measures managers' knowledge of community management best practices. Passing the CMCA examination and maintaining the standards of the CMCA certification is proof that a manager is a knowledgeable, ethical and professional. CMCA-certified managers have the skills to safeguard the assets of homeowners' associations, giving homeowners peace of mind and protecting home values. For more information, go to www.nbccam.org.