GREENVILLE, S.C., Feb. 7, 2018 /PRNewswire/ -- For the sixth consecutive year, Grace Hill released its annual Multifamily Training Benchmark Survey, publishing key learning and development metrics for the property management industry. The report helps professionals in the multifamily industry to refine and improve their companies' training programs.
Download the complete 2018 Grace Hill Benchmark Survey here:
327 property management companies of various sizes participated in the survey this year.
As compliance risks increase, we see a corresponding increase in the number of hours dedicated to training each month for leasing professionals.
The survey found that most companies will pay for credentials, and preference in hiring is still the most common form of recognition. Because credentialed employees tend to stay with the industry longer and perform better, increased credentials recognition represents a future opportunity for companies to improve turnover, risk and competitive advantage.
The sixth annual Multifamily Training Benchmark Report delves into five trends currently impacting the multifamily property management industry.
"Several trends uncovered in the survey explain why quick training implementation, particularly when it comes to onboarding, is such a high priority," Dru Armstrong, CEO of Grace Hill, explained. "Turnover has increased for most property roles, and fast onboarding is critical for retaining employees. Compliance risk is also up and is equally impacted by any delays in onboarding."
Armstrong continued, "The other reason that ease and speed of implementation is in such demand is actually a positive trend: improvements in technology and increasing technology use are leading to higher expectations. Today's best eLearning expedites onboarding by providing bite-sized modules that can fit into tighter time frames versus traditional multi-day, in-person classroom onboarding. People expect faster training now because they can."
Armstrong concluded, "The survey shows an impressive capacity among trainers to perform well within tight constraints. It also indicates the future success that is likely as property companies begin to overcome some of the training challenges the industry currently faces."
The survey also includes information about salaries, bonus programs and bonus amounts, in addition to information about training budgets. 327 property management companies of various sizes participated in this year's survey. The report helps those in the multifamily industry to refine and improve their companies' training programs.
Grace Hill will be hosting several webinars to discuss the results of this year's benchmark survey:
An overview of the latest industry developments revealed by the recent survey, including increasing reliance on and integration of technology, rising turnover and prioritization of fast and effective onboarding. We'll also discuss key opportunities available to training administrators for overcoming current industry challenges.
We'll explore the biggest headaches that trainers encounter today and strategies for improving them. We'll also discuss what trainers report trying to achieve and what they feel they've been successful at. It's a great opportunity to learn from the accomplishments of peers in the industry.
Grace Hill's latest survey reveals that turnover is up for most industry roles. This webinar explores the connection between employee performance management, training and turnover. We'll look at how the three are currently connected and how they could be better coordinated to improve employee performance and retention.
Media Contact: Kimberly Cadena Phone: 202.669.0802 Email: [email protected]
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2018-multifamily-training.png 2018 Multifamily Training Benchmark Report The sixth annual Multifamily Training Benchmark Report delves into five trends currently impacting the multifamily property management industry.
snapshot-of-2018-multifamily.png Snapshot of 2018 Multifamily Training Benchmark Report Respondents 327 property management companies of various sizes participated in the survey this year.
monthly-hours-dedicated-to.png Monthly Hours Dedicated to Training Increases As compliance risks increase, we see a corresponding increase in the number of hours dedicated to training each month for leasing professionals.
the-most-recognized-industry.png The Most Recognized Industry Credentials The survey found that most companies will pay for credentials, and preference in hiring is still the most common form of recognition. Because credentialed employees tend to stay with the industry longer and perform better, increased credentials recognition represents a future opportunity for companies to improve turnover, risk and competitive advantage.
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