Career Growth Spurt

More jobs for multifamily

By Leah Etling on Aug 24, 2012 in News

Employment survey results from the National Multi Housing Council reveal what apartment industry insiders already know – a strong rental climate nationwide is driving job growth. In other words, it’s a great time to become a multifamily professional, or take advantage of new opportunities to expand your skills, relocate to a new market, or move up to a higher level position.

The NMHC’s 2012 Apartment Compensation Survey documented job and compensation growth, anticipated future hiring, benefits and perks, creation of new positions, and more.  Jobs are being created in online marketing/social media management, systems technology, maintenance and management.

“Digital marketing experts are in demand, as are technical trainers, who help staff members at the site level learn how to use software and interfaces relevant to their jobs,” Esther Bonardi, industry principal for RentCafe, told us recently.

Data for the NMHC report was drawn from 93 apartment companies with a combined 50,000 employees. Among the findings offered to the public:

• 65 percent of the firms surveyed grew their staff last year
• Firms that added employees grew their staff size by an average of 11 percent
• Salaries for leasing, maintenance, and property management grew an average of 3 percent
• 62 percent increased their merit bonus pool
• 77 percent of firms reported improved financial returns in 2011
• 78 percent expect those returns to improve again for 2012

Common perks offered for employees in the multifamily industry include education assistance, housing discounts, telecommuting, flex hours and wellness programs. How common are they? Among survey respondents:

• 53 percent of apartment firms offered a wellness program
• 49 percent allowed telecommuting
• 23 percent offered  flexible hours
• Over 60 percent offered education assistance to various staff
• 74 percent offered housing discounts to on-site staff

The full survey summary is for sale and can be purchased here.

The survey results reinforce observations that experts like John Cullens, President and Founder of ApartmentCareers.com, shared with us earlier this year. The building of new units means that additional staff is required to run them.

““The job growth we’re going to see because of new development that has to happen is going to have our industry grow somewhere in the 20 to 25 percent range in the next 8 years,” Cullens said.

Along with adding jobs, multifamily firms are also changing up the way they train property management professionals to achieve teams that can function at a higher level. On site staff is being urged to think like asset managers.  Aggressive training takes them deep into the intricacies of running a full-service property and emphasizes troubleshooting and strong think-on-your-feet decision making.

Are prosperous times for multifamily allowing your firm to add staff or increase compensation? Tell us how you’re keeping your employees happy – and improving their job performance –  in the comments section.