If you haven’t heard of corporate social responsibility, it’s time to start listening. What is it, and why should you care? Corporate social responsibility, CSR for short, is not just another buzz phrase in multifamily housing: it might be the key to employee retention. We met with Jen Piccotti, Chief Operating Officer at ManagInc, the industry leader in resident and employee satisfaction, retention and education to learn more. What is CSR? Jen Piccotti: Corporate social responsibility is a focus on corporate culture to improve retention, reputation, recruitment and performance. But it’s more than just volunteerism and green initiatives. CSR is rooted by three pillars: The Workplace This is a focus on providing the support and resources to employees so they can do their best work—as well as to suppliers. And that part is important because residents don’t always see a distinction between in-house maintenance staff, for instance, and the landscaping crew who’s contracted out. So it’s important to work with suppliers who are paying attention to their culture and their impact, because who you choose to work with is a representation of your brand. The Living Environment Here, we ask ourselves questions about the communities we build and manage. Are we providing everything residents want and need? How is our customer service? What do our policies and procedures look like? The Greater Good This is what most people think of when they think of CSR: it has to do with volunteerism, philanthropy, utilizing resources responsibly, and maintaining a code of ethics. What does CSR have to do with staff retention? JP: More and more prospective employees, especially Millennials who make up the largest segment of the work force, are asking questions. What kind of company is this? How do you run your business? They...

The senior living industry employs close to a million people, and the sector is expected to add nearly 300,000 jobs by 2026. With employee turnover already a worrisome—and costly—issue, companies need to arm themselves to keep up with demand. That means thinking not just about hiring, but also retaining key staff. What does it take to temper employee turnover? It’s not just about more money. If you want to keep employees in this competitive landscape, it’s about engaging staff by creating a truly employee-centric culture. Here’s how: Build an environment of recognition In order to realize the significance of their roles, staff need to feel appreciated by management, their peers and by residents. Sadly, only 21 percent of employees think they’re truly valued in the workplace. The good news? 44 percent say they’d regularly give peer-to-peer recognition if it were easy to do. Develop simple, quick ways to deliver acknowledgement, and make sure that it’s visible across the organization. You might be surprised how much feeling appreciated boosts morale. Promote balance with flexible scheduling Practicing work-life balance in the long-term care industry, where many residents require round-the-clock care, can prove to be more challenging than in other industries. But giving employees some flexibility is possible. Start by setting a quota on number of weekends and holidays worked, then allow staff to set schedules autonomously by working with colleagues to optimize their hours. Talk to standout staff Reach out to the best of the best on your team and ask important questions: What motivates them? Why do they stay? What could you be doing better? Find out what makes them tick, then apply these learnings to the greater organization. There’s no input more valuable than from top performers who are satisfied and come to work...