2017 Multifamily CSR Benchmark Study Results

ManagInc 2017 Multifamily CSR Benchmark Study

Jen
ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400
Jen Piccotti
Chief Operating Officer
ManagInc
@JenPiccotti
#CSRVoice

What is CSR?
Corporate Social Responsibility [CSR; kôrp(ə)rət | sōSHəl | ri-spon-suh-bil-i-tee]
 Initiatives to assess, take responsibility for effects on environmental, social wellbeing
 Balancing profit pursuits and ethical conduct passed the tipping point due to negative impact activities
can have on Millennial employment and purchasing decisions
 Google's slogan says it best: "Don't be evil. If you are, the world will find out and you will pay dearly.”

4
Challenge Impacting NOI:
Employee satisfaction, engagement and turnover
Only 18% of
U.S. employees
engaged (Gallup)
Turnover
costs
minimally
1.5x salary
(CFO.com)
32%
turnover rate
vs. 19% U.S.
average
(NAA; 2016 SHRM
Human Capital Report)
32%
Multifamily employee
turnover
National Apartment Association
19%
National turnover
2016 SHRM Human Capital Report

5
Only 18% of
U.S. employees
engaged (Gallup)
Turnover
costs
minimally
1.5x salary
(CFO.com)
32%
turnover rate
vs. 19% U.S.
average
(NAA; 2016 SHRM
Human Capital Report)
44%
More profitable
if engaged
Gallup
18%
Employee
engagement
Gallup

Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
2016 employee turnover rate (graph shows percent)
21.1
31.621.1
17.5
5.3 3.5
Less than 20%
20% - 29%
30% - 39%
40% - 49%
50% - 59%
60% and higher

Jen

51%
Average
Annual
Resident
TurnoverNational Apartment Association Income and
Expense Report
$1500 - $5,000
Average Cost
Per Move-OutMultiFamily Executive

2016 resident turnover rate (graph shows percent)
1.8
10.5
31.6
38.6
15.8
1.80
Less than 20%
20% - 29%
30% - 39%
40% - 49%
50% - 59%
60% - 69%
70% and higher

Opportunity:
CSR is the evolution of reputation management42%
Company perceptions
based on CSR
Forbes
45% - 63%
Cause work’s impact on
Millennial job decisions
Forbes
67%
Millennials more likely
to buy from companies
supporting good causes
Edelman Goodpurpose Study

11
• National study to learn about the multifamily
industry’s adoption rate of a variety of best
practices, perceptions of Corporate Social
Responsibility (CSR)
• Focused on all segments that collectively help
a company be successful: employees;
suppliers; residents; and the communities
they do business within
• The survey includes feedback from a large
respondent pool:
• 70 management companies
• Manage approximately 1.42 million units
nationally
• To share, please source:
• Source: ManagInc, 2017 Multifamily CSR
Benchmark Study (www.ManagInc.com)
ManagInc, LLC www.ManagInc.com
Info@ManagInc.com 866.858.1400
ManagInc 2017
Multifamily CSR
Benchmark Study

Employee Benefits – Where We’re Succeeding
Employee recognition and appreciation program / events 92.5%
Annual Personal Time Off offered increases based on tenure 91.2%
Annual Personal Time Off offered is at least 15 days 81.5%

13
Employee Benefits – Where We’re Falling Short
Paid maternity leave offered 56.9%
Paid paternity leave offered 24.1%
Student loan repayment program 12.9%

14
Education and Career Development – Where We’re Succeeding
In-house education staff and/or outsourced education program 92.4%
Company pays for employee certification education and
licensing program (i.e. NAA CAM designation)
90.6%
All position openings promoted to all existing staff 87.7%

Education and Career Development – Where We’re Falling Short
Mandatory new employee orientation program 83.1%
Formal mentoring program 50.0%
Formal career development program 45.2%

16
Overall Work Programs – Where We’re…Succeeding?
Human Resource department/staff 82.8%
Company vision and goals clearly articulated to all employees 79.7%
Monthly or quarterly communications to all employees
regarding company updates
66.7%

17
Overall Work Programs – Where We’re Falling Short
Annual employee satisfaction survey program 49.2%
Policy requiring responding to all online employee-generated
reviews (i.e. Glassdoor.com, Indeed.com)
40.6%
Annual supplier satisfaction survey program 6.3%

18
The Resident Experience – Where We’re Succeeding
Policy requiring responding to all online resident reviews (i.e.
ApartmentRatings.com, Yelp)
85.9%
Resident satisfaction feedback/survey program 84.6%
Mass text, email or call blast system for property-wide announcements 83.1%

19
The Resident Experience – Where We’re Falling Short
In-unit apartment upgrade lease renewal incentive program 41.9%
Service request guarantee 38.1%
30-day move-in satisfaction guarantee program 22.6%

20
The Greater Good – Where We’re Succeeding
Company-organized community service events 70.3%
Company permits personal time off to volunteer and perform
community service **
64.1%

21
The Greater Good – Where We’re Falling Short
Company donations made for employees who volunteer
individually or as a group
28.6%
Automatic payroll deductions for charitable donations 25.4%
Charitable donation matching 22.6%

22
Green Initiatives – Where We’re Succeeding
Low impact LED and CFL lighting used at properties 85.2%
High efficiency Energy Star appliances used for in-unit appliance
replacements and turnover units
83.1%
Water conservation systems/programs implemented 68.9%

23
Green Initiatives – Where We’re Falling Short
Recycling available at all properties 60.0%
Sustainability training and certifications for maintenance teams 40.7%
Promote local utility company renewable energy options to residents 30.5%
Renewable energy utilized at any properties (solar, wind, geo-thermal) 24.6%
Subsidize / encourage car-pooling, car sharing, mass transit, or bicycling 22.0%

24
CSR is important to residents,
especially Millennials
80%

25
My company is committed to being a socially
responsible company, caring for employees,
suppliers, residents and the communities we
operate within
81%

26
CSR is important to employees, especially
Millennials
89%

27
CSR does, or can, have an impact on
employee retention, resident retention
and the company’s performance
90%

28
CSR can positively impact our company’s
reputation
95%

29ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400
What Now?
Do You KNOW What’s Important To:

ManagInc
• ManagInc’s Everyone Can Win® Services: Multifamily’s first-ever Corporate Social Responsibility (CSR)
services that help property management companies focus on their commitment to their most important
stakeholders: employees, suppliers, residents, and the communities they conduct business in
• Focus: Focusing on employee engagement and retention, supplier loyalty, resident satisfaction and retention, and
giving back to society in a meaningful way creates a win-win for all involved, including a significant bottom line
impact due to the cost related to reduced employee and resident turnover, and an improved reputation
• Everyone Can Win® Platform: A comprehensive platform that helps clients evaluate, measure, manage and
enhance its three-pillared CSR program
• CSR Score: An option to the Platform service for companies more comfortable beginning by “dipping their toe in
the CSR waters”; CSR Score is a rating and ranking program based on perception studies with all stakeholders and
an overall evaluation of company programs targeted to each
• Awards and CSR Score: The ability to leverage a Socially Responsible Management Company Award or the
company’s CSR Score positively impacts both employee and resident recruitment due to the importance of CSR to
Millennials and others

New 3-Part Series
June 14 July 19 August 16

32ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400
Contact Info
Questions?

Jen Piccotti
Chief Operating Officer
ManagInc, LLC
www.ManagInc.com
JPiccotti@ManagInc.com
866.858.1400 x104
facebook.com/ManagInc
@ManagInc
Contact Info

Total number of multifamily units company owns and/or manages (graph shows percent)
9.7
14.5
24.2
17.7
6.5
4.8
4.8
11.3
1.64.8
Under 2,500 units
2,500 - 4,999 units
5,000 - 9,999 units
10,000 - 14,999 units
15,000 - 19,999 units
20,000 - 24,999 units
25,000 - 29,999 units
30,000 - 39,999 units
40,000 - 49,999 units
50,000+ units

2017 Multifamily CSR Benchmark Study Results

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