Turnover. The Canary Multifamily Can't Afford to Ignore.

turnover. the canary the multifamily industry can't afford to ignore.


A recurring theme of my time in the multifamily industry is that hiring is a struggle and yet, I know there are amazing talent teams pulling people in at companies across the industry. I've been a part of successful initiatives to go into universities and attract new people to the industry. I see and hear about new people coming into the industry every day. So why is there a hiring crisis?

To my eyes, it's because we don't have a hiring crisis, we have a retention crisis. With a turnover rate averaging nearly 33% a year, our industry ranks as one of the worst in the country. That begs the question of why? I've got a working hypothesis - they don't feel like they are being given a chance to succeed.