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2017 Multifamily CSR Benchmark Study Results

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The dramatic results of ManagInc's landmark study of the leaders of 70 property management companies, representing 1.42 million units. The study focused on Corporate Social Responsibility (CSR) practices within the multifamily industry, specifically on programs aimed to address the needs of all stakeholders, including: employees, suppliers, residents and the communities they operate in. In addition, the study investigated perceptions about the importance of CSR and its impact on performance.

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2017 Multifamily CSR Benchmark Study Results

  1. 1. ManagInc 2017 Multifamily CSR Benchmark Study
  2. 2. Jen ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 Jen Piccotti Chief Operating Officer ManagInc @JenPiccotti #CSRVoice
  3. 3. What is CSR? ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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. 4. ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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. 5. ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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
  6. 6. ManagInc 2017 Multifamily CSR Benchmark Study 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 ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400
  7. 7. Jen ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400
  8. 8. 51% Average Annual Resident TurnoverNational Apartment Association Income and Expense Report $1500 - $5,000 Average Cost Per Move-OutMultiFamily Executive
  9. 9. ManagInc 2017 Multifamily CSR Benchmark Study Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com) 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 ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400
  10. 10. 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. 11. 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 ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400
  12. 12. 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  13. 13. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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. 14. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  15. 15. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  16. 16. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  17. 17. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  18. 18. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  19. 19. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  20. 20. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  21. 21. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  22. 22. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  23. 23. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 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% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  24. 24. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 24 CSR is important to residents, especially Millennials 80% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  25. 25. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 25 My company is committed to being a socially responsible company, caring for employees, suppliers, residents and the communities we operate within 81% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  26. 26. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 26 CSR is important to employees, especially Millennials 89% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  27. 27. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 27 CSR does, or can, have an impact on employee retention, resident retention and the company’s performance 90% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  28. 28. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 28 CSR can positively impact our company’s reputation 95% Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com)
  29. 29. 29ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 What Now? Do You KNOW What’s Important To:
  30. 30. ManagInc ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 • 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
  31. 31. ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 New 3-Part Series June 14 July 19 August 16
  32. 32. 32ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 Contact Info Questions?
  33. 33. Jen Piccotti Chief Operating Officer ManagInc, LLC www.ManagInc.com JPiccotti@ManagInc.com 866.858.1400 x104 facebook.com/ManagInc @ManagInc ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 Contact Info
  34. 34. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com) 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

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