Multifamily CSR Benchmark Study 2018
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The results of the 2018 Multifamily CSR Benchmark Study! You'll hear new data on Employee Engagement, current trends in Resident Retention, hot topics in Volunteerism and Philanthropy, and the latest in industry Sustainability efforts.
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Multifamily CSR Benchmark Study 2018
- 1. 2018 Multifamily CSR Benchmark Study 1
- 2. Jen Piccotti Chief Operating Officer ManagInc jpiccotti@managinc.com @JenPiccotti #CSRVoice Doug Miller Chief Executive Officer ManagInc dmiller@managinc.com @BMoreDougMiller #CSRVoice ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400
- 3. 3 What is CSR? ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400
- 4. What Is ESG or Impact Investing? ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 • Environmental stewardship performance • Relationships with employees, suppliers, customers, communities • Company’s leadership, internal controls Investor/lender/capital market criteria used to measure social impact commitment and performance sustainability ESG KPIs now a priority due to impact on access to capital, cost of capital Can create competitive advantage regarding financing or investor decisions What is ESG?
- 5. 5 • 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: • 87 management companies • Manage over 1.6 million units nationally – To share: • Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com) ManagInc 2018 Multifamily CSR Benchmark Study
- 6. 6 32% Multifamily average annual employee turnover NAA Income and Expense Report 50% Multifamily average annual resident turnover NAA Income and Expense Report ManagInc.com
- 7. ManagInc.com 7 *Based on 5,000-unit portfolio ** Cost estimates from Multifamily Executive, NAA Income and Expense Report ManagInc CSR Financial Impact Analysis 2018
- 8. 8 63% Cause work’s impact on Millennial job decisions Forbes ManagInc.com
- 9. 9 72% Want a chief executive to prioritize corporate responsibility CR Magazine ManagInc.com
- 11. multifamily-social-media.com 11 WHERE WE’RE SUCCEEDING 2017 2018 Employee recognition & appreciation program/events 92.9% 93.8% Annual Personal Time Off offered is at least 15 days 82.1% 90.0% Performance incentive program 70.8% 87.2% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 12. 12 WHERE WE’RE SUCCEEDING 2017 2018 Company pays for certification / licensing (i.e. NAA CAM) 91.2% 96.3% In-house education staff or outsourced education 92.9% 91.3% All positions promoted to all existing staff 88.4% 87.5% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 13. 13 WHERE WE’RE FALLING SHORT 2017 2018 Paid maternity leave offered 56.9% 51.3% Paid paternity leave offered 24.1% 30.3% Student loan repayment program 12.9% 13.0% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 14. 14 WHERE WE’RE FALLING SHORT 2017 2018 Annual employee satisfaction survey program 48.5% 51.3% Formal career development program 47.7% 53.2% Policy requiring responding to company reviews (i.e. Indeed) 42.6% 50.0% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 15. 15 What’s your reputation with your employees? ManagInc.com
- 17. multifamily-social-media.com 17 47% Requested or received info on company mission Kantar TNS 2017
- 19. WHERE WE’RE SUCCEEDING 2017 2018 Policy requiring responding to all online resident reviews (i.e. ApartmentRatings.com, Yelp) 85.9% 86.8% Resident satisfaction feedback/survey program 84.6% 92.2% Property-wide mass text, email or call system 83.1% 86.8%19 Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 20. 20 WHERE WE’RE FALLING SHORT 2017 2018 In-unit apartment upgrade lease renewal incentive program 41.9% 31.6% Service request guarantee 38.1% 40.3% In-unit smart technology (lighting, thermostat, etc.) N/A 23.4% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 21. 21 What’s your reputation with your residents? ManagInc.com
- 23. WHERE WE’RE SUCCEEDING 2017 2018 Company-organized community service events 70.3% 84.2% Company permits personal time off to volunteer and perform community service 64.1% 64.5% Volunteered with charitable/community service organization N/A 87.7% 23 Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 24. 24 Types of Charities / Community Service Organizations Food banks / kitchens 64.70% Disaster relief services 54.40% Homeless shelters / programs 51.50% Housing and neighborhood development 50.00% Abuse victim shelters, programs, crisis services 39.70% Affordable housing 39.70% Youth education programs, services 39.70% Animal rights, welfare, services 29.40% Scholarship, educational financial support 27.90% Adult education, career development programs, services 26.50% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 25. ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 25 Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com) WHERE WE’RE FALLING SHORT 2017 2018 Company donations made for employees who volunteer individually or as a group 30.3% 38.9% Charitable donation matching 22.6% 31.94% Automatic payroll deductions for charitable donations 25.4% 17.81%
- 26. ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 26 Source: ManagInc, 2017 Multifamily CSR Benchmark Study (www.ManagInc.com) WHERE WE’RE SUCCEEDING 2017 2018 Low impact LED and CFL lighting used at properties 85.2% 90.3% Recycling programs at properties 61.9% 83.3% High efficiency Energy Star appliances used for in-unit appliance replacements and turnover units 83.1% 81.9%
- 27. WHERE WE’RE FALLING SHORT 2017 2018 Water conservation systems / programs 69.8% 68.1% Internal published policy statement, policy, objectives, targets regarding commitment to the environment N/A 36.6% Promote local utility company renewable energy options to residents 30.5% 34.70% 27 Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 28. WHERE WE’RE FALLING SHORT 2017 2018 Company website includes CSR page 29.7% 21.4% Annual CSR report published and distributed 20.3% 11.4% Property portals include CSR page or section 20.0% 8.5% 28 Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 29. 29 What is your environmental reputation? ManagInc.com
- 30. 30 What is your reputation as an investment partner? ManagInc.com
- 31. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 31 My company is committed to being a socially responsible company, caring for employees, suppliers, residents and the communities we operate within 85.7%85.7% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 32. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 32 CSR is important to employees, especially Millennials 91.4%91.4% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 33. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 33 CSR does, or can, have an impact on employee retention 88.5%88.5% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 34. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 34 CSR is important to residents, especially Millennials 80%80% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 35. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 35 CSR does, or can, have an impact on resident retention 81.2%81.2% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 36. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 36 CSR does, or can, have an impact on company performance 81.4%81.4% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 37. ManagInc 2017 Multifamily CSR Benchmark Study ManagInc, LLC www.ManagInc.com Info@ManagInc.com 866.858.1400 37 CSR can positively impact our company’s reputation 87.2%87.2% Source: ManagInc, 2018 Multifamily CSR Benchmark Study (www.ManagInc.com)
- 39. 39 1. Ensure your employees / residents / partners know what you care about ManagInc.com
- 40. 40 2. Define CSR objectives and set targets for improvement ManagInc.com
- 41. 41 3. Promote your CSR practices everywhere ManagInc.com
- 42. 42 4. Talk to us about how to define, measure and manage your CSR strategy (To meet ESG criteria) ManagInc.com
- 43. Download 2018 Multifamily CSR Benchmark Study 43 ManagInc.com/reports
Editor's Notes
- Sustainable, Responsible and Impact Investing Discipline considering environmental, social and corporate governance (ESG) criteria to generate long-term competitive financial returns and positive societal impact US SIF Foundation $2.5 trillion (2016): Total ESG funds $8.7 trillion (2015): Total U.S. investments in companies actively pursuing responsible, sustainable growth Environmental, Social And Governance (ESG) Criteria is a set of standards for a company’s operations that socially conscious investors use to screen investments. Environmental criteria look at how a company performs as a steward of the natural environment. Social criteria examine how a company manages relationships with its employees, suppliers, customers and the communities where it operates. Governance deals with a company’s leadership, executive pay, audits, internal controls and shareholder rights. Environmental, social and corporate governance (ESG) criteria refer to three main factors investors consider with regards to a firm's ethical impact and sustainable practices. The criteria are used in ESG investing, also sometimes referred to as sustainable, responsible and impact investing or socially responsible investing. Examples of ESG criteria used by investors include determining a company's impact on climate change or carbon emissions, water use or conservation efforts, anti-corruption policies, board diversity, human rights efforts and community development. Investors who want to purchase securities that have been screened for ESG criteria can do so through socially responsible mutual funds and exchange-traded funds. According to the US SIF Foundation, the value of ESG funds totaled more than $2.5 trillion by the end of 2016, while U.S. investments in companies that actively pursue responsible, sustainable growth accounted for about $8.7 trillion in assets under management (AUM) at the end of 2015.
- Promoting existing employee benefits Energy savings programs Track and promote volunteer efforts – and include your residents and suppliers!
- Promoting existing employee benefits Energy savings programs Track and promote volunteer efforts – and include your residents and suppliers!