Industry Trends: Rising Demands & Expectations
Our recent Benchmark Training Survey uncovered a number of trends affecting the multifamily industry right now. Most are a result of limited time, rising demands and expanding technology.
EASE AND SPEED OF TRAINING PROGRAM IMPLEMENTATION ARE MORE IMPORTANT THAN EVER
This year’s number one reported training goal is an easy, streamlined and quickly implemented training program. While this goal was important in last year’s survey as well, it was priority number three, behind giving employees the skills to thrive and promoting a training culture. This suggests trainers are now feeling more pressure to get employees onboarded and engaged as quickly as possible.
TURNOVER IS UP FOR MOST PROPERTY ROLES
Property managers, leasing professionals and maintenance technicians all saw increases in turnover for this report. The increase was minimal for property managers and leasing professionals but fairly substantial for maintenance technicians (20%, up from last year’s 17%).
INCREASING FOCUS ON CAREER PATHS
Career paths has moved ahead of skills training and professional development for the number three best way to improve turnover. It also showed up frequently in participant comments. Property professionals are recognizing the importance of designing, implementing and communicating a process for employees to advance their careers within the company in order to retain employees. This includes providing a training path by role, which they are also increasingly interested in.
MORE USE OF CUSTOM CONTENT
49% of property companies now upload custom content to their LMS—up from 42% last year. This indicates that property professionals are realizing that custom training can offer improved competitiveness, onboarding and compliance. Studies have projected custom training will be one of the main competitive differences among property management company training programs in the future. Advances in technology are also making it faster and easier to incorporate custom training.
HIGHER LMS INTEGRATION
35% of companies now report integrating their LMS with other company systems. This is a big jump from 20% last year. LMS integration is one of the ways companies are increasing their technology use to improve employee management and training. Integration, including data feeds and single-sign-ons, can increase training completion rates and help tie employee performance to training.
Join us for a series of webinars covering the results of the survey in more depth: