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J Turner Research’s 2025 edition of the annual Multifamily Leaders Survey provides critical industry insights via industry professionals and (you guessed it) leaders. The report leveraged our extensive historical data to reveal evolving expectations regarding portfolio performance, rent strategies, financing availability, amenity preferences, and more. The focus on this month’s Brewing Data blog is mitigating staffing risks and retaining employee morale.
NAA and NMHC cite that onsite turnover during Q4 of 2024 was 36-45%. For context, employment turnover rate across all industries in the US during that same timeframe was roughly 9-10%.
Respondents recognized this problem and highlighted a range of initiatives to ensure proper talent management. They emphasized the growing importance of work-life balance, recognition, and proactive communication strategies.
Below I’ve detailed specific initiatives that were repeatedly mentioned and categorized them into two wider themes:
Attracting and Retaining Talent:
- Compensation and Benefits
Increase pay, offer bonuses, and provide comprehensive health insurance
- Cultivating a Positive and Inclusive Work Environment
Foster respect and maintain open communication
- Investing in Training and Development
Offer in-house training, support external certifications, and create mentorship programs
- Prioritize work-life balance
Reducing Turnover and Boosting Morale
- Communication and Transparency
- Recognition and Appreciation
- Team Building and Collaboration
Have team-building activities, facilitate volunteer opportunities, and encourage cross-functional collaboration
Remember – happy employees beget happy residents! Creating a culture of genuine appreciation and recognition is paramount for operators and marketers to thrive in today’s multifamily environment. If you haven’t already, be sure to check out the 2025 Multifamily Leaders Survey.