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2023 AppFolio Property Manager Hiring and Retention Report

While the property management industry may no longer be as susceptible to the Great Resignation as it was just one year ago, hiring continues to be a challenge. This report will provide you with strategies to improve employee satisfaction to make attracting and retaining top talent easier, resulting in a more efficient and profitable operation.

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Despite operational challenges, employee turnover is slowing

But that doesn’t mean you should let your guard down in your efforts to find talent. Hiring continues to be a challenge, and our data shows that there is still room to improve employee satisfaction, which can lead to greater retention, motivation, productivity, and profitability.

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9% of team members surveyed are thinking about leaving their company.

A significant decrease from 25% reported in 2022.

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70% of satisfied employees are satisfied with their opportunities for career growth.

Only 41% of unsatisfied employees report being satisfied with opportunities for career growth.

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A reported average of 15 hours of work per week can be optimized with technology.

This number jumps to 18 hours per week among employees at companies with at least 10,000 units under management.

Within this report

Introduction

Why did we conduct this survey? Because keeping teams happy leads to greater retention, motivation, productivity, and profitability.

Background

Get a big-picture view of how employee satisfaction has changed since last year.

Opportunity: Nurture your team’s careers

Without a clear path to success, team members are likely to look elsewhere. Discover what you can do to provide growth opportunities for your team members

Opportunity: (Continue to) develop positive company culture

Company culture is misunderstood, but it’s becoming more and more important to employees. Explore what it is, why it matters, and ways to develop company culture that can help keep teams engaged.

Opportunity: Reward top performers

While increasing cash compensation may not be possible, there are other meaningful ways to boost compensation. Check them out here.

Harness the power of technology for increased efficiency

Uncover ways your business can be more efficient and productive with the team you have now, while maintaining a growth mindset to keep adding units and increasing revenue.

The case for AI

Survey respondents reported 15 hours per week could be streamlined with technology. Discover how this number can grow by a multiple when leveraging artificial intelligence.

The future has already begun

AI isn’t brand new to the property management industry. Check out some of the most cutting edge uses of artificial intelligence in property management software.

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