A recent Multifamily Benchmark Survey revealed that multifamily companies are placing more emphasis on industry credentials. More companies report being willing to pay for employees to earn their credentials: 68% vs. 61% last report. There have also been substantial increases in every form of credential recognition, from preference in hiring to pay raises.
More Recognition of Credentialed Employees
In addition to paying for credentials, the survey found increases in credential recognition by employers, including preference in hiring, promotions, and salary increases.
Credentialed Employees Provide Significant Benefits to the Employer
The increases noted above reflect greater recognition of the benefits credentialed employees offer multifamily companies:
- Reduced Turnover – Credentialed employees tend to stay in the industry longer
- Reduced Risk – The experience and knowledge that come with earning a credential can reduce a company’s risk
- Competitive Advantage – More credentialed employees means a better reputation among customers
Most Valued Credentials
For the fourth year in a row, Certified Apartment Manager (CAM) is the most recognized onsite property management credential. National Apartment Leasing Professional (NALP) and the newly recognized Certified Apartment Maintenance Technician (CAMT) credentials were tied for third place after Certified Property Manager (CPM).
Credentials Benefit Employees & Employers
Whether you are an individual looking to advance your property management career or a company looking to improve retention and competitive advantage, survey results show credentials are a more important tool than ever!