| Summary: | Employee Engagement Model for the Multi-family Rental Housing Industry
Deborah R. Phillips
238 Pages
Directed by Dr. Roozbeh Kangari
The multi-family rental housing industry has faced numerous challenges in the past decade. Increased competition, declining occupancy rates and higher operating expenses have forced management companies to re-examine their organizational strategies, particularly as it applies to its human capital. Employee engagement has become an emerging topic and shows that engaged employees perform better, put in extra effort to help get the job done, show a strong level of commitment to the organization, and are more motivated and optimistic about their work goals. Companies now recognize the value in fostering a climate in which engaged employees drive sales by creating loyal customers. However, despite documented support identifying the link between engaged employees and more impressive business outcomes, little research has concentrated on the special needs and challenges of the multi-family rental housing industry. Further, there are limited tools available to assist owners and managers with the task of identifying the drivers affecting employee engagement.
An Employee Engagement Model (EEM) was developed to allow multi-family apartment rental property owners and managers to determine the percentage of satisfied residents for a given average level of engagement score. This research utilized statistical analysis, neural network techniques, and probabilistic modeling to develop the Employee Engagement Model.
The Employee Engagement Model (EEM) offers new knowledge in the relationship between employee engagement and resident satisfaction in the multi-family rental housing industry. New knowledge may also be derived in correlations of certain aspects of employee engagement and the likelihood of residents extending their leases or referring others to his/her community, thus improving business performance. It is expected that the Employee Engagement Model (EEM) will provide useful feedback to multi-family professionals in their process of talent management. It is also expected that further discussions toward improvements in measuring employee engagement and its impact on satisfaction will be prompted by this research.
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