As an industry, multifamily professionals have done a remarkable job in embracing and managing their reputation related to online resident reviews. In fact, according to the 2017 Multifamily CSR Benchmark Study, 85% of property management companies have a policy and procedure on responding to online resident reviews. For the past several years, industry conferences have had panels and workshops teaching strategies and best practices on how to respond professionally and in a way that enhances the company's reputation and attracts prospective renters.
In the background, however, a critical component of your reputation has slowly been exposed. The curtain has been pulled back, and all of your inner workings have been revealed. Your residents aren't the only ones who have been talking about you. Your employees have been talking, too. Not only do they have a lot to say, but there is a large audience who is enjoying the show and making decisions about whether they want to audition or exit, stage left.
Let me introduce you to the world of Company Reviews.
As with any industry, the online job search websites have evolved and expanded in their capabilities and focus. Our industry has used these websites to post jobs and find new employees. We relied on our managers and HR team to write interesting and compelling job descriptions to attract the right skill sets and value systems that would fit into our culture. Alas, those days are gone. Yes, we still need those interesting and compelling job descriptions, but those aren’t the words that will attract talent. It’s the employee-generated company reviews who capture the attention of job seekers. Just as resident reviews are the best marketing tool or the greatest liability in attracting prospects, employee reviews are our greatest recruiting tool or our biggest red flag in someone’s job search.
Take a look at Glassdoor.com or Indeed.com and check out your company reviews. If you currently don’t have a presence or a rating there, this is no time to breathe a sigh of relief. Think of it from a potential applicant’s perspective. If there are 5 leasing positions posted, and only two of the companies have any reviews, that applicant will probably apply at those two companies first.
According to Forbes, only 12% of companies found on Glassdoor are actively engaged with their listing – meaning that 88% of companies are not managing a critical component of their reputation!
Please remain calm – there are some things you can do immediately to not only gain a presence, but improve it.
1. Claim your name
Most job search websites allow you to claim your company at no cost. Do it. Do it now.
2. Evaluate your current reputation
If there are reviews about your company, what common themes come up? Celebrate the pros, and put a plan together to improve the cons.
3. Manage your reputation
The same rules apply here as with resident reviews. Ask for reviews. Respond professionally and in a way that will attract prospective employees.
These reviews are not going away anytime soon, so the sooner you jump in, the better position you’ll be in. And guess what? The talent pool is not getting any bigger, so you need every competitive advantage you can get.
Want to learn more? Watch “Treat Your Residents Second” On-Demand HERE.