A Dollar Saved and a Day Wasted
On a stormy Oklahoma night, the wind howled across the ranch as rain poured down in sheets. Looking to save a few dollars and hastily making a quick decision a few weeks earlier, I patched the fence with some leftover wire instead of investing in sturdier repairs. It seemed like a smart decision at the time—quick, inexpensive, and good enough. But that night, the patch gave way under the force of the storm. By morning, the animals had escaped, scattered across the fields and nearby roads. I spent days rounding them up. In the end, I faced higher costs and frustration than if the fence had been fixed properly from the start.
This is exactly how many multifamily organizations approach their workforce management. Cutting corners—whether by relying on inexperienced in-house managers to recruit or outsourcing to cheaper, generic agencies—may seem like a cost-effective solution. But in reality, it often leads to chaos, higher expenses, and long-term damage to your team and business.
Cutting Corners in Recruiting: The Hidden Costs Multifamily Leaders Don’t See
In uncertain economic times, it’s tempting to slash budgets and look for quick fixes in recruiting. Many multifamily executives delegate hiring responsibilities to inexperienced leaders or opt for low-cost recruiting agencies that don’t specialize in their industry. While these strategies appear to save money upfront, they often create bigger problems:
High Turnover: Poorly vetted candidates lead to frequent re-hiring cycles, draining resources and disrupting team stability.
Lost Productivity: Teams struggle to adapt to hires who lack the necessary skills or cultural fit.
Damaged Culture: A mismatch in values and capabilities lowers morale, leading to disengaged employees and more turnover.
The financial consequences of these mistakes are significant. According to the National Apartment Association, turnover rates in multifamily property management exceed 33% annually—far higher than the national average. Additionally, a CareerBuilder study found that 74% of companies lose an average of $14,900 for every bad hire. These hidden costs outweigh any perceived savings from cutting corners.
Why The Save Now, Pay Later Model Doesn’t Actually Work
One of the biggest misconceptions in recruiting is the belief that cutting costs will save money in the long run. The reality is quite the opposite. By handling recruitment in-house or opting for cheaper, less specialized agencies, multifamily organizations often:
Spend More on Turnover: Replacing an employee can cost 1.5-2x their annual salary, especially when accounting for lost productivity and training expenses.
Lose Time and Efficiency: Inexperienced or distracted hiring managers take longer to fill roles and are more likely to select poorly suited candidates.
Erode Team Morale: When hires don’t fit, existing employees feel the strain of increased workloads and diminished collaboration.
Cutting corners in recruiting creates a false sense of efficiency, leading to short-term savings but long-term losses. The better approach is to invest in a specialized recruiting partner who understands your industry and can deliver quality hires the first time.
From Problems to Solutions: The Peoplezest Way
Peoplezest offers the expertise and personalized approach that multifamily organizations need to overcome these challenges. Here’s how:
Specialized Knowledge: Unlike generic recruiting firms, Peoplezest is deeply rooted in the multifamily rental housing industry. We understand the unique demands and culture of property management teams.
Industry-Specific Talent Pool: Our network includes top-tier professionals specifically suited for multifamily roles, ensuring we find candidates who align with your organization’s needs.
Human-Driven Approach: At Peoplezest, we prioritize cultural and skill alignment, going beyond resumes and job descriptions. By understanding your team’s dynamics, we ensure that every hire is a seamless fit both professionally and personally.
Long-Term Partnerships: We don’t just fill positions—we build lasting relationships with our clients, continuously aligning our strategies with their evolving business goals.
Imagine a rancher bringing in an expert to help maintain the land and care for the animals. The investment might seem high upfront, but the returns—a healthier herd, smoother operations, and peace of mind—make it worthwhile. Peoplezest serves as that trusted expert for your recruitment needs.
Here’s what one client had to say about working with Peoplezest:
“Jonna Smith and the Peoplezest team went above and beyond. The Peoplezest staff works closely with some of the most respected management companies in the multifamily industry, which gave me the confidence to trust her referral. Their deep understanding of the industry and commitment to matching talent with the right opportunities made all the difference.” — Debra, SVP
The Bottom Line: Investing in Recruiting Pays Off
Cost-cutting in recruiting often leads to hidden expenses and deeper frustrations. Multifamily leaders who prioritize short-term savings risk high turnover, productivity losses, and a fractured workplace culture.
By partnering with Peoplezest to outsource your next leadership hire, you’re investing in:
Expertise tailored to the multifamily industry.
A human-driven approach that ensures every hire is a cultural and skill match.
Long-term solutions that reduce costs and strengthen your team.
Interested in learning more? Let’s chat about your goals and customize a solution to keep your team high-performance!