The effect of education on employee turnover of apartment leasing consultants
This exploratory study examined the impact of company-provided training on the turnover rate of full-time leasing consultants in the apartment management industry. A national survey was conducted using the Institute of Real Estate Management (IREM) directory of Accredited Management Organization (AMO) companies.The survey was mailed to the 419 AMO companies that employ leasing consultants. with a response rate of 69 surveys. A statistically significant correlation was shown between the True Turnover Rate and the provision of education for leasing consultants. The three significant variables that appeared to reduce turnover included 1) tuition reimbursement at up to 50%, 2) tuition reimbursement at 51%-100%, and 3) number of hours of training per year provided. Other trends were found in this exploratory study.