Cortland Transforms Property Management Leadership with ManageBetter

Company Profile

• Company: Cortland

• Industry: Multifamily Real Estate

• Founded: 2005

• Headquarters: Atlanta, Georgia

• Size: 700+ employees

• Department: Property Management (150 team members, 15 regional managers)

Problem

Cortland faced significant challenges in their property management operations that hampered efficiency and effectiveness. Regional managers were overwhelmed with administrative tasks related to performance management, spending around 6 hours weekly on these duties. This inefficiency contributed to a high annual turnover rate of 35%, driven by poor performers, infrequent feedback, and lack of clear communication. There was also a persistent misalignment between individual property goals and the overarching company objectives, which led to operational inconsistencies. Furthermore, identifying and nurturing high-potential employees proved difficult without a streamlined system, limiting the company’s ability to foster internal talent and prepare future leaders.

Solution

After six months of implementing ManageBetter, Cortland experienced significant improvements in various aspects of their operations:

• Leadership Effectiveness: There was a 31% improvement in leadership effectiveness, as regional managers utilized the AI-powered insights to enhance their management strategies.

• Administrative Efficiency: Time spent on administrative tasks by regional managers was reduced by 40%, allowing them to focus more on strategic initiatives and team development.

• Employee Engagement: Employee engagement levels increased by 18%, reflecting a more motivated and committed workforce.

• Turnover Rate: The annual turnover rate decreased from 35% to 25%, attributed to the consistent feedback, clearer communication channels, and improved relationships between managers and employees.

• Goal Achievement: Property-level goal achievement improved by 12%, demonstrating better alignment and execution of objectives.

• Talent Development: The system identified 15 high-potential employees, who were then placed on fast-track development programs to prepare them for future leadership roles.

Results

After six months of using ManageBetter, TechNova Solutions saw remarkable improvements:

1. Leadership Effectiveness:

   • 31% improvement in leadership scores, as measured by 360-degree feedback

   • 18% increase in employee satisfaction with their managers

2. Time Efficiency:

   • 40% reduction in time spent on administrative tasks (from 6 hours to 2.4 hours per week)

   • Managers reported having more time for strategic thinking and mentoring

3. Employee Engagement and Retention:

   • Employee engagement scores increased by 18%

   • Annual turnover rate decreased from 35% to 25%

4. Goal Achievement:

   • 12% improvement in goal achievement rates

   • 85% of employees reported clearer understanding of how their work aligns with company objectives

5. Talent Development:

   • Identified 15 high-potential employees who were subsequently fast-tracked for leadership roles

Try ManageBetter Today

Experience the transformative power of AI-enhanced leadership with ManageBetter. Start your free trial and discover how our innovative solution can elevate your property management leadership and drive unprecedented growth.