At Korman Communities, our approach to employee satisfaction extends beyond mere policy — it's woven into the fabric of our identity. As a family-run business, we believe in treating every team member with respect, encouragement, and support one would expect, where all team members are given the same opportunities to grow and develop in their careers. This philosophy underscores every aspect of our operation and is a testament to our commitment to creating a workplace where team members are recognized and celebrated for their contributions. Many of our company leaders have worked in the Korman organization for over 25 years.
Through decades of evolution in our services, expansion of our properties, and growth of our teams, we've remained true to our foundational values encapsulated in the acronym QUEST: Quality, Uniqueness, Excellence, Service, and Teamwork. These values guide our efforts to ensure that every action and decision promotes diversity, equity, and inclusion.
This focus on a supportive and inclusive culture sets us apart in a landscape where disconnection in the workplace is common. By and large, most team members don't feel a sense of connection with their employers. Nationally, worker engagement rates consistently reach around 32%. In other words, around two-thirds of team members are tepid about their work, at best. Yet some employers are doing things differently and boasting exceptional employee satisfaction ratings as a result — like Korman Communities.
Recent feedback underscores that Korman team members are engaged and deeply committed to advancing their careers within a company that values respect, kindness, and professionalism. This commitment is illustrated by our significantly above-average tenure rates. While the national average employee tenure hovers around 4.1 years, Korman boasts numerous team members who have dedicated well over a decade to our company, including a Senior Vice President who retired in December 2023 after an impressive 50-year career. Many team members and department leaders have celebrated 10 to 30-year milestones with us, and the COO of AVE marks over 35 years with the company. A Senior VP in Technology started the IT Department in 1999, and continues to contribute elder wisdom after 25+ years of service.
From the beginning, Korman has prioritized implementing employee satisfaction strategies — not because they are groundbreaking, but because we see them as fundamental. Despite their simplicity, these principles are not as widely adopted as one might expect. As Voltaire once noted, "Common sense is not so common." In a landscape where genuine employee engagement can seem elusive, our approach stands out as a testament to the value of straightforward, sincere efforts to create a fulfilling work environment.
Our methods for ensuring team members feel like extensions of the Korman family are simple. First, we create a supportive work environment that offers a personalized experience and allows for upward mobility at every level of employment.
As a regional director who's been with us for 16 years recently mentioned, at Korman, "You have the opportunity to create your own path." Another general manager with nine years (and counting) at Korman added that the ideas she brought to the table were always "accepted and expanded upon."
To show our team members that we notice their achievements, we recognize and reward both small and large wins. After all, they're in property management, an industry that thrives on innovation. By acknowledging and celebrating innovative practices, we incentivize our teams to continuously elevate the standard of excellence.
Ultimately, we prioritize people over everything else. This commitment has allowed us to reap the extensive benefits of employee satisfaction and enjoy a reputation for true excellence in our industry.
Team Member Satisfaction: The Spark for Satisfaction in All Areas
"AVE truly defines the meaning of 'People Serving People' by providing genuine care to both our residents and team members every day!" — Julio Chavez, Brand Executive Housekeeper, AVE.
When team members are happy, they make it easier for companies like ours to operate efficiently and effectively. For instance, we have more time to devote to our residents, investors, and ideas because we're not dealing with constant staff turnover. Plus, we're never at a loss for unique concepts. With a stable, committed, and well-trained workforce, we can consistently push the envelope without losing legacy knowledge. The result is that everyone within Korman can focus on performance.
The benefits of employee satisfaction aren't limited to internal outcomes, either. They naturally spill over into our relationships with the residents, investors, and communities we serve. By placing a strong emphasis on team member engagement, we unlock a wide array of positive impacts across all stakeholders we engage with.
By prioritizing the satisfaction of our team, we directly bolster the attractiveness of our investments at Korman. Our commitment to creating a positive work environment ensures that every property is managed with attention to detail and a drive for innovation, which is crucial for maintaining high occupancy rates and maximizing property income. This operational excellence, born from a culture of employee engagement, helps foster resident loyalty and secure the trust of potential investors. It assures them of the steady, sustainable returns that our properties are known for.
For example, consider resident retention rates. Korman is proud to say that our residents tend to stay or return for longer than might be expected in our industry. According to recent surveys, our resident satisfaction rates are 5.2% to 17.1% higher than national averages. We credit those findings to the fact that residents regularly interact with the same pleasant, dedicated team members. Since they are stable in their jobs, they can form lasting connections with residents and offer an extraordinarily personal, concierge-style touch. That's a distinct difference between Korman properties and properties providing less individualized leasing structures and uneven team member interactions.
Team member satisfaction also leads to better investor returns. Because property management staff stay with us, they become devoted to their jobs. They see the properties they're responsible for as thriving communities rather than soulless buildings. Therefore, they take care of those communities and often see a low vacancy rate for their efforts. This is why many investors talk about Korman buildings producing a good ROI on investment property.
Our team members say it best: "I love how my role presents new challenges and opportunities. My goal is to set myself, my team, and our property up for success daily to produce positive financial results while providing excellent service to our guests." — Monica Morales, Senior Assistant Manager, AVE Austin North Lamar. Monica's perspective underscores the direct link between the well-being of our team members and the financial success of our properties, illustrating how a deeply engaged staff enhances the living experience for our residents while securing and amplifying the financial outcomes for our investors.
Evolving Toward the Integrated Community Model
What's next for Korman and our team members? Our ongoing project involves cultivating what we envision as integrated communities within our properties. These are spaces where living, working, wellness, and leisure coexist seamlessly, offering more than just residence but a full-fledged community experience.
Achieving this comprehensive living experience requires a team driven to implement diverse amenities, such as coworking spaces, wellness centers, and recreational facilities. These efforts transform our properties into comfortable environments where residents and guests are happy to come home. In line with this vision, we are committed to nurturing our team's growth and providing a sense of belonging.
Our strategy for fostering employee satisfaction is deeply rooted in our community ethos. By offering competitive salaries, comprehensive health benefits, and a matching 401K, we ensure our team's financial well-being. We prioritize work-life balance through significant PTO and unique benefits like complimentary AVE and AKA stays. Additionally, we support professional development with personalized training and opportunities for advancement. This integrated approach to team support enhances employee satisfaction and drives our operational excellence, fostering a culture of innovation and increasing the value we deliver to all stakeholders.
From recruiting and training new staff to celebrating and honoring long-tenured executives, Korman looks inward so we can achieve outward success. To learn more about Korman or find out about employment opportunities, please contact our team. We're always interested in hearing from others who see the value of the Korman approach to prompting record-high team member engagement.