1,583 Multifamily Collective: Incentive Strategies in Multifamily Organizations

In this insightful episode of the Multifamily Collective, Mike Brewer delves into the nuanced world of incentives in multifamily organizations. Mike explores the dynamics of bonuses, including year-end and quarterly, along with merit increases and cost of living adjustments in salaries. Key Discussion Points: Performance Bonuses: Unraveling the effectiveness of frameworks like OKRs, PFPs, and other KPI-based models. KPIs: How they should be measured using analytical tools for precise results. Revenue and KPIs: An in-depth look at how revenue KPIs can be structured to reward under, on-par, and overachieving scenarios. Wage Increases: Discover how multifamily organizations can utilize KPI scores to determine appropriate wage increases, combining merit-based adjustments with cost-of-living considerations. Practical Examples: Mike provides relatable scenarios and examples to illustrate how these incentive models operate in real-world settings. Are there other incentive models in the multifamily space that have shown effectiveness and could be adopted or adapted? Share your experiences and thoughts! Stay tuned for more thought-provoking episodes from the Multifamily Collective, where we explore the latest trends and strategies in property management and multifamily leadership. Don't forget to like, share, and subscribe for more valuable insights. Leave your comments below to join the conversation! #mikebrewer MultifamilyCollective #PropertyManagement #IncentiveStrategies #Leadership #KPIs #PerformanceBonuses #WageIncrease #MultifamilyIndustry #RealEstateLeadership #MikeBrewer