In Entrata’s most recent Resident Experts webinar, Amanda Fumo, Chief Revenue Officer at Entrata, sat down with Erica White, Senior Vice President of Technology and Innovation at Article Student Living, to talk about the importance of hiring the next generation of talent in the multifamily industry. The discussion centered on identifying, developing, and empowering the individuals who will drive the future growth of the sector.

One of the key takeaways was the shift in perspective needed when hiring and developing talent. White emphasized that successful leaders in today's tech-driven multifamily landscape possess a unique blend of adaptability, emotional intelligence, and proactive problem-solving. This goes beyond traditional qualifications like specific degrees or years of experience. Instead, companies should prioritize intrinsic motivators and look for individuals that are agile, authentic, and accountable.

The conversation highlighted the importance of intentional development and cross-functional exposure. To nurture future leaders, companies must move beyond traditional mentorship and actively create opportunities for employees to gain diverse experiences across the business. Programs like "coffee conversations," which break down silos between departments, and executive coaching tailored to specific team needs, are also essential tools in this process, according to White.

Beyond that, the industry needs to broaden its talent pool. The traditional path of climbing the ranks from on-site roles is evolving. Companies must look beyond conventional multifamily backgrounds and seek out individuals with diverse skill sets and perspectives from other industries. This infusion of fresh ideas is crucial for driving innovation and adapting to the changing landscape.

Cultivating a tech-forward mindset is no longer optional. It's a necessity. Companies must build a culture that embraces technology at all levels, encouraging employees to push boundaries and seek innovative solutions. Long gone are the days when IT was solely responsible for technological knowledge. Now, it requires effort across all levels of the organization.

Innovation itself is now critical if you want to differentiate yourself from the competition. Multifamily companies must focus on how technology can drive value for their assets, improve the employee experience, and enhance resident satisfaction. This requires a strategic approach that prioritizes meaningful implementation over simply adopting the latest trends.

The webinar also underscored the value of learning from other industries. Drawing inspiration from other businesses, like learning from hospitality where the primary focus is customer service, can provide valuable insights and spark innovative ideas. White specifically pointed to companies like Disney and Chick-fil-A as examples of organizations with valuable lessons for the multifamily industry.

Ultimately, driving change requires active participation and collective action. Whether it's attending industry events, networking, or even starting new groups, individuals and companies must be proactive in shaping the future of the industry. By prioritizing adaptability, embracing diverse perspectives, and fostering a culture of innovation, the industry can ensure its continued growth and success. It's about more than just filling roles; it's about empowering individuals to shape the future.

To access the entire webinar, click here.