According to the Brookings Institute, in just a year, Gen Y (Millennials) will dominate 75% of the workforce, with 70% expressing entrepreneurial aspirations.
This seismic shift challenges multifamily leaders to rethink their organizational model.
Traditional hierarchies won’t engage a generation wired for autonomy and impact.
The question is how fast you can adapt.
Companies that empower intrapreneurs—internal entrepreneurs—by fostering innovation within their teams will capture talent that otherwise may leave.
By creating “entrepreneurship in residence” programs, multifamily operators can encourage team members to explore, experiment, and execute new ideas without leaving the security of a stable role.
Imagine incubating a tech solution in-house, testing its impact on resident experience, and—if it succeeds—spinning it off as an independent profit center.
It’s not a novel idea, many companies in the industry have done just that.
The approach offers significant upside: team engagement, retention of high-performing talent, and potentially lucrative new revenue streams.
Gen Y isn’t interested in job titles alone; they want a platform to make a difference.
Give them the chance to be intrapreneurs, and watch them bring transformative ideas to life within your business.
“Intrapreneurship is our new retention strategy. When we give team members room to build, we’re investing in our business’s future.” — Mike Brewer