Public Storage built its first self-storage facility in 1972. Today it operates 2,700+ locations in the United States and Europe, totaling more than 142 million net rentable square feet of real estate. More than 20 factors were studied as a part of the analysis.
Those factors that were predictive of a successful hire, were used to create a “candidate profile.” After analyzing pay rates for the Metropolitan Statistical Areas throughout various regions in which Public Storage operates, a slight increase in wages for property-level managers was found to improve retention.
The findings from the analysis resulted in, decreased business HR and administrative costs, creating a costs savings of $290,000 to $455,000 within one years time.