Skip to content
Book a Demo >

Public Storage: Reducing Turnover Through Targeted Recruitment & Compensation Strategy

Private Edge (7)

Industry

Real Estate

Challenge

Public Storage faced rising voluntary turnover - especially among property managers - driving up recruitment, training, and administrative costs, while inconsistent regional performance and the lack of a framework to predict successful hires compounded the challenge.

Results

Between 2017 and 2018, voluntary turnover at Public Storage fell 10%, defying the industry trend of rising turnover amid low unemployment. In 10 markets, this shift saved $290,000–$455,000, with projected enterprise-wide savings of $15–$20 million annually.

Key Product

Workforce Modeling Solutions, Predictive Data Models, Turnover Analysis

10%
Voluntary Turnover Decrease
$290k+
Cost Savings in 10 Markets
$15M+
Projected Enterprise Wide Savings
Private Edge (6)

About Public Storage

Public Storage, one of the largest landlords in the world, operates over 2,700 self-storage locations and an  additional 28 million square feet of commercial space through PS Business Parks.

The Challenge

Public Storage was facing a sharp rise in voluntary turnover among property managers - up 28% from 2009 to 2017. This trend was driving higher recruitment, training, and administrative costs, and creating operational inconsistency across regions. The company lacked a clear framework for predicting high-retention hires, and performance varied widely between markets.

The Solution

LYTIQS analyzed more than 20 internal and external factors, uncovering a direct link between competitive pay and retention - markets with wages aligned to local averages saw turnover drop by up to 47%. Using these insights, LYTIQS developed a high-retention candidate profile and helped Public Storage to implement targeted compensation adjustments in select markets. Predictive analytics were embedded into recruitment, enabling more strategic, data-informed hiring decisions that reduced turnover and stabilized the workforce.

The Results

From 2017 to 2018, Public Storage achieved a 10% reduction in voluntary turnover, a notable accomplishment given the broader industry pattern of increasing turnover during a period of continued declines in unemployment. This improvement translated into substantial financial benefits: in just 10 markets, cost savings ranged from $290,000 to $455,000. When applied across the company’s entire footprint, the projected annual savings reach between $15 million and $20 million. By reversing the prevailing trend and retaining more employees, Public Storage not only strengthened its workforce stability but also generated measurable, recurring cost efficiencies.

Ready to get started?

Let's Talk!