Competition for Talent Heats Up

Posted on November 8, 2018

By: Christopher Lee

Commercial real estate companies face big challenges in attracting and retaining exceptional professionals.

THE competition among real estate companies for talent heated up dramatically in 2017.  The “2017 NAIOP/CEL Commercial Real Estate Compensation and Benefits Report” reveals that demand for transformative leaders, next generation stars who could “lead” a division, department or practice over the next 10 to 20 years, has created a bidding war for exceptional talent.

Three Executive Positions Hardest to Fill

The three positions garnering the most attention were focused around leadership, knowledge and talent: Division/Department/Practice leader, Talent Management leader and Director of Research.

The number of firms working to identify and hire Division/Department/Practice leaders was acute. Real estate firms recognize that visionary leaders who create aligned aspirations and inspire great performance from others are very hard to find. Tenure and longevity alone do not automatically create a true leader.

The second position in high demand was Talent Management leader. The cornerstone for success in every real estate firm is the quality of its talent. The number of firms elevating the leader of talent management, formerly called the human resources director, to a C-suite position accelerated over the past 12 to 24 months. However, finding individuals who can create a highly productive workplace environment is proving to be a challenge heading into the second half of 2018.

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