SelectLeaders Network’s 2014 Real Estate Hiring Trends Survey Report offers some interesting stats, indicators, perspectives and trends for Commercial Real Estate executives, agents, brokers and other professionals. For the most part, things are looking up—with some caution and restrained optimism. The comprehensive report also reveals concerns relating to the current economy and the uncertain effect of the Affordable Healthcare Act (ObamaCare) for employers and employees alike.
A rich mix of more than 1,300 real estate professionals including human resource executives and top-level managers were surveyed over three weeks in December 2013. They were asked about current hiring practices, compensation and what they expect to happen in the industry as a whole over the next year.
Here are the top five findings commercial real estate professionals should be interested in:
–> 53.5% of those surveyed had an increase in 2013 (16.1% had a decrease)
–> 67.3% expect an increase in 2014 (9.2% expect a decrease)
–> 53.7% of those surveyed received a bonus in 2013
–> 57 % expect a bonus in 2014
–> 41% say compensation is back to 2008 levels; 59 % say it is not
–> 67.4% believe hiring will increase in the coming year.
–> Over 80% say new hires will have to wear more than one hat, as job responsibilities have increased
The comprehensive report also covered the challenges many in commercial real estate are facing today. From exercising “caution in growth strategy due to the value of the dollar and the medical insurance puzzle” to the difficulty in finding “qualified recent college graduates willing to learn about real estate with good computer, writing skills and a good attitude,” executives expressed concerns that ran the gamut. Most notably is the question about how the new healthcare laws will affect their business. Some say it has caused a move towards using more part-time employers who sign up for their own healthcare. A note of optimism rings through, however. One respondent notes that “The worst of times are behind us as more capital across the globe is being allocated back to commercial real estate . . . look forward to an exciting 2014.”
Sounds good to us!
No matter what the economic outlook or current trend, commercial real estate marketing is always a smart investment– when done right. If you’re not already familiar with how BuzzTarget can help commercial real estate professionals achieve their goals strategically and economically, find out more today. Visit us at BuzzTarget.com