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How to Inspire Higher Employee Retention

In trying times like these, employee retention is a huge concern for employers. This is especially true in challenged markets like commercial real estate. As workplace culture changes and the economy becomes more unpredictable, building a loyal employee culture is simultaneously more vital and more difficult.

But it doesn’t have to be impossible. Understanding the factors that lead to higher employee retention in the CRE workplace will give you the competitive edge to build and maintain a dynamic workforce intensely loyal to your company and goals.

Employee Retention Starts at the Beginning

The first and greatest way to reduce employee turnover is to hire the right people, according to the Wall Street Journal. A poor or shallow hiring process will produce a high turnover rate. People don’t tend to hang around when they are not closely aligned with the company culture, values, projects, or skill set requirements.

There are numerous costs associated with a bad hire, and a high turnover rate is one of the least talked about. Yet your company stands to lose a ton of revenue, productiveness, and even morale. To protect your bottom line, keep your employee retention high by hiring the right people for the right job. Your employee retention program should begin all the way at the beginning with a highly effective and thorough hiring process.

The onboarding process is also crucial to ensuring low turnover. Starting on Day One, give your new hire the right first impression. 54% of new hires report a mishap on the first day of a new job! To start on the right foot:

  • Prepare their workstation in advance with the supplies and equipment they need (this may look different in a virtual environment, but remains important).
  • Have a clear list of expectations and responsibilities ready and waiting for them.
  • Immediately introduce them to the team in a sociable way, giving them a chance to start lasting relationships. This is especially relevant in a virtual work environment. The team needs to be able to understand who the new hire is and what capabilities they have to ensure the right training, management direction, and workload is provided.

Invest in Company Culture

While a competitive compensation package is important for employee retention, even more integral is workplace culture. Inspire your employees with a culture of inclusion and diversity. Clearly communicate to them the company mission and values and gather their buy-in as well. When your employees believe in your company, they won’t jump ship at the first opportunity to make an extra buck. Position your organization as more than just a workplace. Foster an atmosphere of family and cooperation.

Stephen Covey once called trust “the one thing that changes everything.” And building workforce relationships on trust can be the difference maker for employee retention. Here are a few secret ingredients for infusing trust into your company culture:

  • Establish Competence: If your employees believe they work for the best company in your field, this will build trust and loyalty.
  • Demonstrate Integrity: It goes without saying that honesty is the absolute best policy for building trust in the workplace.
  • Be Consistent: If your division or company is always swinging from one extreme to the other in response to market changes, employees won’t be able to trust in your stability and longevity.
  • Decide with Transparency: Your employees are your stakeholders; don’t leave them in the dark.

Become Your Employees’ Career Coach

It sounds counterintuitive, but taking an interest in furthering the career goals of your employees will result in higher employee retention. Employees must feel fulfilled and engaged in their work. Therefore, your job as a manager is to help them find their purpose and then align it with their contributions to the company. When they are thoroughly engaged and appreciated, they will be far less likely to roam.

Ask these key questions to help them connect with that sense of appreciation and fulfillment:

  • What are you good at?
  • What tasks do you enjoy?
  • What are the most useful things you do here?
  • What are you learning that will prepare you for future goals?
  • How do you relate to others?

These questions will help employees better understand their role and unique offering to the company. In turn, they will better integrate with their teams, they will contribute more to the mission, and they will become more productive and skilled in their jobs.

Help your employees find meaning at work, closely align new hires with their strengths and pay attention to the role needed now and how that will grow, and create a vibrant and diverse culture they can believe in. Increasing employee retention – even in trying and difficult times – is really just a matter of inspiring them to achieve great things as an invested part of your team.

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Life Science Building Demand and Pumped Up Pocketbooks

The demand and interest in life science real estate as a home for all of the life-changing life science, biotech, and research companies has skyrocketed, especially since the start of the pandemic. And the talented professionals behind creating those innovative lab and research buildings have never been more highly valued.

Being based in San Diego, a top life science hub, we have been engaged by a number of companies looking to expand their platforms into the life science space or grow their current life science presence.

Below is a summary of what we’ve gleaned from 100+ conversations with life science development and acquisitions experts throughout the country.

  • Dearth of mid-level managers: Life science developers have vertical or regional leads and analytical and administrative support, but it is very rare that they will have a true manager on their team. A manager would be someone with 7- 10 years of experience who has come up through the ranks on the technical side and may be managing a team/project, but is not the ultimate decision maker/rainmaker.
  • The role of consultants: So how do life science real estate companies operate without middle-management? Cue the consultants. Many of the pieces of development are outsourced to specific consultants (i.e. someone just for entitlements, someone just for design, someone just for construction management, etc.). When identifying life science development and acquisitions talent, then, finding one person with hands-on soup-to-nuts development experience in a mid-level managerial role is not common.
  • Location agnostic compensation packages: Compensation packages for life science development and acquisitions experts seem to correlate directly to their years of professional experience. Where they live and where their companies are headquartered doesn’t seem to make much of a difference despite disparities in cost of living. For example, you are just as likely to see a senior development veteran in San Diego bringing in the same compensation package as someone based in San Francisco, D.C., or Philadelphia. The average total compensation package is over half a million dollars, ranging anywhere from $300K – $1.2M+.
  • Equity and upside: While common in senior management and executive positions for most CRE asset types, equity or other upside incentives are part of comp packages at nearly all levels in life science development and acquisitions roles. The upside can be substantial, averaging 30% of their total compensation package and ranging as high as 100% (on top of their base salary and cash bonus). With that magnitude of incentives tied to deals and projects, these life science experts tend to be invested in their companies for the long-haul.
Life Science Building Demand

The pool of people with life science development and acquisitions knowledge remains small as compared to how large of a sector life science real estate is in terms of project size, cost, and growth. That makes talent highly sought after and correspondingly compensated. As there is still a sweet spot of deals for new life science developers to make their mark before competing with the veterans on landmark projects, and plenty of capital interested in the space, it will be exciting to see what this sector and these impressive professionals continue to achieve.

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Business-Friendly Market? San Diego is the Place to Be!

In its latest report the Business of Cities, JLL has selected San Diego as the most business-friendly market in the state of California. As an organization in the San Diego area, we were thrilled to learn this news! The report analyzes the decisions of real estate investors, developers and occupiers. San Diego has fostered policies that help to attract these stakeholders and drive economic growth.

“It’s about fostering redevelopment to revitalize the city in a positive way through generating investor interest in development that makes economic sense and benefits the citizens with thoughtful community development,” Bob Hunt, managing director of public institutions at JLL, tells GlobeSt.com.

Civic San Diego, a city-run non-profit, is at the center of these policies. The non-profit was launched after the state dissolved redevelopment agencies. The organization helps real estate players with crucial aspects of the deal and development process to ease the burden of transacting in the market.

Civic San Diego has continued to expand, forming Civic San Diego Economic Growth and Neighborhood Investment Fund. These organizations certified the organization as a Community Development Entity.

Read More: https://www.globest.com/2021/01/20/san-diego-hailed-as-most-business-friendly-market-in-california/?utm_source=dlvr.it

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INSPIRE Your Employees with These Motivational Quotes

Picture this; It’s Monday morning, and your team is gathering together for the beginning of the weekly meeting. Your team is fresh off the weekend and may not be in the most energetic of moods.

So you, as the leader of your team, need to inspire your employees through a motivational message during this meeting to pick them up. It’s so important to have effective business communication within your organization and employees still hanging onto the weekend it hard to have that. Here is where inspirational quotes for work or inspirational videos come in handy to get your team in the right mentality and back into a goal-crushing machine.

Here are a list of motivational quotes that come from books, movies, songs, and more to inspire your employees! The Monday blues or not, you can add these quotes to emails, power-point presentations, meeting agendas, or through other communications platforms.

1.Whether you think you can, or you think you can’t – you’re right.Henry Ford

2. Becoming is better than being. —Carol Dweck, Mindset

3. I know not all that may be coming, but be it what it will, I’ll go to it laughing.Herman Melville, Moby Dick

4. Opportunity is missed by most people because it is dressed in overalls and looks like work.Thomas Edison

5. I’ve learned about the poetry and the wisdom and the grace that can be found in the words of people all around us when we simply take the time to listen.Dave Isay

6. It is by going down into the abyss that we recover the treasures of life. Where you stumble, there lies your treasure.Joseph Campbell

7. Follow your passion, stay true to yourself, never follow someone else’s path unless you’re in the woods and you’re lost and you see a path then by all means you should follow that.Ellen Degeneres

8. It’s easy to solve a problem that everyone sees, but it’s hard to solve a problem that almost no one sees.Tony Fadell

9. Learning never exhausts the mind.Leonardo Da Vinci

10. If you’re alive, you’re a creative person.Elizabeth Gilbert

Read More: https://snacknation.com/blog/motivational-quotes-for-employees/

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How to Begin Your CRE Job Search in this New Environment

With workers laid off in a myriad of industries, including commercial real estate, it must be incredibly difficult to begin a CRE job search now, right? There’s so much uncertainty in the markets and so many others competing for the same jobs. Where do you start? How can you strategically launch your job search during these tricky times?

Begin Your CRE Job Search Right

These are scary times. And it’s important not to jump into this half-baked. Maybe you were a happy analyst whose furlough never ended or a property manager looking for new opportunities. What was your state of mind before the pandemic news came? Were you looking to change career tracks or seek advancement in your current path?

This is the perfect time to get in touch with who you are and reflect on your future. Things have changed, and maybe you have, too. Don’t rush into this. Begin your CRE job search right by asking a few questions like:

  • Will my position still be in demand in this new environment?
  • Am I good at what I do and where can I bring the most value?
  • Do I enjoy this role? What am I passionate about?
  • What new opportunities have current events created?

Develop Your Brand

Once you’ve decided whether to stay in your current career field or go after a different side of the commercial real estate industry, it’s time to brand yourself. In a competitive market, getting hired at your dream firm doesn’t happen by accident. You must stand out from the crowd.

If you’re serious about developing a high-impact brand for yourself in this new job search, here are a few steps with which to start:

  • · Learn the key mission of each target employer
  • · Identify which of your skills best match that mission
  • · Craft a targeted branding statement that highlights this match

Learn New Skills

One of the best things to do when you begin your CRE job search is improving your skill set. The difference maker between you and the many other candidates is often the skills and certifications you have on your resume. Be sure not to underestimate the power of soft skills such as communication, leadership, and problem-solving.

Can you take a few classes right now in your down time? Can you update any outdated certifications? Perhaps take on larger roles in volunteer organizations? Closely follow the requirements in your target roles, and align your current strengths with those parameters.

Work with a Recruiter

If you are targeting a successful CRE company, chances are that firm already knows the importance of partnering with a search firm. They’ll likely prioritize candidates who have already been pre-screened by their search partner and interview those people first. Or in many cases, they will work on retainer, in which case, the recruiter is the gatekeeper.

Here at Building Careers, we actively nurture our relationships with numerous CRE professionals and leading CRE companies. We’ve been matching the right candidate to the right role for years. If you’re a good fit for the job you want, we will be a powerful advocate on your behalf. And if the fit just isn’t right, chances are, we’ll know of the best alternatives.

If you are one of the thousands of CRE professionals laid off or furloughed during the current crisis, don’t be nervous. You can begin your CRE job search right and stand out from the crowd. Let us know if we can help!

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10 Tips To Help Your Job Search

Discovering the right job prospects, and standing out in a competitive market, is hard. Luckily, there are plenty of tools and hacks out there that are built to help you find your dream job, more quickly and easily than ever. Here are 10 tips you’ve probably never heard about that can give your job search a serious boost.

Job Search tips

1. Create a Job Search Twitter Account

Every day, recruiters are tweeting jobs they need to interview candidates for—making Twitter a seriously untapped resource for job seekers. To make sure you’re in the know about these leads, create a Twitter job search list that includes recruiters, hiring managers, company hiring handles, and job search websites. Then, review their tweets daily for potential opportunities.

Learn more: https://www.themuse.com/advice/10-job-search-tricks-that-will-change-everything-youve-been-doing

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It’s Time To Change Jobs During The Coronavirus: Here’s Why


There is no way anyone could have predicted the worldwide impact of the COVID-19 pandemic on the 2020 workforce. More than 47 million Americans have filed for unemployment since March. Recent college graduates are struggling to find full-time work — or even to land an internship. Also, even employees who still have full-time jobs also have serious plans to exit their roles because of how taxing it is.

As daunting as it may be to look for a new job during a global crisis, there are still opportunities to be found for job hunters. Here are some reasons to change jobs during COVID-19.

Build Transferable Skills Through Online Classes

Did you enroll in a free online course during quarantine, like Yale University’s The Science of Well-Being? Great! You’re on the right track for reflecting on your career progression and even considering new directions you might pivot into moving forward.

Never Stop Connecting and Networking with Others

After several months of isolation in quarantine and lockdown, these people are eager to assist job seekers in need of help. Navigating how to network during a pandemic can seem daunting. However, if you’re not ready to go out and connect face-to-face, and instead of just settling for a phone call, set up video chats to actually see each other.

Find a Job Accountability Partner

Searching for a new job is a full-time job, regardless of the economic climate. You’ll need a job buddy to help support you. If you feel as if you might lose momentum or decide to stay with your current employer for the time being, that buddy will keep you motivated and encouraged to stay the course.

Read More: https://www.businessinsider.com/7-reasons-why-its-time-change-jobs-during-covid-coronavirus-2020-6

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The Right Time to Follow Up After an Interview and How

Jobseekers often have a hard time deciding the best way to follow up after an interview. Once it’s over, you’re instantly waiting for feedback. When you are eager to hear about a new opportunity, it can be frustrating to wait, but sometimes the interview process takes a lot longer than you’d like.

The employer has to interview all the suitable candidates, which might take a few weeks since this depends on the availability of both the applicants and everyone who will interview them. To keep your expectations in check, it’s always a good idea to ask the interviewer about their timeline for deciding on a candidate before you leave the interview room. This way you’ll know when it’s appropriate to follow up.

The Right Time for an Interview Follow Up

Your first step should be to send a thank you note to the interviewers (or the person scheduling your interviews) within two days of the interview. Only one in 20 candidates send a thank-you note after an interview, so taking the time to write one is a great opportunity to leave a positive impression on the interviewers.

I suggest sending it by email and keeping it brief — thank everyone who interviewed you for their time, re-emphasize your interest in the role, and express excitement about the next step in the recruitment process. You can also reference specific conversations that may have come up in the interview and use your thank you letter to highlight the ways your skills and experience are a good match for the position. Finally, if there’s something you forgot to mention during the interview, this is a great opportunity to bring it up.

If the company hasn’t told you anything about the next step, it’s best to wait at least a week before you follow up. If you are overeager, you risk annoying the recruiter or the hiring manager. However, if you’ve sent your thank-you note and the decision date the hiring manager indicated has come and gone, it’s time to follow up.

How to Follow Up After an Interview

For an interview following up, start with the person who said they’d be in touch with you. That could be the recruiter, recruiting coordinator, or the hiring manager. Email is definitely the best way to follow up without appearing pushy.

Here are a few pointers:

  • Address the person you are emailing by their first name
  • Mention the job title of the role you’re following up about and the date you interviewed to refresh their memory
  • Confirm that you’re still interested in the position and that you are eager to hear about next steps
  • Finally, ask for an update

Read More: https://www.livecareer.com/resources/interviews/prep/job-interview-follow-up

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How to Brand Yourself for Your CRE Dream Job

Do you have your eyes on the ideal CRE position, but don’t know how to brand yourself as the perfect fit? You might be wondering how to get the attention of the hiring manager or guarantee that your resume will win you an interview. Or perhaps you’ve applied to numerous companies and can’t seem to land an interview with the ones that matter.

What’s the secret? What does it take to position yourself for the commercial real estate job you want?

The Power of Personal Branding

As businesses already know, branding is a powerful tool for distinguishing your value from that of your competitors. It’s all about strategically associating key messaging with your name. Branding encompasses not only brand awareness – getting on the radar – but also brand value. Organizational branding in CRE is huge, but personal branding is just as powerful.

Each time a resume comes across a hiring manager’s desk, a first impression is made. Perhaps there isn’t enough information to make a positive impression, or perhaps the information is simply unimpressive. Either way, this is a missed opportunity for branding.

But when a hiring manager has enough relevant information to understand the value you can bring to the organization, your chances of landing that interview are much higher.

How to Brand Yourself for CRE:

First, determine what your ideal career path is and who you want to work for. Perhaps this is a re-brand for you, and you’re switching from the brokerage side to CRE investing. Or maybe you’ve been in the industry for some time but only recently became serious about future advancement. Now is the time to nail down exactly what you want and where you’d like to be in the next few years.

Next, identify the top three-five organizations you’d like to work for. Absorb everything you can about their company cultures, missions, values, and uniqueness in the market. Become a superfan. Network with anyone you can who currently works there or your local recruiting resource to make an introduction. Don’t overlook employees who aren’t in the C suite. Any connection is a potential key to the inside track.

Then, identify the key points of value you can bring to these companies. What attitudes, experiences, and training of yours uniquely meshes with their goals? If need be, update your certifications or take additional training. Then, craft a branding statement for your resume that speaks directly to each target organization (tailor this statement for each application). In a nutshell, tell the story of you and the future contributions you can make to directly impact the organization’s objectives.

Next, get serious about your digital footprint. Google yourself to ensure your online record accurately reflects your career focus. Curate and share quality content in your space. Build a community around this content. Share your successes and accomplishments. Update your LinkedIn profile to emphasize the key points of value you offer these companies. A professional headshot is a must.

Once You’re Ready, Go for It!

The last and most important step is to put yourself out there. You’ve taken the steps to brand yourself for your ideal CRE job. So, don’t hide your brand under the proverbial bushel. Start making some noise.

Sharing with others invites them to share with you. This is the essence of a vibrant and strong network of contacts. And in a healthy network, asking for referrals and reaching out to contacts in these target organizations is completely natural. Don’t be afraid to put yourself out there, tell your story, and ask for that interview!

With a strong plan in place and an emphasis on clearly connecting your value to their goals, you’ll successfully stand out in a crowded field of candidates. For additional help branding yourself for the CRE industry, get in touch with our career experts.

Locally in San Diego, Building Careers is working in conjunction with NAIOP to kick 2021 off with a personal branding Lunch & Learn, so be on the lookout for details!

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