Blog Archives - Page 23 of 52

CRE Firms: Recruitment Plans for 2022

Leave a Comment / Blog, Building Careers, Industry Insights

Pandemic-era disruptions have roiled the real estate industry, but when it comes to compensation, the impact on CRE firms has just begun to be felt.

With new leverage in an era of labor shortages and increasing concern about diversity, empowered workers have made it that much harder for firms and human resources departments to find and afford the talent they want, industry recruiters and researchers say. As a Deloitte CRE survey put it, “the tight labor market is bringing workforce issues to the forefront.”

Competitiveness explains part of the shift. Everyone, it seems, is hiring at the same time. Per CEL data, 66% of private firms and 58% of public firms are hiring, and 78% of all firms expect to have a net increase in headcount when the year is done. That’s a sharp rebound from 2020, when 1 in 4 firms implemented a hiring freeze.

“Salaries haven’t yet flattened out, but I am not sure how high they will go,” said Carly Glova, president of Building Careers, a commercial real estate talent firm. “Companies are slowly adjusting to the higher compensation packages, so there may be a continued adjustment period into 2022.”

Commercial real estate firms also stumble a bit when it comes to hiring young talent. CEL research finds that 48.3% of firms will likely change their talent management plans specifically to attract younger workers.

Building Careers’ Glova said that despite the potential awkwardness of making equity part of new compensation discussions, opportunities for equity are becoming more readily available and tied to specific deal metrics, becoming a more prominent part of the compensation package.

Remote working, and the ability to do so, has also factored into the industry’s wide-ranging talent search. Not that many senior positions and hires have problems with receiving or demanding remote work privileges, especially in tech-related roles, while junior roles have a higher bar to clear to earn a similar schedule.

Ultimately, the in-office issue is part of the larger, and immediate, need for talent in the industry, from life sciences to acquisitions managers. A worker shortage at a moment when the industry is pivoting and becoming more technologically complex means that experience is in even higher demand than usual.

“[Firms] are looking for people with specific skill sets that can ramp up quickly as most don’t have time to train entry-level people,” Glova said. “Candidates with more experience are more sought after.”

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The Rise of Digital Showcasing in Commercial Real Estate

Leave a Comment / Blog, Industry Insights

As demographics change in the commercial real estate market, so too should strategies and tactics for appealing to their diverse interests and needs. Trends in this highly competitive space are ever evolving, affording CRE professionals exciting new ways to connect with and service the growing need for quality commercial space.

Millennials Enter the Market

Your typical customer is getting younger. As millennials begin to dominate the workplace, they will increasingly be the decision makers in leasing or purchasing commercial properties for their businesses. They already comprise over half of the workforce, and they’re bringing key changes with them.

Some of these changes include:

A greater reliance on workplace technology and tech-driven practices like video conferencing, company mobile apps, and virtual events.
Teamwork and collaboration will be more valuable than before.
Flexibility will trump proximity, as the traditional office will likely take a backseat to more work-from-home options and work-life balance.

What is Digital Showcasing?

Your properties are unique and valuable. And you want to convey this to your prospective tenants. The problem is, your target customers aren’t walking around empty office spaces, taking in your property’s benefits and signing contracts on the spot.

So, where are they?

They’re online. They’re taking digital tours of properties that sound and look appealing online and imagining their business in that space. Digital showcasing capitalizes on this trend, making properties more accessible to them in a digital format.

Now, this goes beyond just setting up a detailed listing on a website. Digital showcasing commercial properties can extend from a high-resolution photo shoot of the space to AR/VR 3D interactive videos that place the prospect in a virtual recreation of the space.

In this recreation, they can view the room from different angles, from their own personal height, or rearrange office furniture within the space. Digital showcasing can also mean on-the-spot discussions via chat to nail down details, amenities, availability, etc.

Why Go Digital?

There are several important considerations regarding virtual or digital showcasing for CRE professionals and landlords. But keep in mind, in-person physical showcasing and walk throughs will never go away. The idea isn’t to do away with the usual way of doing things, but to add new options. This creates versatility as your customer base diversifies.

Wherever your customer may be, they can check in and view your property from the other side of the world.
Whatever time of day or night the need arises, digital showcased properties are available for them to tour at a moment’s notice.
Of course, virtual tours also reduce the need for in-person contact.
Especially for long-distance tenants, digital showcasing lessons the need for airline travel and the resulting environmental impact.
Virtual tours also provide unique insights to your CRE team as a powerful arm of your digital marketing; showcases can be A/B tested, patterns identified, and blockages addressed.
As reliance on workplace tech increases with millennial involvement, virtual tours put you in front of a larger segment of potential business.

Of course, embracing new modes of marketing may not come easy. Understanding the technical ins and outs as well as the younger customer base may not be something your team is already good at.

For this reason, it can be especially helpful to add digital skills to your list of trainings for employees or to your list of questions for interviews for a new hire. But the payoff for those who invest in this new and rising trend is there for those willing to try it.

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What You NEED to do if You are Laid-Off or Fired

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What do you do when you have been laid-off or fired? When you get the unfortunate news that you have lost your job, there are some very important and necessary tasks to tackle. First of all, don’t panic.

Take it step-by-step so you can take care of the basics. This will ensure that you receive your final paycheck, benefits and pension funds, unemployment compensation if you’re eligible, severance pay if your employer provides it, and more.

You also want to make sure you get references from your employer, if possible, so that you are ready to begin your job search. Once you’ve taken care of these matters, you can then prepare to start a job search.

Follow this list to make sure that you have dealt with everything you need to when you’ve been fired or laid off. This will allow you to begin to focus on finding a new job.

How to Handle a Termination

When you’re terminated from employment, it makes a difference whether you are laid-off or fired for cause. If you have been downsized or laid-off for lack of work or any other reason, you’ll be entitled to different benefits than if you were fired.

Severance Pay

Severance pay (as well as severance benefits) may be given to employees upon termination of employment. It is usually based on length of employment. If you are laid off from your job or your position is eliminated, the employer may provide severance pay, but this isn’t required.

The Final Paycheck

Before you leave your job, make certain you know when you are receiving your last paycheck, and how it will be delivered to you. In some states, employers are required to pay it immediately. In others, there may be a lag.

You may be entitled to accrued vacation, sick leave, overtime, or back pay when you lose your job.

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7 Signs You’re a Workaholic

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Workaholic: Sure, it’s a buzzword in corporate America, but it’s not just a trendy word or a go-getter attitude. It’s an addiction that can seriously affect both your personal and professional life.

If you think you may be a workaholic, there’s no shame here—but let’s take a closer look at what that means and how to overcome it so you can get healthy and start truly enjoying your job.

What Is a Workaholic?

A workaholic is someone who feels a compulsion, or an irresistible urge, to work whether they want to or not. It’s not the same as really loving your work, and it’s not the same as being overworked—it’s a legitimate addiction.

When you’re overworked, the problem comes from an outside source (in most cases). For example, your boss might be demanding and putting pressure on you to work overtime, or you might be trying to complete a difficult project with a tight deadline. Being overworked can sometimes go hand in hand with workaholism, but workaholism can also exist in very healthy work environments. Being a workaholic is more about your personal work habits and motivations.

Signs You’re a Workaholic

If any of this is starting to sound like I’m reading your mail, but you’re still not sure if you meet the criteria, here are some more signs that can help you figure it out.

Constantly Working Vs. Spending Time Elsewhere

There are 168 hours in a week, and a full-time job should take up about 40 of them, more or less. That’s only about 24% of your week! If your work percentage is way more than that—and you’re saying no to other things like important events, sleep, errands or time with your family so you can get more work done—there may be a problem.

Work is Brought Home

“I’ll just finish a few things at home” can easily turn into another three hours of work in your home office after dinner. I get it, folks. There might be some times throughout your career when you really need to hustle and get your project done. But it shouldn’t become a habit.

And these days, it’s easier than ever to constantly check your email and work messages from your phone and not be fully present (even if you’re trying to do something fun), so the habit becomes even harder to break.

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DEI in the Workplace: What is it and Why Does it Matter?

What is Diversity?

Diversity is the presence of differences within a given setting. In the workplace, that can mean differences in race, ethnicity, gender, gender identity, sexual orientation, age and socioeconomic class. It can also refer to differences in physical ability, veteran status, whether or not you have kids — all of those are components of diversity.

When we think of diversity in the workplace, we often think of physical, visible differences. However, it’s important to be mindful of diversity of thought and the important role it plays.

Why Diversity Matters

“From a business standpoint, different perspectives directly influence a product — how it’s made, who it serves, how it functions and so on,” says Colman. “More perspectives make for a better product.” People from different backgrounds with varying life experiences will be able to provide new perspectives that help refine and enhance processes.

Colman points out, “If we have diverse voices in the room driving the change that companies are working towards, and we’re giving every individual the opportunity to be challenged, who’s to say what we can’t achieve?”

“There’s a level of innovation that diversity contributes to,” adds Colman. “People bring a unique framework to the job that enables them to approach problems differently and propose unique solutions. The more diverse voices there are in your organization, the better your outcomes will be, purely from a business standpoint.”

However, Colman urges employers to look beyond the business case. “I believe that if we give people the equitable opportunity to not only be employed, but to have employment with purpose and passion, our society can and will do great things. It’s a measurable good for everyone.

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3 Soft Skills You Need to Land a Remote Job

Leave a Comment / Ask An Expert, Blog, Job Search

The pandemic has permanently changed the professional culture. While many companies offered some flexibility and remote work options before the COVID-19 crisis, the pandemic accelerated that trend.

What that means for employees, job seekers, and soon-to-be grads is that remote work skills are key abilities to master. Here are three soft skills you need to land a remote job.

Soft Skill #1: Improve Self-Management Abilities

Even if you have an excellent manager directing your big picture moves, you must be organized and self-directed to be a strategic remote operator. That means procuring the supplies, tools, resources, and work environment that it takes to feel comfortable and focused.

If you want to land a remote job, it’s on you to make the arrangement work-troubleshooting challenges and manage them deftly so they don’t interfere with your ability to produce. Making this work means navigating the unique challenges to the arrangement and managing those as they surface.

Soft Skill #2: Expand Your Communication Skills

When you’re a remote employee, communicating clearly, concisely, and comprehensively is a “must-have.” Part of this awareness understands when a written message will get the job done and when you need to grab the phone and talk something, through.

When you are preparing written correspondence, recognize that those grammar rules that our high school teachers emphasized are not just an exercise in fussiness. They’re all about clarity. They show your reader how to make sense of the ideas you’re shaping.

Because remote operators rely so heavily on written correspondences, it pays to take a refresher course so that you can communicate with confidence. Grammarly and Grammar girl are a couple of helpful resources. Land that remote job and go the extra step in investing in on of the platforms.

Soft Skill #3: Be a Self-Advocate

When you telecommute, and the rest of your team is in the office, sometimes you can feel less visible than your colleagues, even when you’re doing great work. It’s on you to make yourself, and your needs are known. Working remotely benefits both you and your employer, so you don’t have to feel sheepish about your set-up. Expect to be treated just like any other employee.

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20 Ways to Be a Good Leader

Leave a Comment / Blog, Set Yourself Up For Success

Leadership isn’t for the faint of heart. It takes grit, hard work and passion, plus a lot of people skills. And it’s not about money or control, which is what way too many bosses get wrong in corporate America. In fact, it’s not even about the title—some of the best leaders aren’t in management. So, how can you learn how to be a good leader? Here is a list of ways you can be a good leader at your company.

1. Show Affection to Your Team

Your team members aren’t sales numbers or cogs in a machine. They’re people who have hopes, dreams, fears and struggles. Every single person deserves to be treated with respect, dignity and kindness. By doing this, you will create an incredible company culture where people care about each other and look forward to coming to work.

2. Provide Praise

Start making a habit of catching people doing something right—and let them know about it. A sincere compliment or acknowledgement of their hard work will go a long way to boost their morale.

A recommendation to get in the habit of this is each week, walk around your company and find a team member doing something great. Or take a few minutes and handwrite a personal note to someone on your team who’s been killing it week after week. While you’re at it, why not recognize them in front of their peers? It’ll make their day.

3. Be A Leader, Not A Boss

A boss has an iron grip on the team, expecting every team member to immediately jump at their command. Workers know the boss holds all the cards and will make sure mandates are followed. Disobey and you could be gone in an instant.

But where a good leader goes, people follow—not out of obligation, but out of genuine desire. Don’t boss people around or try to scare them by making threats. Instead, be transparent and explain why you do what you do. When people know the why behind your decisions, they’re more likely to understand and follow your example.

4. A Good Leader Trusts and is Trustworthy

Leaders should have the full trust of their team—but in order to get it, you need to behave in a trustworthy way too. You want your team to know you have their back and will support them no matter what. So follow through on your promises and mean what you say. Be a trustworthy leader they can count on. And if you feel like you can’t trust someone, don’t hire them to be on your team to begin with. Only hire team members you know will get the work done with honesty and integrity.

Another way to build trust is by being authentic. Don’t be afraid to be a genuine person—one who’s transparent about their strengths and weaknesses. Having regular one-on-one meetings with your team members and talking openly and honestly with them is a great way to create a strong, trusting connection.

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A Guide to Job Hunting While You’re Still Employed

1. Explore Options Where You Are

A big thing you want to consider first is why you’re thinking of leaving, and explore options for improving your situation where you are. Doing so will depend on the level of trust that exists between you and your manager; don’t go overboard and start telling everyone at the office.

Think about what’s frustrating you at your current job and consider whether or not some changes could make things better. Would remote work or a few days of telecommuting improve your outlook? Could you move to a different department? What can you do to make your current work situation more enjoyable and rewarding? If the answer is no, or if changes aren’t an option, it’s okay to start looking elsewhere.

2. Consider Being a Boomerang Employee

If you left a previous job on good terms, it’s worth getting in touch with former coworkers to see whether there are new opportunities available. You won’t need as much time for onboarding, are already familiar with the company’s technology and culture and can often contribute much more quickly.

It’s also possible to “boomerang” with companies that didn’t hire you. If you’d interviewed with an organization in the past, or received an offer and turned it down, it’s worth revisiting those connections.

3. The Right Timing of Job Hunting

If you’re trying to land a job while you’re still employed, you need to minimize the competition for available roles; that means getting the timing of your search exactly right. Towards the end of summer is a prime time to start your search.

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Bored at Work? Here’s Why!

Leave a Comment / Blog, Set Yourself Up For Success

Picture this. Monday morning arrives and you hit snooze on your alarm repeatedly. You feel sluggish and exhausted before you even get out of bed. Everything feels like a battle as you try to get ready for work. Then, when you get there, you’re so bored at work you don’t know what to do.

Does this sound familiar? Well, it’s likely that you’re here because you’re looking for solutions to this energy-sapping problem. In this article we’re going to take a deep dive into the reasons why you might be bored at work.

Why Do I Get Bored At Work?

While boredom is a common feeling it should not be ignored. Rather like the tip of the iceberg, it can be symptomatic of a deeper or more complex problem especially if it happens on a regular basis. Boredom occurs if a person is unsatisfied, unfulfilled or disinterested in something. Additionally, the feelings can arise when you feel full of energy but have no avenue through which to channel it, so you end up feeling frustrated and angry. Being bored often affects our behavior negatively and we end up becoming engaged in behaviors that are detrimental our wellbeing such as overeating or being argumentative.

So Why Am I Bored At Work?

There are several reasons why you feel bored at work:

1. A Lack of Mental Stimulation

You need to feel mentally stimulated. Not only is it important for your mental health and the maintenance of your cognitive functioning as you grow older, mental stimulation staves off boredom.

Do you have enough to do at work or do you find yourself pushing paper round your desk? Of course, you need a healthy work-life balance and you need to take regular breaks at work but when you have too much free time on your hands you begin to daydream. This can affect your sense of self-worth as you then take note of the fact that this is not a good use of your time. This can make you feel frustrated.

Maybe you have enough work, but are you being stretched? Do you regularly step outside of your comfort zone? Are you growing and developing? It’s important to feel that you are using are abilities fully and that you are being challenged regularly. When this doesn’t happen, you can become lazy and bored. Furthermore, you can find yourself struggling with motivation and, eventually, self-worth.

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Best Practices to Mitigate Ghosting in Your Organization

Leave a Comment / Blog, Employers, Industry Insights, Set Yourself Up For Success

What started as an annoyance in the hiring process has now become a major problem for employers. Each year, the number of dropped connections increases 10-20%! So, how do you mitigate ghosting among your applicants and new hires?

Ghosting in the Workplace

After the 2008 Great Recession, employers were flooded with applications and only responded to the ones they were most interested in. Thus began the practice of ghosting in the workplace. Job applicants had no way of knowing if there was a problem with their application or if the role had already been filled. They only knew they weren’t getting any feedback.

Now, it’s a candidate’s market. Unemployment is at historic lows, and the shoe is on the other foot. Applicants routinely fall off the face of the earth – and even new hires don’t show up for work or drop out in the first few days.

Many of these ghosters are young and just don’t understand how rude it is to abandon the interview process without notifying the company. They don’t understand that this behavior will cause long-term consequences for their careers. Nevertheless, you’ve still got to deal with the reality of unfilled positions and the damage ghosting can cause your organization.

Fortunately, there are best practices and strategies you can employ to mitigate ghosting and reduce the havoc you face in hiring and retention. Here are some of the best tips to incorporate in your CRE organization to keep applicants and new hires engaged, responsive, and committed.

5 Tactics to Mitigate Ghosting

1. Don’t Ghost

It’s called the Golden Rule. If you don’t want applicants to disappear on you, don’t allow this behavior from your hiring managers. Follow up with everyone to build a culture of communication.

2. Exit Interviews

If a new hire fails to show up on Day 1 or leaves at some other point during their employment unexplained, reach out! While they may not respond, asking for an exit interview to let them air their grievances may provide valuable information for future risk mitigation.

3. Shorten Hiring Times

Long periods of time between the interview and job offer allow applicants to lose interest or respond to other opportunities. Working with a professional headhunter in the CRE industry will help you lesson this time period and snatch up top talent quickly while they’re still hot.

4. Get Onboarding Right

Approximately 20% of employee turnover occurs in the first six weeks due to poor onboarding. Don’t just sit your new hire at a desk with a stack of forms to fill out on Day 1. Perfect your hands-on onboarding process to ensure your new hire feels engaged, valued, and part of the mission from the start.

5. Do Your Homework

To mitigate ghosting in your hiring process, do your due diligence to find out if candidates have ever ghosted before. Search Glassdoor and LinkedIn for signs of ghosting in the past. If need be, weed out questionable candidates from your short list.

Remember, you cannot completely prevent ghosting. It’s becoming more and more common in the workplace and hiring process. However, following these critical steps can help minimize exposure and disruption. For a minimal investment, your organization can sidestep much of this problem and maximize engagement for those seeking to join your team

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