2018 saw several new recruitment tactics introduced, adopted and implemented in the real estate industry. And many of these modern methods will shape the hiring process in 2019.
We’ve analysed some of the main new tactics and technologies. Some are fleeting trends soon to be forgotten but others may be worth implementing. The following 6 recruiting trends are the methods we believe will continue into 2019.
- Go mobile
Google announced they were focussing on mobile-first indexing last year. This is an update worth recognising, as up till recently, search engine optimization (SEO) may not have been a top priority of recruiters.
Google made these changes for two reasons:
- To benefit the user’s experience.
- To accommodate the user’s habits
Today, increasingly more candidates are conducting their job search on a mobile device. But that doesn’t mean the real estate industry is following suit. Although mobile platforms have been around for some time, some internal recruiters haven’t adopted this change.
Many candidates we work with say they use mobile to hunt for jobs at least once a day. And it is well-known that the majority of job seekers use mobile platforms for job search. Today, 16% of all applications are submitted via mobile. To be effective, real estate firms’ recruiting strategy should allow candidates to easily interact on a mobile device.
- The end of the CV?
Speaking of applications, the future is signalling the end of the paper resume. Some of our clients are placing more importance on “softer” skills. Beyond the traditional paper CV, social media profiles such as Instagram, Facebook and Twitter and video applications such as those on YouTube can more accurately demonstrate a first impression.
For the company recruiting, this means keeping up with trends and being able to accommodate these technologies.
For job seekers, this means this means developing an integrated personal brand through social media profiles, digital portfolios, and even a personal website (if appropriate for the position).
- Attractiveness of Online Profiles
In the candidate-short market we are in, it is essential for clients wanting to fill those hard-to-fill roles that they portray an appealing environment. Social media is used to demonstrate corporate culture. Research shows that 79% of candidates review social profiles during their job search.
The reality of working for your company should be accurately portrayed across your social media. Strengthening your employer brand should be a top priority if you are keen to attract top talent. Your website, social media, and online reviews should provide an accurate depiction of the company culture.
- Artificial intelligence: here to stay
Artificial Intelligence is a trend affecting almost every area of the real estate industry including in-store shopping experiences, agents searching for office space and last-mile delivery advancements in the industrial sector; the job market is no different. In 2017, 66% of office employees requested the assistance of AI to accomplish their daily work according to research undertaken by Adobe.
This technology will impact the roles HR departments need to fill. Working with the assistance of AI will change the skills required of candidates and existing employees. This trend is set to continue as AI takes an increasingly centre stage in real estate firms.
- Consider flexible working arrangements
The “gig economy” has impacted the real estate job market in multiple ways. We are finding that more candidates are requesting flexible working conditions, and this trend is changing their expectations when looking for new roles.
Candidates we work with often say they would pursue contract work if given the opportunity. This can be attributed to the many perceived benefits of such roles such as working from home. Virtually every workplace survey conducted in recent years says flexibility is important to millennials. One recent survey found that 68% of recent graduates said the ability to work remotely at least some of the time would affect their likelihood to accept a position; another report stated that 74% of millennials expect flexible schedules in the workplace; the Centre for Generational Kinetics found that 73% of the “Best Places to Work for Millennials” offer flexible working arrangements or shorter workweeks as a standard practice. There even more research undertaken in 2018 which highlights this growing trend further. We are finding this need is permeating through all levels from Newly Qualitied Surveyors through to Directors/Partners as increasing numbers of senior level candidates expect new roles to offer flexible working environments. Some of our larger clients are also beginning to offer schemes for mothers returning to work on a fully-flexible basis.
We don’t anticipate the entire workforce to quit their traditional jobs for contract work. But the popularization of these non-traditional roles has changed employee expectations.
- Talent Relationship Management: Friend or Foe?
Within the competitive job market we are in, Talent Relationship Management (TRM) has become an increasingly important recruiting tool. Many HR departments overlook the importance of cultivating the existing relationships within the organization in order to attract new talent, focussing instead on attracting external candidates.
Recent research by Deloitte showed that 40% of companies’ best candidates were found internally. One study showed that utilizing TRM resulted in a 4% higher offer acceptance rate. Candidate Relationship Management (CRM) shouldn’t be overlooked. Rather, it should be implemented alongside TRM in order to recruit the best candidate.
In order for real estate firms to source the best talent in 2019, modern recruitment methods need to be deployed. Simply posting a job to job boards and waiting for CVs to flow in may not work anymore. Today’s tough job market requires a much more proactive approach from both recruiters and candidates.
We appreciate that smaller real estate companies may not be able to adopt all of these aspects into their recruitment processes. But hopefully this article has made you aware of the growing trends. If your company were to identify weaknesses in current recruiting methods, where would the gaps be? Would you be willing to implement needed changes? Partnering with an experienced recruitment or executive search firm can help navigate the changing landscape of today’s recruitment market. Don’t get left behind; the race to secure top real estate talent is real and this year will require even more modern and creative ways of sourcing candidates.
- What about you? Where do you think the trends in recruitment this year will be? What has been your experience in sourcing hard-to-find candidates? We would love to hear your thoughts.
Winberg Associates is a boutique recruitment and executive search firm specialising in the commercial real estate sector. We help clients fill contingent and retained mandates from mid to senior level appointments and can also help with salary and benchmarking surveys to support your business planning, personnel appraisals and pay reviews.
Call 0207 993 8303 or email firstname.lastname@example.org for more information.