Where Are All the Candidates?
These past couple months have been busier than ever with client inquiries and we have been steadily working to fill our requisitions. While we have been finding and interviewing great real estate candidates, there have been many occasions where we then see those candidates drop out at the last minute or get scooped up by another employer. It leaves us wondering: what’s going on?
Every summer, we see a lull in active candidates. As none of us have been unable to do much due to the pandemic, everyone is outside enjoying the beautiful weather and that lull is even more pronounced.
That said, we normally go through 100 or so candidates before interviewing and finding the few who are worthy of passing over to our real estate clients to interview but lately we have been going through double that number. It leaves us wondering where the shift is. The pandemic has changed us all. As everyone stayed at home for most of last year and the beginning of this one, it occurs to us how disconnected many have become. Working long hours and in a career that doesn’t bring joy is no longer something that some are willing to do. It has shifted the mindset to realize the importance of loving what you do.
How can the real estate industry adapt to this mindset? We need to adjust the way our industry is currently set up. We are often asked about work from home options. In most cases, it’s not about wanting to be away from an office so much as about creating a balance that has been lacking for so long. Working from home has been a blessing for those of us who were fortunate enough to do so. The real estate industry should take a look at how they can adapt to allow more of this. There are so many people with children at home, and parents need to be there with them in lieu of the expensive childcare that is unattainable for some. A lot of the tasks can be done from home and the industry would benefit from adapting.
On the other hand, real estate has been on fire this year. Thanks to lockdowns and travel restrictions, we are noticing that many people are opting to invest in their homes since that is where they are spending the majority of their time. We have seen the influx of need for assistants and administration staff yet fewer candidates available. The industry has always been competitive, but now we are seeing the pressure from an administrative side. Good candidates need to be seen and interviewed quickly in order to secure the hire.
The real estate industry needs to get with the times to attract the kind of employees they are looking for. Candidates want benefits and work/life balance, which are typically hard to come by. Investing in benefits for your employees is an inexpensive way to attract and value your employees. Understanding that they need to rest and recharge after hectic days will go a long way in keeping them productive and happy in their roles.