How Commercial Real Estate Can Battle the Talent Deficit

How the commercial real estate sector can recruit talent.

Anyone who is involved in the commercial real estate industry has likely heard about the growing talent deficit.  Experts identify several reasons why this deficit exists, from millennial and Generation Z’s preference for start-up culture to the commercial real estate industry’s inability to effectively recruit young workers.  However, there are things that the industry can do to appeal to a younger generation of talent.  Your experts at California Commercial Realty Advisors weigh in.

  • Embrace Technology

With an influx of new technologies, such as artificial intelligence, the commercial real estate industry is in a period of transition.  The adoption of tech innovations has reimagined traditional roles in the sector, making them more appealing to younger workers.  As new technologies take care of the more repetitive and time-consuming tasks, leaders are free to focus on more complex and exciting ventures.  By adopting and implementing new technology, the commercial real estate industry can attract young talent that is looking for more involved and interesting work.

  • Highlight Diversity

Commercial real estate companies should also look to appeal to a more diverse talent base.  For instance, they should look to recruit women, minorities, and members of the LGBTQ community.  By increasing diversity, the industry can benefit from having multiple viewpoints and experiences to leverage.  Additionally, as the younger generations are much more concerned with supporting industries that celebrate equality and fair representation, a focus on diversity will make the commercial real estate industry a more attractive option for young talent.

  • Offering Incentives

Today, young workers are looking for benefits that extend beyond gym memberships and breakroom coffee machines.  With younger employees looking to increase their skill sets and make meaningful industry connections, the commercial real estate industry should offer more opportunities for career growth.  For instance, implementing mentorship programs and offering continuing education opportunities are great ways to appeal to an ambitious younger workforce.

These are some of the things that the commercial real estate sector can do to attract young talent.  Do you have additional questions regarding trends in the commercial or industrial real estate markets?  If so, then contact the experts at California Commercial Realty Advisors, Inc. for assistance today.

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