Across the board, this year has been the busiest in the 12-year history of RETS. Our clients, whether publicly traded or privately held, have aggressively hired to fill open and newly created positions. Through Q3.13, RETS has overseen 344 searches, which represent a 20 percent increase compared to the same period in 2012. In September alone, we conducted 50 new searches, our highest number for a single month ever! In response to tremendous growth in search volume in the Pacific Northwest, we established a beachhead in Bellevue, WA to serve clients in the region.
There has been ongoing strong demand for interim recruiting. Total hours billed through Q3.13 is 33 percent higher compared to the same period in 2012. The property management segment continues to be the highest demand for interim recruiting as a direct result of the increase in acquisition/disposition activities in the market. Clients have turned to interim recruiting to handle just-in-time delivery of talented professionals to fill positions for three to six month periods. “Since March, we’ve seen a dramatic rise in the number of interim recruiting searches, as the economy continues to improve,” says Kent Elliot, a principal/partner of RETS Associates.
DIRECT AND EXECUTIVE RECRUITING
Hiring demand remains very strong with many client segments, including public and private REITs, and well-capitalized private firms. In the higher risk/reward positions (acquisitions, development, leasing and executive levels), employed candidates who have been with their respective company for several years tend to be well compensated and are likely to stay in their current position. As a result, clients that want to hire this type of candidate now must be aggressive and make an upfront offer to woo these prospects away from their current employer. “We have seen a distinct change in candidates’ core values in the past year. A year ago, most candidates valued the ability to grow within a company when considering an opportunity,” says Jana Turner, a principal/partner of RETS Associates. “This year, we’ve noticed that candidates put compensation above anything else when considering a new role. As candidates receive more opportunities, they can selectively choose what they want, and – sometimes – that means holding off if the offer does not impress.”
1. A run on financial analysts – RETS has handled 50 financial analyst searches during the past 12 months.
2. Strong demand for high-level accounting/finance roles with specific profiles (Big 4, CPA and real estate industry experience).
3. Clients continue to hire in the Pacific Northwest.