It is no secret that many industries across the U.S. are experiencing labor shortages. These shortages are further exacerbated by the ongoing “Great Resignation.” In August 2021 alone, a record 4.3 million Americans quit their jobs, according to the U.S. Department of Labor.
In commercial real estate, shortages are being witnessed in construction, property management and other subsectors. This has been a serious challenge for employers across the industry.
Commercial mortgage companies looking to fill vacant positions — particularly for midlevel and upper-level management roles — should utilize creative solutions to recruit talent. Here are some tips when hiring across all types of debt-market positions.
A candidate’s market
The first thing to understand is that prospective employees in commercial real estate finance are in the driver’s seat in today’s market. Talent that matches specific skill sets will cost employers more than ever before. According to labor statistics from this past August, there were 8.4 million people actively looking for work in contrast to 10 million job openings. This significant disparity also applies to hiring within mortgage companies.
Positive company culture
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