New Research from RETS Associates Indicates Key Employee Benefits and Perks to Recruit and Retain Top Talent; Growth Opportunities and Work Culture Ranked Closely Behind Compensation and Location NEWPORT…
What has become readily apparent in 2013 in the primary real estate markets on the West Coast is… the candidate is in control! The switch from the employer holding the majority of the negotiation leverage to the candidate holding the leverage began early this year. Employers beware – you will need to be aggressive in your negotiations with candidates. RETS handled 110 searches in Q1.13 – this is the highest number in the 12-year history of the firm – representing a 24% increase in searches handled to Q1.12. The pace of new searches in April and May 2013 followed at the same level as Q1.13.
The available pool of candidates interested in interim positions continues to dwindle as talented, unemployed professionals are re-hired. The demand drivers for interim recruiting are: 1) due diligence needs for acquisition/disposition activity; 2) companies with open positions that they are unable to fill in a timely basis; and 3) employers faced with employees having short to medium term medical conditions. “The RETS team is operating at an all-time high YTD 2013 in terms of interim recruiting. Now is a great time for professionals who would like to do interim/consulting work. For employers, you need a recruiting firm to reach this limited group of talented professionals,” says Kent Elliott, a principal/partner of RETS Associates.
With recruiting assignments now flowing steadily, many executive search firms serving the real estate sector are looking to expand.
In the years following the market crash, recruiters suffered from lackluster demand for professional searches. Even as the real estate industry began to recover, the large number of unemployed professionals made it easy for companies to find talent without enlisting search firms.