After a brisk 2013, the new year has found employees in the real estate sector emboldened by improving job prospects. Construction, especially, is expected to be the third biggest job creator among U.S. industry sectors, with the Bureau of Labor Statistics recently predicting annual job growth of 2.6 percent. In the out years, the BLS in December predicted 50.6 million job openings across the economy between 2012 and 2022. Unemployment remains at 7 percent, but improving conditions mean employers and job seekers alike should position themselves for a new hiring landscape in 2014.
On the Move
Job openings nationwide climbed to nearly 4 million in October, reaching levels not seen since the first months of the recession in 2008. The Labor Department also noted that more workers – 2.39 million that month – left their jobs voluntarily than in any period since October of 2008. That indicates a confidence on the part of employees that they can find more fulfilling or lucrative work. Those hunkered down in positions that offered stability during the recession but no longer meet their professional goals should keep a close eye on the career moves of their peers and managers. Opportunities could emerge in the coming months in the form of lateral openings at different companies and vacancies caused by managers taking the jump to more advanced positions.
Network Now
Even in a rising market for property values and skilled personnel, it’s important to make use of resources that have evolved since the last time real estate companies found themselves in tight competition for talent. LinkedIn, for example, grew its membership 38 percent, year over year, in the third quarter of 2013. With 259 million members globally, it’s become critical to maintain a presence on that network. Even if you’re not actively using social media to find leads, potential employers are.
At Christopher Frederick, we’re also taking the hiring process to a new level. We’ve built the fastest-growing digital network of any traditional recruiting firm, while staying true to the level of personal service we’ve provided our clients for decades. Our proprietary network reaches nearly 200,000 leaders in real estate. Unlike automated online services, though, we use this as a tool to reach the most qualified candidates before a personal, one-to-one approach to screening job finalists, all at no upfront cost to our clients. Call us any time if you’d like to learn more about how this approach can enhance your search for the leaders who make your business excel. Whatever your goals for 2014, keep your head up, look for new opportunities, and develop a strategy now to make the most of a recovering job market.
At Christopher Frederick, we’ve spent more than two decades helping some of the biggest names in real estate hire the talent that keeps them growing. Contact Chris Hingle at chingle@chrisfred.com. Or visit our website at www.chrisfred.com where you can find exclusive job listings for real estate executives.