It’s no secret that the real estate management profession is aging more quickly than other occupations. You are probably seeing that in your own organization and have realized how imperative it is to the future of your company and the industry to attract and retain young talent.
In this ever changing world, companies need to re-evaluate the tactics and strategies they use to attract and retain top talent. Start by understanding what candidates, your co-workers, and your direct reports want from a job, career, and a company. One of the top things employees want are professional development opportunities and challenging work. In a recent report, CORFAC International found that young people are adding tremendous value to real estate firms with proactive career development programs. If they don’t get it from their current employer, they will jump to another one to grow and develop. So the question for you and your company is, “Do you want them to stay, grow, and develop with you and your company?” The answer most likely is “Yes!” It costs more to recruit and onboard new employees than it does to develop existing ones.
IREM understands the importance of professional development. One of the best practices identified in IREM’s publication Best Practices: Real Estate Management Service provides that “real estate management is a dynamic business that depends on the expertise and skills of its employees. Only through ongoing education and training of its staff can a management company maintain its competitiveness by increasing competency levels and eliminating deficiencies and provide a high level of professionalism for the staff. Additionally, providing opportunities to acquire education and earn professional credentials helps employees grow in their jobs and within the industry and encourages loyalty and productivity.”
To support that best practice and help companies like yours attract and retain top talent, IREM has a vast catalogue of courses, including the new Managing Commercial Properties course targeted at developing people new to the industry or staff looking to grow and develop in the field. This highly interactive online course takes the student through the various aspects of commercial property management, applying knowledge concepts right away by engaging in the decision-making process for a variety of property types, including office buildings, shopping centers, and industrial properties.
Your company doesn’t manage commercial properties? Then, Managing Residential Properties is the course for your staff looking for professional development in residential property management.
Originally published in IREM Real Estate Management News