Industry leaders have been adapting to global economic uncertainty by diversifying sources of revenue, pursuing digital strategies and focusing on tenant experience. New skills are required to navigate a rapidly changing landscape. Attracting talent from a wider and more diverse talent pool continues to be a major challenge.
As digital solutions gain momentum, technology is reshaping commercial real estate. New innovations are becoming increasingly necessary in order to adapt to shifts in the market, exceed investor expectations and boost firm efficiencies. This means tapping into new talent pools and building value propositions that can compete with the likes of Silicon Valley employers.
The lack of diversity in the real estate sector poses the biggest challenge for HR Directors and business leaders. The requirement for professional qualifications in many key roles also exacerbates the issue, narrowing the available talent pool further. The most forward thinking leaders are examining leadership succession in detail, engaging with key talent in the sector, and also broadening those conversations to include talented, and often diverse candidates in related sectors.