The evolution of the property job market

Whether you’re looking for your next role or looking for someone to join your team, recruitment is never easy. There is a multitude of factors, all contributing to the individual decisions each party makes…and so they should, but it can make the process difficult.

There is nothing worse than being in a job that isn’t right for you or having a new member of your team that isn’t right for the organisation. Recruitment has had to evolve in line with this, when you add in social factors and the evolution of industry skills (languages become a key requirement in many instances), among other factors, it’s important to get recruitment right, and right first time.

The London property industry is forever evolving, and consultants have a core responsibility to understand entirely the companies they partner with to make sure they find and approach the right candidates.

Divergent Evolution – occurring when new habits, traits or strategies are developed. Each year, the political and economic climate brings new changes forcing organisations to adapt and develop new strategies in response. A prime example was in 2014 when Ric Clark took Brookfield Property Group into new sectors and territories. Brookfield Property Group has undergone a transformation, moving from a portfolio solely focused on office buildings in New York, London, Sydney and Toronto, into one that is also a major owner and operator of global shopping centres, industrial warehouses and apartments.

Prediction and reaction

It is key for consultants in recruitment to understand their candidates and the companies they work with. The understanding of the ever-changing strategies and organisational direction is the dictating factor for all the pieces to fit together, for both candidates and clients alike.

Another form of evolution is Convergent Evolution; when organisations in the same ring evolve similar traits despite being of different natures. Seen in Europe and to a lesser extent, the Americas, many firms with significant real estate holdings are addressing regulatory and compliance issues. Whilst also trying to keep up with evolving requirements, related to innovation and sustainability; real estate fund managers were left with new regulations demanding solutions. Closer to home, the demand from the government for affordable housing is pushing large organisations, such as Quintain, and smaller organisations, such as SAV group, to push forward with PRS homes, in the same manner, conducting much of their work in a similar way but on very different scales.

Supply and demand

For this type of evolution, Consultants in the recruitment world have to understand the new regulations and industry changes in order to service their clients effectively and efficiently. Something that is overlooked at times but potentially the most important part of being a consultant as this is the key to fully understanding the new skill sets desired or new teams beginning to grow.

Recruitment is never straightforward, I can testify to this, however, when it’s done right both clients and candidates will benefit from the business being done well. It’s the ability to understand the individual evolving organisation and ever-changing industry we are within. There isn’t a right way to evolve, as the reasons behind changes differ, but the journey needs to be considered in order to reach the required result.