After a temporary slowdown in 2020, the real estate job market is back on track, experiencing a significant upswing in recruitment in April 2023. The Naukri JobSpeak Index reveals that the real estate sector led the way among non-technology industries, with a remarkable 21 percent increase in hiring compared to the same month the previous year.
Luxury realtor and social media content creator, Snehil Yadav says, “This growth can be attributed to the surge in residential and commercial property launches in major metropolitan areas, resulting in a demand for key roles such as Tender Managers, Construction Engineers, and Civil Engineers.”
Recruitment Surge in job market
The real estate job market has witnessed significant growth in key metropolitan areas, with Kolkata, Pune, and Hyderabad emerging as the frontrunners. These cities have experienced remarkable recruitment surges of 28 percent, 22 percent, and 19 percent, respectively, showcasing the rising demand for skilled professionals in the sector.
The thriving real estate markets in these metropolitan areas have fueled the need for talent across various roles and functions. From project management to sales and marketing, there is a growing requirement for experienced individuals who can contribute to the success of real estate projects.
Furthermore, the demand for senior professionals with over 16 years of experience is particularly noteworthy. This indicates that companies in the real estate sector value seasoned talent who bring a wealth of knowledge and expertise to the table. These experienced professionals play a crucial role in guiding and overseeing complex projects, ensuring their successful execution.
To meet the increasing demand for skilled professionals, companies in Kolkata, Pune, and Hyderabad are actively engaging in recruitment drives and talent acquisition strategies. They are seeking candidates with a strong track record in the real estate industry and a deep understanding of the local market dynamics.
The growth in these metropolitan areas can be attributed to various factors, including urbanization, infrastructure development, and increased investment in residential and commercial properties. As the real estate sector expands and evolves, the need for top talent becomes even more critical. Companies are keen on attracting professionals who not only possess the necessary technical skills but also have a thorough understanding of the local market trends and customer preferences.
By focusing on recruitment and talent acquisition in these key metropolitan areas, companies are positioning themselves to capitalize on the booming real estate job market and meet the evolving needs of customers and investors alike.
Importance of Seasoned Professionals
The preference for senior professionals with over 16 years of experience in the real estate sector signifies the industry’s recognition of the value they bring to the table. These seasoned professionals have honed their skills and knowledge through years of hands-on experience, making them indispensable assets to companies operating in the real estate market job market.
With their deep understanding of the industry, senior professionals can provide strategic insights and guidance to navigate the complexities of real estate projects. They possess a wealth of knowledge in areas such as project management, regulatory compliance, risk assessment, and stakeholder management. Their expertise ensures efficient project execution, minimizing delays and maximizing profitability.
Moreover, senior professionals often have well-established networks and relationships within the industry, which can be leveraged for business development and forging partnerships. Their experience and reputation help build trust among stakeholders, including investors, clients, and government authorities.
In addition, seasoned professionals bring a level of stability and mentorship to the organization. Their presence and leadership contribute to a positive work culture, where younger professionals can learn and grow under their guidance. This knowledge transfer fosters the development of the next generation of real estate leaders.
In a rapidly evolving and competitive industry like real estate, the demand for experienced professionals will continue to remain high. Companies recognize the invaluable contribution that these individuals make in driving business growth, ensuring project success, and maintaining a competitive edge in the job market.
Talent Retention Strategies
Companies operating in the real estate sector are adopting various strategies to retain their top performers and safeguard their talent pool. Godrej Properties, a subsidiary of Godrej Industries, is actively focusing on compensation and launching multiple capability programs to support the functional and leadership development of its employees. Megha Goel, CHRO of Godrej Properties, asserts that these efforts have resulted in a recent reduction in attrition.
The ANAROCK Group has taken a proactive approach to support its top talent by enabling them to pursue leadership programs from renowned institutions such as the Indian Institutes of Management (IIM) and the Indian School of Business. These programs cover a range of topics, including strategic leadership, innovation, design thinking, and AI and ML for business. By investing in the development of their employees, ANAROCK aims to nurture their leadership capabilities and retain them within the organization.
Diverse Talent Acquisition
To meet the evolving needs of the real estate industry, companies like Mahindra Lifespaces, Lodha, and Signature Global are expanding their talent acquisition efforts beyond traditional real estate roles. Mahindra Lifespaces, for instance, has onboarded over 200 team members from various industries such as Customer Experience, Marketing, Finance, and Sales. This approach allows them to bring in fresh perspectives and skill sets that contribute to the overall growth of the business.
Lodha, in collaboration with specialized recruitment firms, is actively seeking diverse talent across multiple domains, including financial analysts, accountants, marketing and advertising specialists, architects, property managers, real estate analysts, project managers, legal advisors, and real estate sales agents. By partnering with recruitment experts, Lodha aims to attract the best talent available and ensure a strong workforce capable of meeting their business goals.
The real estate job market is experiencing a resurgence in growth, driven by increased property launches and demand for skilled professionals. As companies in the sector invest in their top performers and maintain robust talent pipelines, talent retention has become a key focus.
Compensation strategies, capability programs, and leadership development initiatives are being implemented to retain and nurture talent. Moreover, the industry is expanding its talent acquisition efforts to encompass diverse roles beyond traditional real estate positions. By adopting these approaches, companies in the real estate sector are positioning themselves for success in a competitive job market.