Research & Advisory
All the property market sectors have experienced a strong rebound in recent months, which has very quickly translated into an upswing in hiring activity. Developers are looking for land managers and professionals skilled in project management, financing and connecting clients with products. There are also myriad job opportunities for builders – virtually all types of technical workers.
“Hiring activity in real estate has clearly accelerated, manifesting in the rising number of both employment offers and people willing to change jobs. Having said that, there are still few candidates chasing employment opportunities in real estate or construction. This is invariably due to the dearth of high-skilled professionals and strong demand for workers in the warehouse and residential sectors. As a result, businesses need well-thought-out head-hunting strategy and to carry out a massive search to find employees,” says Wioleta Tyszko, Construction & Property Specialism Leader, Hays Poland.
Construction site workers wanted
The number of job advertisements is at its highest in the construction industry. “Due to the perennial shortage of technical workers, finding employees for any type of position is a challenge – from engineers right through to lead discipline engineers and project managers. Applicants are demanding higher and higher wages, which is due to the increasing scarcity of workers in this sector rather than the pandemic,” says the expert from Hays Poland.
The building sector has demonstrated resilience to the pandemic crisis and, of all firms in Poland, it is construction companies that rarely chose to shed jobs due to tough market conditions, says Małgorzata Mudyna, Randstad Professionals Regional Manager, Randstad Polska. “Less than one in ten companies laid off staff in this sector. The construction industry also has some of the strongest hiring plans. At the same time, the industry is reporting the highest employee turnover rate. A fourth of building workers have moved jobs in the last six months, which may mean an outflow of employees to other sectors and difficulties with attracting new staff,” explains the expert.
Soft skills are relevant in real estate too
Developers are busily searching for land managers, development managers, leasing managers and traders. “Job offers for such positions outnumber the talent pool available on the market, so employers must learn to compromise: offer higher wages, hire candidates from other sectors or take on less experienced workers who will be gradually upskilled to meet the demands of their positions,” says Krzysztof Butyński, Senior Manager, Michael Page Property & Construction. “It takes about a month to recruit for specialist or junior managerial roles. In the case of senior managers and directors it is usually three months.”
“Some regions, especially Lower Silesia and Pomerania, are also suffering from a paucity of facility managers,” adds Małgorzata Mudyna. “Recruitment processes have become visibly longer during the pandemic as skilled employees have grown less willing to move jobs.”
According to Marta Kulik, HR Manager, Newmark Polska, being able to act quickly, foresee end results and estimate risks also plays a major role in real estate. “Companies increasingly value employees who are good at crisis management, proactive, creative and capable of making quick decisions. The ability to manage more people working remotely or in a hybrid model is also relevant in the new reality.”
Competing on employee benefits
Organizations wanting to grow further cannot let their human resources deplete. As a result, to ensure business continuity, many have focused on minimizing employee turnover. “With a shortage of job candidates, competition is intensifying among companies which are trying to outdo one another in wage offers. In addition, rising inflation which is increasingly being felt across the board is impacting the demands of applicants and employees. However, there are also other factors at play as the experience of Covid-19 has recently highlighted the growing importance of stable employment. Polish people are showing a greater preference for workplaces where they are able to enjoy a good atmosphere and feel comfortable,” says Małgorzata Mudyna.
To retain employees, many companies have also had to review their benefit packages. Fringe benefits such as private healthcare and online gift vouchers have clearly gained in importance. “Companies have added psychological support and coaching to their employee schemes to facilitate personal finance management. Some benefits have been modified by providers who have moved them online. New platforms have been set up to help employees decide, with their employers, what to spend money on in a given month,” says Marta Kulik from Newmark Polska. “What is important to job applicants is not only the pay, but also the strategic plans for sustained development of both the company and its employees. This kind of motivation is becoming increasingly relevant to those in specialist or managerial roles. Talented professionals also appreciate work arrangements that have a positive effect on work-life balance, so being able to work from home and utilize flexible working hours are also important.”
New jobs and new skills
The shortage of high-skilled specialists in some market segments may be an opportunity for reskilling and a new start for many. “Learning new skills or changing your specialisation in real estate is a continuous, inevitable trend resulting from the scale of growth of various market sectors. A perfect example is the unprecedented growth of the warehouse market, which has exacerbated the dearth of warehouse specialists. Reskilling is also being seen in the retail and office sectors, which have suffered setbacks recently. We are also closely monitoring sales people and client advisers working for residential developers. Looking ahead, with wholesale selling of apartments to cross-border investment funds, there may be more people in such roles on the labour market in the future,” says Krzysztof Butyński.
Both reskilling and upskilling are now key in the rapidly evolving real estate market. “New jobs and skills are increasingly required for sustainable growth, environmental sustainability and building certifications. People having a relevant professional profile in these fields are hired as experts by most developers and consultancies. Having said that, this represents a new direction rather than a real boom,” concludes Wioleta Tyszko.
In the photo (from the left): Wioleta Tyszko, Construction & Property Specialism Leader, Hays Poland; Małgorzata Mudyna, Randstad Professionals Regional Manager, Randstad Polska; Krzysztof Butyński, Senior Manager, Michael Page Property & Construction; Marta Kulik, HR Manager, Newmark Polska
About Newmark Polska
Newmark Polska, a Newmark Global Partner, is a member of the Newmark Global Network. As one of Poland’s premier integrated commercial real estate services companies, the group provides conflict-free tenant representation, in addition to capital markets, market research and advisory, valuation, design and project management and workplace strategy services. Newmark Polska is led by Piotr Kaszyński, based in Warsaw, with additional offices in Wroclaw, Tricity and Krakow. The team leverages Newmark’s (Nasdaq: NMRK) global platform, which offers a comprehensive suite of services that seamlessly powers every phase of the property life cycle from offices around the world. To learn more about Newmark Polska, visit www.nmrk.pl.
