Attitudes in Real Estate
How do those in Real Estate feel about being a part of the industry, particularly since the effects of the pandemic?
We compare the varied attitudes and sentiments currently in the market.
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Key Attitude Findings
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more professionals now choose flexible working over a salary raise since the pandemic
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are unconfident in the Real Estate industry for the next 12 months
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are considering moving to another sector or asset class
Maintaining morale within teams
One effect of the pandemic has been to isolate us from colleagues and accelerate a number of changes in the way we work. This has created a significant challenge for leaders and managers trying to maintain morale and promote a sense of cohesion, ensuring that team members feel as much a part of the wider team and as valued when operating remotely as they do when in the office.
The good news here is that the percentage of employees who report feeling ‘valued’ by their employer has increased since the pandemic, although the number who are ‘neutral’ on this has grown too. Overall, it seems that many leaders in our industry have successfully navigated the disruption caused by the pandemic, positively leveraged the altered circumstances and, ultimately, have succeeded in keeping teams engaged and together, even when apart.
'Flexible working or 5% Salary rise?', choice by Seniority
Only a slight preference for a salary increase at Exec/C-Suite level.
The pandemic has left a predictable change in attitude toward what real estate professionals value the most if offered the choice. There is no doubt that employers are adapting and shifting their attitudes to offering flexible work on a permanent basis for the future.
Stephen Glands, Director – London
The sentimental impact of the pandemic for those in Real Estate
As with other areas of the economy, the impact of the virus has been felt globally across Real Estate with uncertainty.
Sentiments vary across regions, reflecting each area’s stages in tackling the Covid-19 virus and recovery (or slump) levels in their market. The UK facing higher rates of infection coming into the new year and another national lockdown, for example, has seen a further need for warehouses and industrial property space as ecommerce expands.
The data appears to show a level of confidence for the industry in the next year, although just as many are understandably on the fence at this stage. On the extreme side, nearly a fifth are likely to move away from Real Estate altogether as job losses in struggling sectors take hold.
Our Asia respondents seem to be the most nimble and being willing to retrain and move to different areas of the industry where they’ll see areas of opportunity.