The Importance of Culture in Real Estate Executive Recruitment
Often overlooked in executive recruitment is the role that culture plays in the success of a real estate acquisition firm, particularly in 2021. With the high-growth assets in the transition to specialized areas, the strategies of today may not work tomorrow.
The upshot is that strategy won’t save real estate firms—culture will. A culture of cooperation, trust, and integrated skill sets will enable agile firms to adapt to a market in flux. One of the key value propositions to be gained from a retained executive search firm is a focus on culture, something that tech automation tools can’t account for. Different executive candidates fit better in different cultures. Finding the right executive for the culture is more important than finding the right executive for the strategy. Strategies change. Cultures sustain companies.
Is It Better to Apply Directly, or Through a Recruiter?
From the perspective of an executive candidate, it is much better to apply for a position through an executive recruiter. Savvy candidates know that their negotiating position is not better by skipping the recruiter. Yes, the executive recruiter works for the recruiting company; Which is why the recruiter’s fee comes from that company, not the recruit. It’s no money out of the candidate’s pocket.
However, the executive recruiter acts as an essential go-between, because (s)he has a direct relationship with the hiring division and knows the company’s budget. The recruiter, presumably, has at least made some effort to make sure that that budget aligns with the recruit’s salary expectations. Because top talent knows this, it makes as much sense for companies to rely on retained recruiters as it does for the candidate.
While executive recruitment will benefit from tech trends, defining the post-COVID world; They still have an important role to play, as recruitment resumes.
Executive recruiters can:
- Serve as the intermediary function preferred by top executive recruits.
- Speed up the costly recruitment process.
- Reduce the likelihood of “bad hire” losses.
- Match recruits to organizational plans and company culture.
- Recruit globally.
Even as they dust off their recruiting policies, real estate firms who understand the importance of talent acquisition; Should be dusting, off their executive recruiter relationships as well. Interesting articles, considering the real estate trends.