Real Estate which includes construction of commercial, residential and public infrastructure projects is a perennial growth industry with rising populations and urban migration fuelling a constant demand for new homes, offices, malls, factories, roads, etc. As the industry steps up hiring, it brings into focus some of the HR challenges in the Real Estate Industry.
HR challenges in the Real Estate Industry
1. Geographically dispersed workforce: Project teams are dispersed across project sites, headquarters and associated locations, making team management a challenge.
2. New demand for specialization: As the realty business moves up the value chain, companies are seeking associates with a higher "affinity for client servicing', 'productivity', 'managerial ability' etc., introducing new challenges at the workplace.
3. Resistance towards automation: Realty business requires more face-to-face interaction with clients and less of remote servicing, creating wrong perceptions around automation.
4. Attrition: Like any other business, Realty is also vulnerable to attrition, even as companies experiment with new ideas to retain talent.
5. Consultants and Temp workers: Realty has created new roles and functional departments such as legal, insurance, sales, marketing, finance etc., most of which are staffed by part-time consultants.
6. Emerging compliance needs: Realty is one of the least regulated industries, however this is changing as governments around the world create new norms for them.
Globelead HCM Solution for the Real Estate Industry
1. Empowers realty companies towards better decision-making.
2. Automates Payroll, Compliance Management and Employee Records.
3. Engages a dispersed workforce in positive ways.
4. Fosters a culture of innovation and excellence at the workplace.