A framework for talent management in real estate

Abstract

PurposeThe purpose of this paper is to propose talent management, in today's competitive marketplace, is critical in organizational success. Real estate organizations are now recognizing the value in attracting and retaining the best, brightest employees in order to achieve higher than average market share and elevated profiles. In the era of the knowledge worker, “talent” – narrowly defined as a core group of leaders, technical experts and other key contributors – are quickly becoming an organization's most important asset. As real estate companies continue to compete for the top tier talent, their strategies must become more integrated.Design/methodology/approachBased on review of existing literature and expert panel interviews, a framework for integrating talent management strategies focused on multiple generations.FindingsThere is clear evidence that innovative recruiting techniques must be geared to attracting the new generation of workers. Additional attention should be given to increasing employee engagement for Generation Y, while at the same time developing strategies focused on knowledge transfer and reverse mentoring.Practical implicationsIn an effort to address the growing talent shortages in real estate, coupled with the exiting of retirement of workers, aggressive strategies must be adopted and the framework provides a holistic approach to achieving competitive market share while addressing critical talent issues.Originality/valueThis paper provides real estate practitioners with strategic systems and processes to attract and retain talent in an increasingly competitive market. Practical strategies are presented with a holistic framework.

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“…We have identified relevant variables to explain the relationship between talent management and organization performance. Talent Management consists of five elements: attracting/recruiting, selecting, engaging, developing and retaining employees (Phillips & Roper, 2009). …”

Measuring customer satisfaction: a study of the Swedish real estate industry

“…Furthermore, it is a way to benchmark a company with other companies and within the organisation. Previous studies have shown that the real estate industry has developed to become more service and customer-oriented (Phillips and Roper, 2009). Also taking Sandersson (2015) conclusion, the tenants' wants to have a well functioning communication with the management, should be a crucial incentive to make customer evaluations.…”

“…It can also be a way to compare a company with other companies' results and also within the organisation. Previous studies show that the real estate industry has developed to become more service and customer oriented (Phillips andRoper, 2009 andPalm, 2013). This implies that measuring customer satisfaction should be of great interest for the industry.…”

“…In the past decade, work involving customer satisfaction has received a great deal of attention (Kärnä et al, 2009) as the real estate industry becomes more competitive and part of an increasingly dynamic environment (Lind &Lundström, 2011 andPhillips &Roper, 2009). Anderson and Sullivan (1993) emphasize that customer satisfaction is crucial for a company to be competitive and profitable (see also Sanderson, 2014).…”

Yetenek Yöneti̇mi̇ Temelli̇ Personel Atama Modeli̇ Ve Çözüm Öneri̇si̇

“…Davies [22] bilimsel ortamda yetenek yönetimi için orijinal ve kullanışlı bir taslak çerçeve oluşturmuştur. Phillips [23] …”