What do senior candidates want?

If you're looking to hire new senior team members, then being aware of what Directors and C-Suite professionals are looking for in a new role is important. Below, we'll discuss the key factors for attracting top talent in real estate. 

The difficulties in hiring senior employees

It's no secret that senior hiring comes with its own set of challenges. 

Not only are you trying to attract the very few senior personnel for your organisation’s specific practice in a certain geographical location, you are competing to try to get the best of the few that you believe will excel your company’s growth plans.

Those who are at director and c-suite-level are least likely to be found trawling job boards. Senior employees are typically more loyal to their current employer – with both personal and monetary investments involved - and are less likely to job-hop. As is often the case in real estate, senior appointments sometimes occur as a result of networking and who you know through word of mouth and prior connections.

If that fails, needing a senior specialist to bring a wealth of experience and knowledge entails a wider range of incentives and benefits, some of which aren’t as simple as promises of big bonuses. Often, these senior candidates are not actively looking for new opportunities, but can be enticed with a new venture if they hear of one worthwhile.

If directors and other senior-level candidates feel that the current leadership team is not up to par, or that they won't be able to utilise their skills and knowledge in a way that is beneficial to the current team, then they'll be less likely to accept a job offer.

What directors and C-suite professionals look for in a new role

When recruiting senior employees, it's important to keep in mind that they are looking for more than just a high salary and bonus potential. They want to work for a company that values their experience and where they will feel like they're part of a team. It's also essential to create a workplace culture that is welcoming and inclusive, as this will help to attract and retain top talent.

Our report shows that the most important ranked factors when seeking a new role, by seniority, are:

• Existing leadership teams: this is a key factor for C-suite professionals who want to work with a strong and well-rounded team. If they feel that the current leadership team is not up to par, or that they won't be able to ustilise their skills and knowledge in a way that is beneficial to the current team, then they'll be less likely to accept a job offer.
• Workplace culture fit: this is crucial for all employees, but it's of particular interest to seniors who may have different expectations in terms of the workplace environment. If the culture isn't a good fit, then they'll be less to move from their current company where they have established their level of comfort.
• The company's reputation/values: this is another important element for all employees, but it's a key factor for seniors who want to work for a company that can enhance their career profile. If the company has a good reputation in their specialism/network, and values that align with their own, then they'll be more likely to accept a job offer.

What to look for when vetting candidates

When you're looking to hire senior employees, take your time to vet each candidate carefully. After all, they'll be responsible for pivoting the direction and growth in your company. Here are some factors to keep in mind when vetting candidates:

• Experience: make sure that the candidate has the relevant experience for the role and specific sets of responsibilities that you're looking to fill.
• Skills: in addition to experience, the candidate should have the necessary and appropriate hard and soft skills for the job.
• Attitude: it's important that the candidate has a positive attitude and is on board with the wider company goals they will be helping to achieve.
• Company fit: make sure that the candidate aligns with your values and is a good fit with your company culture.

Tips for retaining senior employees in the real estate sector

Your consideration for senior employees doesn't stop once they're hired. It's equally as important to retain them in your company. Here are some of our top tips for retaining senior employees in the real estate sector:

• Offer competitive salaries and benefits: your senior employees will be looking to be compensated fairly. This is particularly important in high-pressure and demanding roles such as C-suite positions. Bonus, commission and other incentives are an important part of the real estate industry, so you want to make sure that your senior employees are properly incentivised, particularly at a higher level.
• Provide opportunities for growth and development: providing mid-senior employees with opportunities for internal growth and development is important. This could include mentorship and development programs, as well as opportunities to take on new challenges within the company. This will help to keep them engaged and motivated in their work.
• Create a supportive work environment: creating a supportive work environment for your senior employees includes providing them with the resources and support that they need to be successful in their roles.
• Maintain a positive workplace culture: Your workplace culture is something that your new C-suite professionals and directors will carefully monitor. If the culture dynamic in the company changes for the worst, they may look to go elsewhere.

All in all, hiring senior employees can be a daunting task. But, if you take the time to vet each candidate carefully and provide an attractive proposal that considers senior professionals' wants and needs, you're sure to find the best fit. Consider what you can do to keep your new hires content in their roles by providing opportunities for growth, development, and positive workplace culture. 

If you looking to fill a senior position in real estate and the built environment, contact your nearest office to speak to our expert consultant in your specialism.