Strategies for Successful HR Management in the Real Estate Industry

Photo by Owen Lystrup on Unsplash

Real estate is land and the buildings or other improvements on it. Property rights give a person the legal ownership of land, buildings and improvements—and any natural resources such as minerals or water found on that property. The real estate industry is made up of many different types of professionals, including but not limited to: brokers, team leaders, salespeople, property managers and appraisers, etc.

Real estate professionals are happier at their jobs than employees in many other industries. Although most agents and brokers are happy with their jobs in real estate, some skilled workers leave the field because of factors that bother them. Former real estate agents and brokers identify workplace conditions, poor corporate training programs, a lack of health safety and security measures, as well as payroll issues—among the most common complaints.

These issues are all connected to poor management and human resources practices: although many real estate agents work independently, there are still large brokerage firms that employ hundreds of these agents. Furthermore, real estate is a very specific industry because agents often have flexible schedules and their income depends mostly on the commission fee they receive for selling properties. Because of the many complex factors involved, real estate companies often suffer from human resources problems that hurt their profits and cost them valuable talent.

The real estate industry is known for having relatively high employee turnover. Real estate companies often hire young people for entry-level positions, giving them minimal training and paying them the minimum wage. Due to the lack of training and experience in property management and sales, inexperienced real estate agents tend to fall behind quickly. Some real estate brokerage firms do not take the time to train their new employees properly but instead simply throw them into lakes and hope for the best. This lack of motivation can force young talents to look for better job positions.

Due to the nature of their work, real estate professionals often struggle with attracting and retaining top talent. Companies risk losing rising stars as well as skilled workers due to a lack of employee support programs. It is how Multiable Human Capital Management (HCM) can give you a hand. Monitoring employees with advanced technology is the key to a standard career planning process and retaining valuable talent. Integrating your HR functions with Multiable HCM system can streamline and improve the performance of all aspects of human resources by increasing efficiency, optimizing structure, and enhancing corporate image.

About Multiable:

Multiable HCM is transforming Asian workforce management by providing companies with tools to manage their human resources. Multiable has provided implementation services on Multiable HCM for the last 30 years. During this time, we have built partnerships with more than 6,000 Asia enterprises by standardizing business processes and improving departmental collaboration efficiency.

About EDG Grant:

The Enterprise Development Grant (EDG) was launched in 2018. EDG is a single grant that supports companies in the upgrading of business capabilities, innovation and internationalization. EDG replaces the Capability Development Grant (CDG) and the Global Company Partnership (GCP) in the same year.

M18 ERP and M18 HCM is under the scopes of EDG grant.

Our consultants have rich experience in helping customers to get EDG application awarded to deploy our renowned M18 ERP in Singapore. Multiable will provide relevant technical / system related documentations and guide you throughout the application process

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