The job market for corporate real estate (CRE) professionals is perhaps more active, robust, and replete with new opportunities than at any time in recent memory.
As evidence, there’s been a dramatic increase in recent weeks in the number of new job postings on the CoreNet Global Career Action Center. And you need look no further than your LinkedIn page to find numerous examples of both end users and service providers who are taking on new roles.
What’s driving all this activity and movement? For insight, we turned to William J. (Bill) Ferguson, Chairman and CEO of Ferguson Partners, a Chicago-based global professional services firm specializing in Executive and Board Recruitment, as well as Leadership, Compensation, and Management Consulting.
“While the pandemic was incredibly difficult emotionally and physically for a lot of people, there were a lot of industries that benefited,” he explains. “There’s been a focus on logistics and supply chain. Infrastructure, data centers, and anything to do with technology have benefited because a lot of people have worked remotely and have required more technology both to work and to play.”
Many companies have been growing, or at least trying to grow. “So, there’s a lot of demand out there for talent,” he continues. “But at the same time, there’s been a decrease in supply. Some people in the profession have quit. Some have retired. Some moved to a different part of the country or didn’t want to work five days a week anymore. They’ve had an epiphany and said, ‘Enough is enough.’ It’s a perfect storm. The talent supply shrunk, and the demand increased during the pandemic, and that’s why you’re seeing the numbers you’re seeing.”
Additionally, people today are making moves for reasons other than just a career, he adds. “They are now making decisions based on lifestyle. There are new drivers in this career-decision matrix which really weren’t there before. People in New York are moving to Nashville, Tenn., or to Charleston, S.C.
“I’m part of this story too. We bought a house in Naples, Fla., and I’m working remotely more now than ever before. I’ve announced my retirement, and part of the reason I’m working remotely is that I need to get out of the way of my successor here. Plus, Naples is just a great place to be, especially in the winter.”