Real estate in India is growing at an awe inspiring rate and requirement for good candidates is significantly on the rise. However although the sector is poised as the 2nd largest recruiting sector in India, it also comes with the tag of being a disorganised one. This poses serious challenges for recruiters and employers alike.
So what are the challenges seen- the most obvious one being finding quality candidates and ensuring that they stay engaged while hiring process is underway and finally onboarded. Even at senior levels today there is a propensity to go job shopping making it challenging to complete the process of hiring. In case a candidate does get shortlisted, typically there is no sanctity right until he or she has actually joined the proposed firm and is completely invested.
Amongst the easiest routes for employers we have observed is ESOP’s which is not common practice in real estate firms as most are family run businesses and such is not common practice. Even some of the larger firms do not necessarily deploy such methods at leadership level. Leaders need a clear growth path and adequate autonomy in the jobs hired for to stay adequately engaged.
Personally this is an exciting time for RE in India and its related industries provided we see more professionalism in the industry. Maybe its a shout out to business owners to relook at how businesses are run and profits are shared.