Expanding Your Network: The Key to Securing Top Talent for US Developers

Many real estate development teams in the U.S. face limitations when hiring from within a close-knit network which can hinder growth and long-term success.

By partnering with a recruitment agency, these issues can be effectively mitigated. Agencies provide access to a diverse candidate pool and offer specialized recruitment expertise, ensuring that you find the right fit for your organization while fostering a more inclusive and dynamic
environment.

This post outlines how US developers can significantly benefit from partnering with a real estate recruitment agency to overcome current hiring challenges and secure the best possible team.

Why partner with a specialist recruitment agency?

There are various reasons to consider partnering with a professional recruitment agency rather than restricting your reach to your limited network.

Improve diversity

While it can be tempting to hire from within your own network, this approach has its limitations.

For instance, your network might predominantly consist of individuals similar to you, which is fine for socializing purposes but can hinder diversity in recruitment. It is essential to build a diverse workforce, particularly in the real estate sector, where this issue persists from junior to senior levels.

Partnering with a recruitment agency offers a broader talent pool and helps overcome diversity and inclusion challenges. These agencies provide dedicated support and resources from the interview stage through to the new employee’s start date.

Managing recruitment alone can be challenging, especially when juggling other responsibilities. Leveraging a specialized team that handles this process day in, day out offers a real advantage.

Access to a broader talent pool

Recruitment agencies have access to a wide range of candidates from various backgrounds and industries. Unlike your internal network which might be limited, agencies can find candidates with specific skills and experiences that may not be present within your existing connections.

For example, once you have exhausted your own network – perhaps you’ve reached out to all your contacts in your city and state without success – an agency like Macdonald & Company, with offices in multiple locations across the U.S. and specialists in real estate development, can draw from a diverse pool of candidates across cities and state-line. This expands your opportunities, preventing your resources from being quickly exhausted.

Moreover, we can screen and interview candidates within your own network, allowing you to pass along contacts for vetting. This not only saves you time but also saves you from the uncomfortable conversation of turning down unsuitable candidates, helping you maintain good personal relationships without complicating professional dynamics.

We can further help to future-proof your team by identifying candidates with new and emerging skills essential for evolving roles. For example, Asset Managers today need to be both strategically focused and adept at operations and tenancy management. Our annual research provides insights into future industry trends, not just current demands, ensuring that your team remains equipped for upcoming challenges.

Support and expertise

At Macdonald & Company, we provide valuable market insights and trends, bolstered by our annual salary survey, now in its 24th year. This remains the benchmark for remuneration and attitudes across the international real estate industry

In terms of support, we save your team significant time and resources, allowing them to focus on the core business. We offer video interviews for candidates working remotely or those planning to relocate, reflecting the flexibility and adaptability of our approach.

According to our latest research, 52% of candidates indicated their willingness to relocate for the right job, demonstrating a larger geographical pool of talent available.

Our approach to hiring is thorough. We support our clients not only during the recruitment process but also after a candidate is placed, with multiple check-in points to ensure they are integrating well with the team

Benefits of Partnering with a Recruitment Agency

Partnering with a professional recruitment agency provides numerous benefits, allowing you to focus on your core responsibilities while leaving the hiring process to the experts.

Recruitment agencies specialize in this field, managing the complexities and time-consuming tasks of hiring on a daily basis. This enables you to concentrate on what you do best, without the need to juggle multiple roles.

Increased success rates

At Macdonald & Company we’ve helped many development teams find and secure the best talent.

A key example being a national multifamily developer. In the past several years, we’ve successfully placed key roles for their team with positions including:

Aside from this, partnering with a professional agency has also proven to be more successful.

Just take a look at some of our placement figures for U.S. Developers below to give you an idea of our record since 2021 and why this can be a worthwhile investment.

Improved retention rates

Partnering with a recruitment agency leads to improved retention rates and reduced staff turnover as agencies match candidates based on skills, cultural fit, and long-term potential. They also provide extensive support during onboarding and beyond, facilitating successful integration and building a supportive environment.

This level of continuous support helps new hires adjust smoothly and remain committed, resulting in a more stable and motivated workforce.

Access to Passive Candidates

Finding passive candidates who are not actively seeking new roles but possess the skills and experience that make them an excellent fit for your organization, can be one of the best recruitment strategies.

At Macdonald & Company, our headhunting approach expands the talent pool, uncovering exceptional candidates who might otherwise be missed.

Our strong industry reputation enables us to confidently reach out to these passive candidates and effectively communicate the benefits of new opportunities. Engaging with passive candidates not only broadens the range of potential hires but also ensures we can find the best possible fit for your organization.

How Recruitment Agencies Address Current Challenges

The real estate industry is constantly evolving and there are new challenges facing development teams all of the time. Whether that’s inflation or a general lack of market confidence, navigating three challenges and understanding how to build a resilient workforce who are fit for the future can be challenging.

That’s where partnering with a professional agency comes into play as we can provide a deep insight into not only the present but also into the future. For example, our latest research found that only 1 in 10 Asset Managers feel confident in the economy in the next 12 months with those in investment companies showing greater pessimism. These sentiments are highly valuable as they signal what is going on in the market as a whole.

In terms of remuneration and what employers value in the next role, our salary research revealed that workplace culture-fit ranks as number one. Again this insight is crucial for development teams as once you know what candidates are looking for, you can craft remuneration packages that speak directly to them.

We’re sharing a list of what employees say they value in a new opportunity below:

Securing Top Talent

Partnering with a real estate recruitment agency versus hiring from your own network offers numerous benefits, including access to a broader talent pool, improved diversity, and comprehensive support throughout the hiring process.

Here is a summary of key differences we have outlined in this post:

By leveraging the agency’s extensive network and expertise, you can find candidates with the right skills, cultural fit, and long-term potential, ensuring a successful hire.