Workplace culture has shifted a lot over the last 10 years. Before the pandemic, there were very few businesses that offered a hybrid working model yet, nowadays, this is often the strongest and most appealing factor for many employees.
As recruitment professionals for the Real Estate sector, we have seen a dramatic shift within the last 12 months of clients prioritising the fully-office based environment again and this has proved to be an added challenge when matching the right clients with the right candidates. So what’s the reason behind it?
Firstly, there is a strong argument that the Real Estate industry is a relationship-driven business. The sector is highly relationship-focused, with networking and face-to-face meetings playing a critical role in deal-making. Many Real Estate professionals, including developers, rely on in-person interactions to build trust with clients, negotiate deals, and assess properties.
Collaboration and team dynamics plays a big part in reasons for this change too. Teams in real estate, especially in development, investment, and property management, often need to collaborate closely on complex projects. The ease of in-office collaboration means spontaneous meetings, quick decision-making, and hands-on work, which helps streamline project management. Not only that but an office-based structure rebuilds culture and team cohesion that may be weakened during periods of remote working. Having employees together in one space fosters a sense of belonging, helps with onboarding new hires plus encourages mentorship. Mentorship is another key driving force behind an office-based environment. An employee’s career development is significantly enhanced through face-to-face interactions with a mentor. With access to resources and colleagues who can offer support in specific training modules, professional growth becomes not only more accessible but also far more personalised.
Finally, data sensitivity and security is something all businesses must be hyper aware of and may play a part in the reasons for the change too. Handling sensitive client data and large financial transactions can sometimes require enhanced security measures that are better managed within a controlled office environment.
However, this is all well and good and of course, there are always both positive and negative aspects to each side. Having a hybrid working model promotes a strong work-life balance. For a lot of people they can spend more time with family, fit in time for a gym session, a walk in nature or something that allows them to decompress during a lunch break and simply promotes a more manageable lifestyle which is better for their mental health.
Working hybrid also saves employees money on travel, appropriate office attire and food across the day, which can all add up very quickly and given the current situation with the cost of living, this can be a welcomed way to help save. Working from home also allows an employee to focus on particularly challenging or important pieces of work without distraction which can deliver results for the business quicker and more efficiently. Plus, teams can pretty much always work just as effectively remotely as they do in the office.
There’s always going to be pros and cons to both sides but what is your stance on the change within the sector? Have you seen this shift recently? Do you feel this is the best thing for the industry or are we taking a step backwards?