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How over 75,000 real estate professionals keep up with changes in the industry. 7-10 of the most intriguing, breaking jobs from real estate's premier employers posted on the industry's first, and only, job network of 14 websites. Don't miss who is hiring and for what positions, plus our Weekly Insider's Perspective:


"One of the most talked about emails in commercial real estate."



Previously Owned
Susan Phillips, CEO, SelectLeaders July 30, 2014
Last Friday’s WSJ highlighted, “New home sales fell 4.9% in the first half, a drop that could weigh on job creation in construction and reverberate throughout the broader economy.” Our industry might think otherwise. The January-May 2014 Cornell/SelectLeaders Job Barometer Report recorded a 113% increase from a year ago in job postings in the single-family housing sector. Between January and May single-family housing represented 14.4% of all CRE opportunities. Housing REITS certainly were a factor. Sales of previously-owned homes rose for the third straight month in June. Jobs in residential building rose 2.6% this year. Overall construction, including rehabilitation, may become a better indicator of the economy than looking only at new construction.
Reinventing Upward Mobility
Susan Phillips, CEO, SelectLeaders July 23, 2014
Yesterday, Obama signed the "Workforce Innovation and Opportunity Act" which spotlights job-training, and especially on-the-job training programs, to boost economic opportunities for middle-class Americans. While it could be looked at as a way to win votes, this is the one act where we all win. In the coming years, one-third (and perhaps close to one-half) of all jobs will require more than a high school, but less than a four-year college degree – and most will involve some sort of technical or practical training. Last year BOMA (Building Owners and Managers Association) International led a veteran’s initiative highlighting that their technical training translates perfectly to the workplace, especially in property management. Joe Markling, managing director of Strategic Accounts at CBRE, pointed out, “Military experience translates well into commercial real estate careers, as our veterans bring to the table leadership and teamwork experience, technical skills and the ability to work well under pressure—all attributes valuable in our industry.” A rising middle class is essential for our industry’s success. Practical training makes practical sense.


Forget Your Password
Susan Phillips, CEO, SelectLeaders July 16, 2014
I hope the 7/14/14 WSJ article "The Password Is Finally Dying" is correct. It reports that Google is working on a yet unnamed protocol that allows you to connect to your online accounts on any device by authenticating yourself with your smartphone - using a code sent to you or even a "smart ring." Google demonstrated a laptop that was unlocked just by the presence of one's Smartphone. Keep in mind it's very simple to wipe your phone remotely if it is lost or stolen, which reduces risk. ATM's currently use "two-factor authorization." A 6-word passcode is texted to your phone, because no one else in the world has your phone and the International system for sending texts is, according to experts, almost impossible to hack, resulting in a login system that is much more secure than a password alone. If an APP is used, the text will work even if you have no cell coverage. Probably, hackers will eventually learn to do the two-step, but in the meantime not having to remember (or not remember) so many unique passwords sounds ideal. Now if it only worked for names.
Well-Rounded
Susan Phillips, CEO, SelectLeaders July 9, 2014
The January-May 2014 Cornell/SelectLeaders Job Barometer Report found that since the Financial Crisis, employers continue to search for more well-rounded applicants with a diverse skill set who can fill many roles. "Employers have not settled back into their pre-2008 traditional job functions with many job duties remaining fluid," said Ana Mossa, Research Director for SelectLeaders. Property Management accounted for 20.7% of all jobs posted in the first quarter of 2014 - higher than in any quarter in 2012 and 2013. Interestingly, the job requirements also broadened. Job postings described the ideal candidate as possessing accounting skills, or leasing experience is a plus. Job seekers in all sectors given a choice between a position with higher compensation or one with the opportunity to increase their skill set should think long and hard about the lessons of the past few years. Employers learned to get by with less people and as they expand their teams search for well-rounded individuals with diverse skill sets - like those who got them through the past few years.


What Lazy Hazy Days of Summer
Susan Phillips, CEO, SelectLeaders July 2, 2014
The 2014 Cornell/SelectLeaders Job Barometer - Assessment of the Real Estate Job Market - confirms what we see today on our site, more opportunities than in 2007. The job functions and sectors that led the recovery – such as multi-family, asset managers - are finally being surpassed by those that took the longest to recover – development, single family and retail. Here are the hottest jobs in real estate in 2014 (1) Retail-15.7% (2) Property Managers-15.2% (3) Single Family Housing-14.4% (4) Development / Project Managers-13.8% (5) Multi-family-11% (6) Office-9.8% (7) Corporate Real Estate-8.1% (8) Investment/Asset Management-6.9% (9)Brokerage & Leasing-6.2% (10) REIT-6.1% (11) Industrial-3.5% However, If you were looking a year ago finance led. REIT’s have given single-family a multi-family spin. As US manufacturing returns keep your eye on industrial. The hottest jobs ebb and flow loosely following the development cycle. Thankfully we appear to be having development cycles at last.
Modern Times
Susan Phillips, CEO, SelectLeaders June 25, 2014
Fine-grained, digital monitoring of workers’ behavior promises to fundamentally change how we work — along with raising concerns about privacy and the specter of unchecked surveillance in the workplace, according to the “New York Times” recent front page article, “Unblinking Eyes Track Employees”. A pharmaceutical company increased sales using data-guided insight observing that workers who sat at larger tables in the cafeteria, thus communicating more, were more productive than workers who sat at smaller tables. Skeptics warn of a digital-age rerun of Frederick Winslow Taylor’s “scientific management” from a century ago when employers monitored achievement using a stop watch, satirized in Charlie Chaplin’s “Modern Times”. Theft monitoring of restaurant workers had an unexpected effect. Servers, knowing they were being monitored, pushed customers to have that dessert or a second beer, which resulted in the increased revenue for the restaurant and tips for themselves. Did I say that we video our employees? Wonder if they’ll improve just reading that we do.


Job Makeover
Susan Phillips, CEO, SelectLeaders June 18, 2014
A money-green swath ran dab down the middle of the map in The New York Times Sunday Business section indicating a shift in jobs from the two coasts to the center of our country: “In the five years since the US began its slow climb out of the deepest recession since the 1930’s, the job market has undergone a substantial makeover. The middle class lost ground (2.5 million jobs) to the top and bottom of the pay scales. One in five homeowners with mortgages owes more than their homes are worth. The housing industry has shrunk, while healthcare, technology, and energy have led the recovery.” SelectLeaders Real Estate Job Network has seen a 43% increase in jobs outside the East and West Coast metro areas compared to pre-recession 2008. Opportunities are being posted in cities that before the recession would have been considered second, or even third, tier markets. Possibly because these markets were more resilient to the recession, our industry is giving them a second look. Oh Geez, ya ya you betcha, Fargo and a lot of other smaller markets are neither second tier nor second fiddle anymore.
Tightening Labor Market
Susan Phillips, CEO, SelectLeaders June 11, 2014
The WSJ article “Jobs Return to (late 2007) Peak, but Quality Lags,” reports that the number of jobs in manufacturing, construction and government—typically well-paying fields—has shrunk, while lower-wage work grew. When adjusted for inflation, Americans' earnings are little changed since the recovery started in mid-2009. Software firm FranConnect Inc. in Reston, Va., added 30 people, but still have multiple openings. According to Chief Executive Amit Pamecha, “A lack of qualified candidates is holding back hiring.” The firm has started recruiting college graduates with little technical experience in hopes of filling the void by offering training. "As business picks up, the labor market is just at the start of the point where it is tightening," Mr. Pamecha said. "If there was a qualified candidate, would we pay more? Absolutely."


Change Your Password
Susan Phillips, CEO, SelectLeaders June 4, 2014
In the face of Heartbleed and other security breaches that have impacted many services across the web, SelectLeaders Job Network has been implementing new security protections. Thankfully, SelectLeaders has not detected any signs of suspicious account activity. However, experts tell us the only 100% protection of your information is in your hands. We are sending an email today urging everyone to change your password on SelectLeaders, to a unique password for our site, which you do not use on any other site. It is particularly important to change your password if you have used the same password on multiple sites. Please login to your account now, and once logged in, click on “My Profile” to change your password: http://www.selectleaders.com/login
Most Qualified
Susan Phillips, CEO, SelectLeaders May 28, 2014
We were assembling for our weekly Friday Wrap-up Meeting when a job seeker called asking if he could edit his resume after he attached it. We said, "No, we want to prevent a last minute mistake in what is being sent." He said, "I do it all the time on other job boards. I just change my information to whatever they’re looking for. That way I can apply to everything.” After he hung up, almost in unison, the team said, "And that's the way we want it." Mass job boards, allow mass applications. We are a niche real estate job site, and we reflect our industry. We prefer rich, individualized resumes, not profiles. Think about it, could you capture Silverstein, Trump, Zell, or any of our industry's leaders in a profile? Employers tell us we have the most qualified talent - quality, not quantity. So make certain your unique talent stands out in your resume, and you’ll not only get a job, but a job where you’ll succeed, (and hopefully soon become one of our employers).


Most Indebted EVER
Susan Phillips, CEO, SelectLeaders May 21, 2014
The Class of 2014, “The Most Indebted Ever,” with average student-loan debt of $33,000, needs jobs. However, according to the U.S. Labor Department, unemployment among 2013 graduates was 10.9%, still weaker than prerecession. What’s more, a 2013 study conducted by McKinsey & Company found that 41% of graduates from top universities -- the presumably best and brightest -- could not land jobs in their chosen field after graduation. Some 260,000 college graduates were stuck last year working at or below the federal minimum wage of $7.25 an hour. What can you do? Post a Free Internship Job on the SelectLeaders Job Network and take a free test drive of a recent graduate. In return, you’ll get an employee with the latest technology skillsets: Excel, PowerPoint, Financial Modeling, Argus, and with the energy and enthusiasm to get it all done right. The average hourly wage for interns at the bachelor’s degree level is $16.35, and at a master’s degree level, $22.50. According to the National Association of Colleges and Employers, employers made full-time offers to 64.8% of their interns. Our industry loves a good deal. Post free, try out top talent, and if satisfied, personally change, the Future.
15 Rules for Negotiating a Job Offer
Susan Phillips, CEO, SelectLeaders May 14, 2014
A recent “Harvard Review” article, “15 Rules for Negotiating a Job Offer” by Professor Deepak Malhotra is worth Googling: “Consider the whole deal. Sadly, to many people, “negotiating a job offer” and “negotiating a salary” are synonymous. You may decide to chart a course that pays less handsomely now, but will put you in a stronger position later. Help them understand why you deserve what you’re requesting. If you have no justification for a demand, it may be unwise to make it. Understand their constraints. A large company probably can’t give you a higher salary than your peers, but can be flexible on start dates, vacation time, and signing bonuses. A smaller company may adjust the initial salary offer or job title, but not other things. Make it clear they can get you. If you’re planning to mention all the options you have as leverage, balance that by saying under what conditions you would be happy to accept an offer. Avoid pitfalls that make you less likable by evaluating, in practice interviews with friends, how others are likely to perceive your approach. Make certain your choice will lead you where you want to go.”


College Boomers
Susan Phillips, CEO, SelectLeaders May 7, 2014
As Baby Boomers retire and seek intellectually stimulating environments known as “Learning-Driven Communities,” which are tightly intertwined with colleges, they will experience significant upticks in popularity, according to the recent New York Times article “Going Back to School, Without the Pressure.” Importantly, medical care near universities is usually cutting-edge, because universities have medical institutions that do ongoing research. Many, like Lasell Village on the campus of Lasell College in Newton, Mass., are managed by the college, and residents are required to take 450 hours of classes every year. An 80 year old resident summed up, “The courses keep people mentally alive. There’s also a lot of interaction with college students.” However college retirement entrance fees can be costly. At Kendal community at Oberlin College in Ohio, entrance fees range from $92,000 to $488,500 (the bulk of the fee is typically refundable at move out), and additional monthly apartment fees are $2,591 to $4,844 – both fees based on the residence size. Residents can also receive more intensive care like assisted living and nursing home care as they age. Baby Boomers will impact the concept of retirement housing. They may even help curb escalating college costs at the same time.
Recovery Compensation
Susan Phillips, CEO, SelectLeaders April 30, 2014
The National Employment Law Project, analyzing employment trends four years into the recovery, reported in the 'New York Times': while employment has finally surpassed pre-recession levels, the deep recession wiped out millions of high and middle wage jobs, with the strongest growth in lower wage work. Higher wage jobs, like accounting and legal work, lost one million jobs during the recession (3.6 million lost - 2.6 million added), while 2 million lower wage jobs were lost (3.8 million added). The report concluded that employers feel no pressure to raise wages for those who are working, with 10.5 million Americans (many qualified for middle and higher wage jobs), still out of work. What do we see in Real Estate? Jobs paying over $150,000 account for 10% of our jobs (5% pay $200,000 - or more), while jobs paying $100,000 or less have increased. Overall, employers have been paying less than prerecession levels for the same job. The government is concentrating on lower wage issues, but the need is for job creation incentives. When employment rises, compensation rises.


Who Needs HR?
Susan Phillips, CEO, SelectLeaders April 26, 2014
. Who Needs HR? Susan Phillips, CEO - SelectLeaders A recent Wall Street Journal article, "Companies Say No to Having an HR Department", followed companies, like LRN Corp., a 250-employee business, that did away with their HR Department. A "Flat Management" decentralized structure was to foster autonomy and accountability among leaders across the company. Workers say they felt the absence of an in-house HR staff acutely, especially when it comes to mediating employee disputes and resolving pay problems. "Companies have to think of the financial risk and the strategic risk - They can open their company up to lawsuits, and if they don't know where to find qualified engineers or other specialized personnel, they can end up behind in the battle for talent," added Steve Miranda, Managing Director, Cornell University Center for Advanced Human Resource Studies. HR departments are sometimes perceived as slowing a company down, however without them, the company's executives become the ultimate decision makers for everything, creating a bottleneck. LRN Corp. successfully resolved this issue by bringing on an employee "to focus on all things related to people." If it looks like an HR Manager, and sounds like an HR Manager, it's ...
Email Freeze Out
Susan Phillips, CEO, SelectLeaders April 16, 2014
The news hit the media like wildfire last Friday: French Labor Unions had struck a pact making it illegal to send work-related emails after 6 p.m. Apparently this trend does not stop at the border, Germany's Volkswagen Corporation began cutting off corporate email to its Germany-based employees between 6:15 p.m. and 7 a.m. U.S. Investment Bankers, acknowledged for working 24-7, were recently encouraged, or even required, not to access their online work accounts from 9 p.m. Friday to 9 a.m. Sunday. According to research, Sunday has become the new Tuesday as far as open rates for business emails goes. Personally everyone I know (and is my age) is checking their email, responding, and gearing up for the week ahead late Sunday afternoon. Could this be an insidious plot by Baby Boomers to keep rising young talent from moving up the ranks and pushing them into retirement?


Cohousing­­­­
Susan Phillips, CEO, SelectLeaders April 9, 2014
I am on a Board of Directors that is looking for a housing developer and was surprised when a large respected developer asked us if we had considered “Cohousing”. Cohousing is planned, owned and managed by its residents and varies from low-rise apartments to townhouses to clustered detached houses, but with access to extensive common facilities. Condo ownership is the most common model because it fits U.S. cities’ multi-family planning, and banks lend more readily on single-family homes and condominiums than housing cooperatives. A large historic mansion with extensive property in Minnesota was turned into cohousing apartments following this model. What differentiates it from conventional developments is the design process, fostering social relationships among its residents and emphasizing shared spaces, especially green space. Because Cohousing is designed by, or with considerable input from, its residents and their needs, rather than on what a developer thinks will help sell units, turnover is typically very low, with a waiting list for units. Residents are a like-minded community, many are seniors. They provide a way to avoid the isolation and depression that people can face when they live alone. Leave it to our industry to find innovative solutions to the retiring Baby Boomer Bubble.
Zombie Idea
Susan Phillips, CEO, SelectLeaders April 2, 2014
Paul Krugman in Monday’s New York Times debunked “a prime example of a ‘Zombie Idea’ – an idea that should have been killed by evidence, but refuses to die - the belief that America suffers from a “skills gap” and that inadequate worker skills explains high long-term unemployment. Careful studies – like those recently conducted by M.I.T. and the Boston Consulting Group find that “worries of a skills gap crisis are over-blown.” The long-term unemployed are indistinguishable in skills from laid-off workers who quickly find jobs. Klugman believes that the myth of the skills gap is giving the government an excuse to not create tax, and other, incentives to hire the long-term unemployed. While SelectLeaders has rejoiced with the recovery thus far in the real estate industry, we know that many in our industry have not recovered and how difficult it is to keep going. More and more jobs are being posted, so please apply again today, “Never give up, for that is just the place and time that the tide will turn.”


Network
Susan Phillips, CEO, SelectLeaders March 26, 2014
When you’re down, you know who your friends are. No wonder there is more hiring from Professional Association websites than we have seen in years. 2014 is over 8% higher than the same period in 2013. Because, if you were in real estate in the past five years, you know what the Professional Associations can do for you. SelectLeaders is honored to power the Career Centers for ten premier Real Estate Professional Associations. Members receive automatic discounts when they register and post jobs on any of our ten Association Career Centers. Plus, a percentage of the posting fee goes directly to the Association to support their research and education. All jobs are posted on all 12 real estate exclusive sites, and talent is from all 12 sties. And don’t forget when you search for jobs on our Career Centers, also look for conferences and meetings, including offerings from local chapters. You’ll not only find a job, you’ll get the support to succeed.
Speling
Susan Phillips, CEO, SelectLeaders March 19, 2014
Every two weeks, we usually find one or two job postings with typos in the Job Title. Our Job Posting functionality is similar to that of emails. Job Titles, which correspond to Subject lines, do not have spell check, but the body of the job specification, like the body of an email, does. We look at all jobs posted every day and immediately fix the spelling. We then send an email informing the job poster that there was a small typo in the Title of their Job Posting and that we fixed it because it would affect successful results when candidates search. Job search functionality is weighted to use the Title as the most important search criteria, followed by the number of times a word appears in the spec. Spell check for the title will soon be available on the SelectLeaders Real Estate Job Network. In the meantime, employers double check your titles, and candidates check out our jobs every couple days, because we don’t want a misspelling to cause you to miss an opportunity.


A Seller’s Market
Susan Phillips, CEO, SelectLeaders March 12, 2014
We often see hiring trends emerge before they can be substantiated by hard data. Last Friday a job seeker contacted us to confirm that her resume would be kept confidential, and not be available to employers, if she selected this option when uploading her resume. It took a few minutes for us to realize what she was really asking, because we had not heard anything like this in the past 6 years! Her concern was that too many employers would contact her. In recent years, we have received countless calls from candidates worried that employers had not received their resume because they were not responding, but not since 2007 have we received a call from anyone worried about handling too many employer responses. We immediately researched our data. 2012 was a feeding frenzy with job seekers seeing opportunities in all sectors and levels for the first time in years. 2013 saw development jobs spurring hiring in all sectors. 2014 saw the first hint of change. 2014 had more jobs than have been posted in years and slightly less job seekers - not significantly less, but less just the same. It’s still a seller’s market for employers, but dare I say we may be seeing the tip of the iceberg?
850 Jobs and Counting
Susan Phillips, CEO, SelectLeaders March 5, 2014
In March, 2014, over 850 real estate jobs in all sectors and at all levels are available on the SelectLeaders Real Estate Job Network. Most significantly, the largest gains occurred in the final months of 2013, increasing in the first months of 2014. Looking back two fiscal years, in 2011, we celebrated when there were, on average, 441 available opportunities a month - over 50% fewer jobs than where our industry is today. Thinking back to October, 2008, (when Lehman Brothers failed and hiring ceased) 35 jobs were posted on the site that month. 2009 saw 50% less jobs than 2011, on average 240 jobs available a month. For all of us who waited so patiently as jobs trickled in, steadily, but ever so slowly, March 2014 is a beautiful sight. Click on Search Jobs and enjoy the view.


Play the Float
Susan Phillips, CEO, SelectLeaders February 26, 2014
Experts tell us that we should have more content to attract more people to our website. Jobs are our content, and the best jobs in real estate is the content our professionals want. But the discussion did make me look at articles on other sites. I “learned” that January and September, right after the traditional vacation times, had the most jobs which they translated into hiring. But wait I said, from the time a job is posted, recruiters usually wait two weeks to start screening resumes. In the best of worlds, it would take a month to get hired. In today’s world, it can take 3 or more. Which is why I say – play the float. January boasts the most job postings. February used to have the most hires. Today, companies are running so lean they almost don’t have time to hire, delaying the hiring cycle. Plus employees are asked to wear more than one hat, which makes more people involved, and the hiring process longer. Many jobs posted in January will reach the decision point in March. So, is it worth it to apply to a job that is close to its 60-day term limit? Earlier is always best, but better late than never. These days, late applicants can land the ideal job.
Sign of Relief
Susan Phillips, CEO, SelectLeaders February 19, 2014
A month and a half into 2014, hiring opportunities posted on the SelectLeaders Job Network are running 16% above January to mid-February, 2013. I asked Marc Torrey, our Global Sales Director, “Think it’s going to keep up?” This is what he’s hearing from our employers: “It’s a terrific market for candidates and employers, the best I have seen in my ten years. It’s good for candidates because there is more hiring happening now than in the past 5 years. It’s also good for employers because not just the unemployed are looking, but the employed are also looking again. They have held down jobs in a down market and are now open to new opportunity. Hopefully this trend continues and companies can bring on employees to get some relief to their core teams that have been wearing multiple hats.” The 2014 SelectLeaders Network Hiring Trends Survey highlighted the demand for multi-faceted skillsets with over 80% of respondents reporting that their company's new hires are expected to wear more than one hat. But for all of you who have taken on more and more responsibility, relief may be on the way.


Can we still make money?
Susan Phillips, CEO, SelectLeaders February 12, 2014
67% of the real estate professionals who took The 2014 SelectLeaders Network Hiring Trends Survey expect their total compensation to increase in 2014. The same percentage, 67%, believed hiring would increase in 2014. There was a basis for this optimism. 54% received a bonus going into 2013, and the same percentage, 54% received a salary increase in 2013. A majority of employers indicated the real estate business is stronger, but were hesitant in hiring and cautious in their optimism for 2014. Obamacare was cited so often, we created its own section of responses with tapering and debt a close second. “Business will remain strong, but we will not be able to increase pricing to clients - it will become even more difficult to control costs, which our suppliers are passing on more quickly then we can ours i.e. Commission & Property Management revenue.” “There is concern/worry over the effects of the Fed's QE policy and Obamacare. Given as such, we’re curtailing any new capital investment and hiring until the dust settles.” “Until governments begin operating to the same financial constraints as industry, the scenario will not change significantly.” Perception can lead to reality – read more of our industry’s collective wisdom “in their own words”.
2014 Hiring Trends
Susan Phillips, CEO, SelectLeaders February 5, 2014
“More capital across the globe is being allocated back to commercial real estate … we look forward to an exciting 2014.” Perception often leads to reality, so don’t miss what your colleagues and competitors had to say in The 2014 Real Estate Hiring Trends Survey Report, conducted industry-wide, in cooperation with 12 leading real estate sites, whose Career Centers are powered by SelectLeaders. "Real estate companies are now very lean and will hire, but hire carefully, in 2014." 67% of respondents believe hiring will increase. But many report hiring takes longer. A rich mix of 1,300 real estate professionals and employers: principals, top-line managers and HR executives – shared their insights on hiring, compensation and, in their own words, the year ahead. “Total comp in 2013 increased substantially, but the entire increase was performance based.” There was a significant shift in what Pay-for-Performance means: "Employees that increase Net Operating Income / EBITDA are rewarded.” Also reported were the first signs of “… a shortage of young talent with any experience, largely due to the lack of opportunities graduating students have had over the course of the last 5 years. We, like others, tend to be reluctant to train new talent when we have to remain lean.” “Companies have been successful doing more with less staff.” Read more of the collective wisdom’s insights on the year ahead.


Super Bowl Fever
Susan Phillips, CEO, SelectLeaders January 29, 2014
SelectLeaders Real Estate Job Network has always been a solid Barometer of the economy, and also of the Stock Market, probably because our industry touches almost every facet of people’s lives. When the number of jobs posted on the site went up, the market went up. Real Estate hiring appears to be a leading indicator of confidence in the economy. Walking down Super Bowl Boulevard (aka: Broadway) in NYC I wondered, could we also be a perfect Barometer of the Super Bowl results. Seattle versus Denver - let’s try it. If you do a Location search on the SelectLeaders Job Network within a 150 mile radius of Seattle the results are 18 jobs. Do the same search for Denver, and the results are 15. You heard it here first - the winner will be Seattle 18 to 15. Even better, the big winner will be you. If you continue searching for jobs on the SelectLeaders Network, you’ll see more diverse jobs at all levels and in all sectors and locations than have been available in a long time. Now go get um!
Yellen against Unemployment
Susan Phillips, CEO, SelectLeaders January 22, 2014
Time Magazine’s cover story of “The Trillion Dollar Woman” pictured fourteen men and the first woman to chair the Federal Reserve since its creation in 1913, Janet Yellen. Under the picture of every Chair was a caption, such as Paul Volker - “Famously tamed rampant inflation.” They already gave Janet Yellen a caption, which got my attention - “Aims to curb unemployment”. Her first priority she states, “is to get unemployment down from 7% to between 5.2 - 5.8% that Fed policymakers believe represents full employment.” The article focuses on her Father, a doctor in Bay Ridge, Brooklyn and how during the Great Depression he treated people, whether they could pay or not, giving her “insight into the effect unemployment can have on people in human terms.” It also told the story of how she met her Nobel Prize winning husband and noted, quoting the former Treasury Under Secretary, “She’s surrounded herself by very bright and powerful men in both her work and personal life”. (Funny, I can’t remember ever reading anything about Ben Bernanke’s father or wife.) The caption under Ben Bernanke was, “Designed the policy that Yellen must now unwind.” (Unwind the Fed’s $75 Billion-a-month purchase of Treasury bonds and mortgage-backed assets.) But she believes the Fed can do more, “that monetary policies can strengthen the economy for workers as well as financiers and bring real (inflation-adjusted) wages up.” The fact she is focusing on jobs and compensation makes me optimistic about our industry and SelectLeaders, and proud to be a woman, who we all know are more experienced at cleaning up messes.


Social Hurdles
Susan Phillips, CEO, SelectLeaders January 15, 2014
The controversy continues over lending companies using LinkedIn and Social Media to see if applicants put the same job information on their loan application as they posted on their LinkedIn Profile, or whether on Facebook, they shared that they had been let go by their employer. According to a recent article in The Wall Street Journal entitled “Borrowers Hit Social Hurdles,” the Fair Credit Reporting Act requires consumer-reporting companies, such as Experian and Equifax, to verify that a borrower’s credit history is accurate if a consumer disputes the information for their credit score. However, companies that use social media in their lending decision do not have to verify that information. And as you may have experienced when you were last hired, companies must receive permission from the applicant before a reputable agency will do a background check. However, all of this is not why we prefer the freedom of a rich resume over a profile. On the SelectLeaders Real Estate Job Network, job applicants can save up to 5 resumes in their account, which they manage themselves. We advise our Real Estate Professionals to tailor their resume to the job they are applying to and highlight their most relevant experience, because it says that I really want this job, not just any job. In the meantime, keep networking. Join a Professional Association and attend their events - you never know who you’ll meet. Some of the best jobs being posted come from our professional association Job Network partners.
Long-term Solutions
Susan Phillips, CEO, SelectLeaders January 8, 2014
Today’s ADP report that private firms added 238,000 jobs in December is an encouraging sign that our slow and steady economic recovery will continue. It certainly reflects the uptick that SelectLeaders Real Estate Job Network experienced in December, and thus far in 2014. Hopefully the good news will focus attention on how to help the long-term unemployed, beyond extending Unemployment Benefits. The complexity of the situation hit home a few years back when we offered a young man who was on unemployment a short-term consulting job, but he was afraid he would lose his unemployment benefits that his family needed. While he probably would not have, his hesitation caused us to hire another consultant, who we ended up offering a full-time position. The easiest entry for the long-term unemployed often is part-time or consultant work where an employer can take a test-drive. We need to make people feel secure that they will not lose their protection, and the need to have retraining programs to increase technology skillsets is obvious to anyone who reads today‘s job specifications. But nothing will solve the problem faster that when confidence returns and we aren’t waiting for the next economic or Congressional report.


"In my beginning is my end."
Susan Phillips, CEO, SelectLeaders January 1, 2014
For all of our employers and job seekers, T. S. Elliot said it first, "In my beginning is my end." We are starting 2014, following a 4th quarter that exceeded all expectations. December, historically the worst month of the year, was unprecedented - compared to 2012, over twice as many job postings were purchased in December, 2013. While SelectLeaders Network has been expecting the best, but planning for the worst, the end of 2013 has made us believers. The pent up need in our industry to hire is about to burst forth. While registrations on SelectLeaders Network by the most qualified real estate professionals has never been higher. 2014, we're more than ready, bring on the real estate jobs!
Pass or Fail
Susan Phillips, CEO, SelectLeaders December 18, 2013
SelectLeaders release of an updated Real Estate School list has been delayed in part because of the constant changes in online offerings or MOOC's. However a recent New York Times article reported, "A study of a million users of massive open online courses, known as MOOCs, released this month by the University of Pennsylvania Graduate School of Education found that, on average, only about half of those who registered for a course ever viewed a lecture, and only about 4 percent completed the courses." The most publicized MOOC experiment, featuring Gov. Jerry Brown of California, a strong backer of online education, San Jose State, and Udacity, a Silicon Valley company co-founded by a Stanford artificial-intelligence professor, Sebastian Thrun, resulted in three low-cost online introductory courses for college credit. But these pilot classes, of about 100 people each, failed. Despite access to Udacity mentors, the online students last spring did worse than those who took the classes on campus. In the algebra class, fewer than a quarter of the students earned a passing grade. The program was suspended in July, and it is unclear when, if, or how the program will resume. The intense publicity about MOOCs has nudged almost every university toward developing an Internet strategy, and the result will most likely be a hybrid of on-campus or small group learning combined with online. Our industry requires intense networking and negotiations to bring all the facets of a development together. Will the next generation in Real Estate learn how to make a Deal work, sitting alone online?


Compensation
Susan Phillips, CEO, SelectLeaders December 11, 2013
December is traditionally a slow month for hiring. But, nothing has performed as expected in recent years. I took a call from a candidate wondering if it was too late to apply for a job that was posted several weeks ago. I said, "Hang up and apply." The competition traditionally thins a bit this time of year. Everyone, including employers, is busier. Chances are companies reviewing resumes are taking a bit longer. The big question is whether compensation is at the same level for today's jobs as was paid before the Great Recession. SelectLeaders Real Estate Job Network's short 9-question "Hiring Trends Survey" will be sent out in a week and we hope that you will have time to give us your perspective on the year ahead, and compensation trends. Interestingly, the percentage of our highest level jobs, over $200,000, remains constant. Yet, we believe compensation overall is still slightly lower. So please fill out our survey and then celebrate. The November Jobs Report and the extraordinary jobs being posted on SelectLeaders is a fabulous way to end what has been a continually encouraging year.
People Analytics
Susan Phillips, CEO, SelectLeaders December 4, 2013
People analytics (“big data” combined with predictive statistical analysis) can forecast the success of workers determining who should get hired, fired, or promoted, according to this month’s Atlantic Magazine. Gilda, a recruiting company for programmers, scours the Web for social forums to see how popular a job seeker’s advice is on the forum, and how widely the advice ranges. They assess the way the applicant uses language on social networks, from LinkedIn to Twitter, looking for online behavior and language - phrases and words - associated with successful employees at prestige companies. They even analyze what one reads online and the sites one frequents compared to a portrait of the ideal candidate. Xerox Services (call and customer care services) uses personality, cognitive, and multiple choice questions on how one would handle specific situations to rate a candidate. Their Hiring Managers are increasingly skipping the interview and going with those with the highest score. MIT has developed “badges” that tag employees and report their tone of voice in conversations, gestures, how much people talk, interrupt, listen and how many exchanges they have (too many is as bad as too few). If I were you, I would apply to one of our great jobs now, before employers want to put a “badge” on you.


Giving Thanks
Susan Phillips, CEO, SelectLeaders November 27, 2013
In the third quarter we saw an increase in Human Resource job postings. New HR hires coming from a different industry, quickly turn to SelectLeaders Network for unequalled access to the real estate community. Soon we will add a snapshot sample of client logos who post on the SelectLeaders Job Network in the various sectors, which correlate roughly with the various Professional Associations in our Network. As I looked down the list of logos, such as AIG and Newmark Grubb Knight Frank (the names have definitely gotten longer), I remembered how hard so many companies struggled in the past few years, and now are succeeding and hiring, and serve as a reason to be thankful for the indomitable American spirit that still resides in our industry. CoreNet Global over the years has brought corporate real estate job postings from companies often not associated with our industry and our logos include: Microsoft, Apple, Google, Jaguar to name a few. SelectLeaders is indeed thankful for the companies that have survived and thrived these past years and for the jobs they bring to our industry. For those who are still looking, don’t give up. The list of companies is growing and the number of jobs is growing.
Male Bosses
Susan Phillips, CEO, SelectLeaders November 20, 2013
A new Gallup Survey published this week found that both men and women would prefer a male boss. This is down from 1953 when Gallup first posed the question, when 66% of Americans said they preferred a male boss, and only 5% preferred a female, for those with a preference. Today, 35% prefer a male and 23% prefer a female, yet of those employed, 54% actually work for a man while 30% work for a woman. It is interesting to note that younger people were true to the survey norm preferring male over female. However, those between 35 to 54 were the most likely to prefer a female. CREW Network, a premier Professional Association partner in our job network, has overseen huge advances for women in real estate in the past decade. Is it possible that young professionals take these gains for granted?


Gloom of Night
Susan Phillips, CEO, SelectLeaders November 13, 2013
The future of the US Postal Service looked bleak, but now that Jeff Bezos stepped in I am feeling optimistic. The news that the Postal Service will make Sunday deliveries for Amazon bodes well for them and their e-commerce strategy, and also for the job market. Not long ago, people made investment decisions on the strength of the product, and the Post Office was a winner on that score. The Post Office vets and tests its employees beyond any of its competitors. Besides, “neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds.” Despite the good news that employers added 204,000 jobs in October, nearly double what was expected, the unemployment rate rose to 7.3% from 7.2% in September. However the real concern is the labor force participation rate drop to 62.8% from 63.2%, the lowest rate since March 1978. For the recovery we all want, we need a lot more Jeff Bezos to not only create new jobs, but help keep the ones people have. Because without a job that “gloom of night” can get you.
Money Talks
Susan Phillips, CEO, SelectLeaders November 6, 2013
Studying the stats behind the jobs posted in 2013, the most seasoned of our qualified professionals are sitting pretty with 5% of the total jobs posted paying over $200,000. 11% of jobs posted thus far this year were for financial analysts, often recent graduates with the latest technology skill-sets. Real estate jobs and employers have doubled on the Network since 2010 and the range of real estate opportunities has increased across all levels, categories and sectors. Consequently, we are seeing a wider range of compensation than in the last few years. Thus the verdict is still out, but early indications suggest, compensation may not have increased at the mid-level. While we celebrate every increase in jobs, there still are a lot of people without one and until it gets a lot more competitive, compensation like the economy may be stagnate.


Gilded Palaces
Susan Phillips, CEO, SelectLeaders October 29, 2013
There are only a few movie theaters left across America from the era when they were gilded palaces with royal red velvet cushiony chairs and wall-high Silver Screens. I saw Bob Dylan play the opulent United Palace Theater on 175th Street in Manhattan in 2009 and the young people around me were amazed that it was originally a movie theater. I was thrilled this past week-end to experience our Entertainment and Leisure sector's vision for the future of movie theaters. According to a recent "New York Times" article, AMC has renovated about 25 movie theaters with huge screens and a person-and-a-half wide, motorized, reclining, La-Z-Boy style chairs upholstered in red sumptuous "leather", which has lifted attendance 84% in these converted theaters. We saw the film "Gravity" in 3-D splendor replete with black Buddy Holly style 3-D glasses that were afterwards recycled. Then rather than flipping to some channel after the movie like we would at home, we walked to a nearby cafe and TALKED about how they did that and whether we would like to retire on another planet. Because the refreshments are expensive, I ordered the small size remembering that's why they call them treats. I 'm a convert. The entire experience was so much better than a movie at home.
Walking in the Dark
Susan Phillips, CEO, SelectLeaders October 23, 2013
The September Jobs Report, like the past several reports, made me think of walking in the dark. Your weight remains on your solid foot, and ever so warily you move the other foot forward. You end up ahead, but ever so slowly and cautiously. The economy has added an average of 143,000 jobs a month from July through September (148,000 in September), weaker than the 182,000 added from April through June. Bob Funk, CEO of Express Employment Professionals, commented on CNBC immediately following the report, on the decrease in compensation his company is observing. SelectLeaders usually sees a decrease in average compensation levels in the 4th Quarter. Most strategic hires have occurred and employers now hire to round out teams and add property management and operations jobs that may have been postponed. What we had not observed before was the notable decrease in single job posting purchases in September. The Urban Land Institute reported 85% of real estate companies are comprised of 15 people or less, and these are the employers that purchase a single posting when hiring. While job posting purchases remained steady and solid on SelectLeaders throughout September, the small and medium size companies were conspicuously absent from the equation. We probably don’t need to look further than the news out of Washington in September to understand this anomaly.


Across the Pond
Susan Phillips, CEO, SelectLeaders October 16, 2013
Real Estate certainly looked healthy viewing a sky full of cranes as we arrived in London. However, reading London’s “The Times” over breakfast gave me an astounding view on what to expect in America. “The top medical official responsible for running the National Health Service (NHS) admitted that the service is at times unsafe for patients because doctors and nurses are spread too thinly, and the NHS faces a 30 billion pound funding gap by 2020.” A just released National Health Service Report to England continues that half the hospitals will need to be shut and downgraded to urgent care centers. This is with taxation today on English citizens making over 150,000 pounds at 45 percent of their income, no quibbles. However, with anomalies resulting in efforts to fix the tax system, some middle class families earning between 50,000 to 60,000 pounds pay as high as 73%. Note that I have stopped grousing about the politicians who are saying you have to figure out how to pay for Obamacare before you implement it. Who says going abroad isn’t mind broadening.
Power to the People
Susan Phillips, CEO, SelectLeaders October 9, 2013
Last night I grew tired of hearing any more from those scallywags in Washington, and flipped on the Science Channel. I learned that the scientists building the Infrared Telescopes capable of viewing the illusive coal-black asteroids that could prevent (or at least warn) of an Asteroid hitting the earth rely, in the meantime, on Twitter to discover when one hits. Twitter is now data mining everything from breaking power outages to providing Nielson with Twitter TV ratings, as well as providing the Media with up to the minute news. Even if the government is not listening to the people, businesses apparently are. Wal-Mart, is marketing “good middle-class jobs, promising to stock more U.S. made goods.” And it is working. Companies are beginning to open plants and hire workers now that they have a market with Wal-Mart intent on buying their goods. Speaking of local goods, how about the craze to buy local produce labeled with the exact number of miles food traveled to get in stores and on restaurant menus, and there is even more hope. Pendleton, and now Brooks Brothers advertises “shop our selection of American-made classic clothing and show your American Pride.” Even if the politicians are putting job creation on the back burner, the people can move it to the front. Might make sense to stop supporting the politicians and take the savings to buy (even if they are a tad more expensive) “Made in America” goods, because job creation can solve most of our country’s problems, even if the politicians can’t.


September Jobs Report
Susan Phillips, CEO, SelectLeaders October 2, 2013
The Government shutdown means that there will be no Labor Department Jobs Report this Friday. Today’s ADP Jobs Report, solely on the private sector, may be the only source of data, and they just reported that 166,000 private sector jobs were added in September. This is at the lower end of the 150,000 to 200,000 private sector jobs consistently added in the last six months, with the last three months being on the lower side of the range due to mortgage rate increases. Construction showed the greatest job increase, with financial activities being the only category down due in part to mortgage rates. Small companies (fewer than 50 people) had the greatest number of jobs added. September hit the 2013 record level for job posting purchases on the SelectLeaders Job Network. Construction and Development was strong which went hand and hand with Property/Facilities Management job increases. October is usually budget month for companies when next year’s job posting packages are usually purchased, so we anticipate another strong October. However, the one thing we seem to be able to count on is instability in Washington, so if you are intent on making a move in the next six months, I would not wait for 2014. I would apply to one of the great jobs on the Network today. Who knows, the ceiling could fall on your plans.
“The Case Against High School Sports”
Susan Phillips, CEO, SelectLeaders September 25, 2013
Atlantic Magazine’s recent article “The Case Against High School Sports” is thought provoking for the future of America’s workforce. America has not found a way to dramatically improve its children's academic performance over the past 50 years, but other countries have - and they are starting to reap the economic benefits. Everyone knows the arguments for America’s emphasis on school sports: exercise, lessons in sportsmanship and perseverance, school spirit, and just plain fun. Some schools are diverting funds to campus-wide health-and-fitness programs rather than expensive, elite sporting competitions with rival schools, citing that more than 20 countries have better high-school-graduation rates than we are, with nominal athletic offerings. “The United States routinely spends more tax dollars per high-school athlete than per high-school student - unlike most countries worldwide. And we wonder why we lag in international education rankings?” Kids see how we spend our money and who is glorified in the press, and they know what to value.


Love or Money
Susan Phillips, CEO, SelectLeaders September 17, 2013
Given a choice for your first job, would you have chosen success and opportunity, or feeling appreciated and loved? In other words, would you rather have worked for Steve Jobs, or your mother? eharmony, the dating website, announced a curious line extension: it has begun work on a job recruiting service expected to launch in 2014. In their view, soft skills and "cultural fit" can be better predictors of a good hire than education, experience and career goals. The Media has written much about the Millenials' belief that work should be more than a paycheck but also an expression of who they are, what they believe, and what they stand for. Sounds a lot like what us Hippies said at the same age… and actually what SelectLeaders still believes today. The US has a 50% divorce rate, making America number one in the world for bad matches. Compare this to the recent Society of Human Resource Management (SHRM) Employee Job Satisfaction Report, "In 2012, 81% of U.S. employees reported overall satisfaction with their current job." Coming from an advertising background I was always amazed by how people would move from one agency to another and depending on the agency their work would morph from very creative, to very strategic and targeted, proving Darwin's theory that only the adaptable survive. To quote Mario Puzo in "The Godfather,” “It's just business nothing personal...”
On Approval
Susan Phillips, CEO, SelectLeaders September 11, 2013
I remember a world before credit cards. When I was a child retail stores would allow my mother and me to take home garments we tried on, before they were paid for, “on approval,” and if not returned in two weeks, my father would be billed. Today, according to the Labor Department, the number of people working Part-Time (because they couldn’t find full-time work) fell in August, and full-time employment rose. This suggests that the recent surge in Part-Time workers was either an anomaly, or that employers hired Part-Time workers who were brought in “on approval”. If your schedule allows you the flexibility, consider suggesting you’d be willing to come on board as a “consultant” while the employer finalizes their search. The Labor Department’s August Job Report indicates hiring has not slowed (it was better in August than it was in July), but has not picked up either, remaining consistently under 200,000 jobs per month. It may be easier to get your foot in the door at the consultant or Part-Time level until the position is permanently filled. Retailers today may not remember, but items “on approval” were rarely returned, because unlike online shopping, the items had been tried on first.


Leadership
Susan Phillips, CEO, SelectLeaders September 4, 2013
In recent global headlines, the issue of Leadership is front and center, political leadership of course. Reading about Japan's nuclear issues, corporate leadership will also significantly determine what happens to our planet. The premise behind SelectLeaders Network Leadership Assessment, which can be found on our Home page and on all our partners' Career Center Home pages, is that we need to prepare our leaders for ANY future. Few people handle change well, and just as few are being developed to deal with it. Scientific studies reveal that the best way to deal with accelerated change is with fundamentals that don't change much if at all. Our Leadership Assessment encourages the user to build on their core competencies, which the assessment highlights in a full report. Whether you are the top leader, or a successful employee, you will be grounded when change occurs and rely on what has proven effective for you. You can take our Leadership Assessment in 15 to 20 minutes and start to overcome your barriers to success.
Upward Trend
Susan Phillips, CEO, SelectLeaders August 28, 2013
I am predicting that the August Jobs Report will continue on an upward trend despite occurring in the Dog Days of summer. Frankly, even we were pleasantly surprised to see August hiring and job posting purchasers remain high. SelectLeaders Job Network consistently has been an accurate barometer of the US job market, because the Real Estate industry touches almost every aspect of people’s lives. But regardless of the accuracy of this forecast, one thing is for sure, there are some exceptional jobs posted at his moment in time. Please rest and enjoy the upcoming Labor Day week-end, but get your applications in now, so you have something really incredible to celebrate. We also urge you to be ready for the Fall Hiring Season, and the usual upsurge in September and October hiring in anticipation of the HR budget season. Try our Free Resume Critique, and be ready to apply. We also offer the services of Certified Resume Writers, who guarantee that you will get an interview in 30 days or they will rewrite your resume for free.


Lost Online
Susan Phillips, CEO, SelectLeaders August 21, 2013
Our Founder, Anthony LoPinto, in his Executive Watch article on GlobeSt.com has been reminiscing about what has been lost to online: Kodachrome, envelopes, telegrams, and possibly ad agencies. I was not concerned until I read in the New York Times that next January, the Georgia Institute of Technology plans to offer a master’s degree in computer science through massive open online courses for $6,600 — far less than the $45,000 on-campus price, and a first for an elite institution. As a parent, the escalation of college tuition is overwhelming, but I also realize that the growth which comes from discussions with so many smart people, with no other agenda but to learn, is priceless. The interaction alone is an education that readies you for employment. But the $38,400 difference in price isn’t chopped liver. Universities need to offer a hybrid. Use online to cover the basics, maybe even for mass lecture courses by renowned professors. A blend of online and college experiences obviously can reduce costs. However, the discrepancy in pricing for the same degree is not the choice students, and parents, should face. The complete education that one gets in a university environment apparently can be offered for less. Higher education should not go on the list of what has been lost to online.
Euro Recession ENDS!
Susan Phillips, CEO, SelectLeaders August 14, 2013
Growth in Germany of 0.7%, and 0.5% in France, the strongest advance for France in two years, ends the euro recession. The 17 countries that use euro saw collective economic output grow by 0.3% between April and June, ending six-successive quarters of economic contraction for the single-currency bloc. What can America learn? First, there was a single goal: growth of the economy. Second, before bail out money was given, austerity measures to tackle huge debt piles were demanded of every country, even if they slowed growth. Third, instead of threatening Germany, they asked the richest and most successful among them to take the lead, which might be the best approach with America’s top 1%. And most importantly, the European Media is willing to publish that the glass is half full. Headlines in Europe ecstatically announce the end of the recession. American Media remains negative, “For now, tempting as it may be, it might be better to keep the champagne on ice and pop the cork only when the euro zone is into a more sustainable recovery."


Stagnation
Susan Phillips, CEO, SelectLeaders August 7, 2013
The fact is for millions of workers, wages have remained stagnant. In 2001 wages accounted for 49% of the nation’s Gross Domestic Product, but last year fell to a record low of 43.5%. According to the Economic Policy Institute, productivity has risen 23% since 2000, while real hourly pay has essentially plateaued. New technologies have raised productivity and profits while enabling employers to shed workers and slice payrolls. For professional level real estate jobs, SelectLeaders Network has seen compensation inching up after decreasing approximately 20% at the beginning of the Great Recession. Entry-level compensation fluctuates with the job. But overall, wages lag. We need a win-win solution. Admittedly, company profits are going to rising health care costs, and after years of cost cutting, companies need to invest for the future. At the same time, unless a portion of profits go to wage increases, how are we going to keep filling those apartments, workplaces, and malls?
Fund for Public Education
Susan Phillips, CEO, SelectLeaders August 1, 2013
Construction jobs thrived in the Minnesota town where I was born in the last few years with a major redevelopment of the public schools. Schools combined and totally redeveloped with modern classrooms and state of the art science and technology facilities. Next I hope that Mayor Bloomberg’s educational experiment in New York City, where the public schools are raking in private funds through the Fund for Public Schools, is emulated everywhere. This year alone, donors gave $47 million dollars to the Fund for Public Schools in New York City. Thanks to Facebook founder, Mark Zuckerberg, Newark, New Jersey public schools received $100 million. The NYC fund has given grants for traditional projects like libraries and after-school programs, but it also bankrolled potentially controversial pilots of new curriculum standards, teacher evaluations, and an experimental method of using technology to teach math. Corporate run Charter Schools have done an excellent job of setting benchmarks for running schools efficiently, but I am rooting for the comeback of the American Public School System. My husband and I are products of the public schools and there is no better teacher than a public school education to learn to work successfully with different abilities and interests like you will encounter in the real world. To compete in today’s global economy America needs an educated electorate, and the Fund for Public Education seems like a great way to ensure an excellent education for everyone.


Follow the jobs
Susan Phillips, CEO, SelectLeaders July 24, 2013
“Growth Outlook Stuck in Neutral – Forecasts Trimmed as Spending Slows” reads the headline in the Wall Street Journal this week. But reading between the lines I wonder … especially in light of the one unchanged force: “the pace of private-industry job growth remains steady.” I have been amazed at how accurately the number of job postings on SelectLeaders has been a barometer of the general economy in the past four years. Again, SelectLeaders is right on target for summer job postings, when hiring always slows in part because vacations both on the employer and candidate side hold up the hiring process. One big worry is the Public Sector eliminating jobs at this time. I am not suggesting that the government should not run as lean as possible, but what happened to the infrastructure and other initiatives that are so badly needed in our country and would help decrease unemployment? If the last four years holds true, the solid steady growth in private sector jobs will be predictive of a slow but steady growth in the economy throughout 2013. I say, “Follow the jobs,” like the ones below.
What’s good for you
Susan Phillips, CEO, SelectLeaders July 17, 2013
Last week we read that “Unemployment may be good for the economy.” The thinking being that further improvement in the outlook for the labor market would be required before the Federal Reserve would slow the pace of bond purchases. Unemployment good? This week we hear about a “Housing Surge brought on by a sharp spike in mortgage rates to levels not seen in two years.” I, who 26 years ago, birthed who is now a prospective “first time single family home buyer” can tell you this is not a surge, it’s a feeding frenzy. Young people better anti-up full price offers or you lose a house in a day, with everyone trying to get into the game before the rates get worse. An increase in mortgage rates from 3.5 percent to 5 percent is an approximately 15 to 20 percent decrease in what the average home buyer can afford. First the Millennials could not get jobs and now they may not be able to buy places to live. While SelectLeaders is thankful that the economy and hiring is looking up, we need a lot more people with good jobs buying houses with a few bucks to spare. Unemployment and spiking costs are never good and the powers that be need to change their tune to what’s good for you’s good for me.


Unpaid Internships
Susan Phillips, CEO, SelectLeaders July 10, 2013
I was just about to write about “The Jobless Trap,” Paul Krugman’s article in the New York Times where he suggests, “We are creating a permanent class of jobless Americans.” Then a disgruntled customer service email came in about allowing not only Paid, but Unpaid, Internships to be posted Free on our website. We have written in the past about the legalities that have to be followed for an Internship to be unpaid under the Department of Labor Guidelines including: the position cannot replace employed workers, and must benefit the Intern rather than the company. The stats are definitely more impressive for paid Interns – over 60% receive a job offer at the end of their Internship, compared to 37% for unpaid Internships. Large companies use paid Internships as part of their recruitment programs and they compete for the students with the top grades. However if maturity came a little later and one’s grades do not reflect future abilities, a test drive as an unpaid Intern has always been one path to success. SelectLeaders urges companies to pay at least the minimum wage, but our mission is to provide the best real estate job opportunities possible and to attract and develop the most successful talent, so we will continue to do everything we can to prevent a permanent class of jobless Americans.
Old Economy Hiring
Susan Phillips, CEO, SelectLeaders July 3, 2013
Don't use the Old Economy Model to hire in the New Economy, especially if you are looking for candidates with 2 to 3 years of experience. The kids living in their parents' basement, or going to Graduate School directly after college, or who joined the Peace Corps (or other Community Services) or took part-time jobs, are now in demand. But some employers are still thinking they can use the Old Economy requirements - "We require 2 to 3 years of similar job experience," or "We do not hire entry level people with Master's degrees." Try changing your question from where have you been working, to what were your accomplishments in the past few years. You will be amazed at the quality of talent out there. And this goes for all levels of hiring. You want to hire people who know how to seize an opportunity, and the best opportunity in the past few years, if you were not in a job, was to do what you always wanted to do so you were ready and invigorated for when the economy came back. We hope that HR people will be given the latitude to truly find the best people for the job. The New Economy requires a razor sharp focus on what is truly important, what opportunities are out there, and what will be the most successful decision in the long run. Many of the people who were out of the economy in the past few years are spot on.


Independence Day
Susan Phillips, CEO, SelectLeaders June 13, 2013
This weekend I took a New York City Water Taxi and gazed on the final segments of the enormous Spire that was placed into position in the past few weeks, crowning New York's One World Trade Center -- which replaces the Twin Towers destroyed on September 11, 2001. The spire topped off the building that will become the tallest in the western hemisphere, hitting 1776 feet, in honor of the Declaration of Independence dated July 4, 1776. One of our industry’s finest developers, Larry Silverstein, deserves kudos. Even now, despite the ups and downs of the current Stocks and Bonds Market, this Fourth of July will be special, particularly for those who lost someone on 911 and can witness the strength of the American spirit.
The Unemployed
Susan Phillips, CEO, SelectLeaders June 12, 2013
The Cornell/SelectLeaders Job Barometer Report will be released this week heralding a 25% increase in real estate jobs in 2013 compared to 2012. This increase is on top of the 27% increase in 2012 compared to 2011. With unemployment slowly moving downward, I was basking in hope and good feelings about our industry, when I received an unexpected email that read: Effective June 11, 2013 New York City - being unemployed is a protected class under New York City Human Rights law. Employers, therefore, are prohibited from basing employment decisions on a job applicant’s unemployed status. However, employers may inquire into the circumstances of an applicant’s separation from prior employment, but employers please proceed with caution. Penalties for violations are steep and can run up to $250,000, and any person who violates an order of the Commission on Human Rights can be found guilty of a misdemeanor punishable by up to one year in prison. I still have not given up on job creation as the solution for unemployment and am hopeful that the Great Recession, like the Great Depression which my mother went though, will also end. But believe me you will not hear anything more about the unemployed or long term unemployed from me.


So why doesn’t it feel like 2007?
Susan Phillips, CEO, SelectLeaders June 5, 2013
In May, SelectLeaders had more jobs posted on the site than we had on average in 2007, the benchmark year for job creation in our industry. We are thrilled about the additional opportunities for everyone who has been searching for a job, and also for employers who will finally have the support they need to truly succeed. However, even though we pride ourselves as the ultimate glass-is-half-full people, somehow it just does not feel like 2007. Even the pundits sound wary about the stock market despite the record highs for months up to and continuing through May. The economy improving is the only way we will have the resources to overcome the big problems America faces. So join SelectLeaders in celebrating the continued rise of job creation, and the improving economy, and hoping for happier news for everyone in the future. Who would have thought that endless months of the Monica Lewinski hearings would be looked back on as the good old days?
Benefits of Working
Susan Phillips, CEO, SelectLeaders May 29, 2013
Job creation took another hit, and this time a little too close to home. I doubt that many companies budgeted for the shockaroo of a 30% increase in the costs of their Benefits Plan with the launch of “The Patient Protection and Affordable Care Act,” which the media coined Obamacare. SelectLeaders planned and budgeted to hire as soon as our latest technology initiative is launched. Instead the money will be shifted to the increase in Benefit Plan costs. I believe in providing the best health, dental, and vision benefits possible, because of the return on investment. A healthy employee with a healthy family is a more productive employee. Like most employees in our industry, the SelectLeaders team was willing to do the work that 2 or even 3 people did before the “Great Recession” so the company could succeed. Together we saved and grew the business to the point that we could hire again. Instead the money will go to make the benefits of not working, equal to working, while I would prefer to give more people ALL the benefits of a challenging, well-paid job. That’s my American Dream story, and I am sticking to it.


Hire a Millennial
Susan Phillips, CEO, SelectLeaders May 22, 2013
In technology one works closely with Millennials, and as Time magazine’s cover story suggests, they well may save us all. We hope that your company is taking advantage of our Free Internship Job Postings to hire a Millennial. Tom Brokaw calls them the "Wary Generation" putting off careers and marriage, but he loves their optimism. Time questioned if they are in fact the greatest generation of optimistic entrepreneurs. Warren Buffet is obviously a fan and recently shared some great career advice with Millennials. "If you tell me who your heroes are, I will tell you how you are going to turn out." For Millennials, who grew up on Reality TV, their heroes are themselves, so they feel entitled to email the CEO and ask for an hour of his time. Their sense of entitlement, neither resenting nor respecting authority, combined with their love of tinkering and pragmatic idealism may be what it takes to solve today's daunting issues. They are not looking for leaders. They, as a group, are changing everything with just a Tweet. Post a free Internship now and hire a Millennial. Their optimism can be contagious.
Confidential Postings
Susan Phillips, CEO, SelectLeaders May 15, 2013
The April Jobs Report and Labor Department upward revisions to first quarter data confirm that hiring has picked up in 2013. For SelectLeaders Job Network this means that an employer should now think long and hard before listing their Company name as “Confidential”. Our research shows that a company actually decreases the number of applications by 20% if they do not list their Company name and post their job confidentially. Only a few situations warrant a confidential posting. The first is when a company is replacing a current employee without his or her knowledge, and the second is when an Executive Search firm is looking to fill a position. However in 2009, many employers who were inundated with calls and unsolicited and irrelevant resumes started to hide their identity and posted confidentially. Desperate job seekers would call us and try to find a way to circumvent the hiring process and contact the Company directly, so we understand why companies, who themselves had less HR personnel, started listing their Company as “Confidential”. Today, the job market, while still not what it needs to be for a truly robust economy, has stabilized and job seekers are willing to go through the normal channels. My recommendation to employers is increase your chances of finding the best talent by listing your company name when you post a job. The 20% who are not applying to your ‘Confidential” posting may be the superior talent your company needs to succeed.


SPRING CLEANING
Susan Phillips, CEO, SelectLeaders May 9, 2013
Who’s Hiring in your sector? Are your competitors hiring? Is your sector becoming the hiring hot spot? Job Alerts keep you in touch with what is happening in your area of expertise. One of the advantages of SelectLeaders is that you can save your job search as a Job Alert just by clicking on the link at the top of the advanced search box. But sometimes you do not want to keep some of those Job Alerts coming. Because SelectLeaders does not set up your Job Alerts, and you do, we cannot stop or edit them, but you can. Login to your account and delete the Job Alerts that you no longer want to be emailed to you. Can’t remember your password or username? Use the Forgot Username/Password function or email us at support@selectleaders.com and start the summer with the slimmest, trimmest Inbox.
Resume Keywords
Susan Phillips, CEO, SelectLeaders May 1, 2013
Warning: the following is my personal advice, I strongly suggest you take the Free Resume Evaluation by our Professional Resume Writing Service that guarantees interviews in 30 days or they rewrite your resume for free! Many articles recommend featuring keywords in your resume, but job seekers ask, “How do I know the right Keywords to feature?” First, go to our Advanced Search dropdown list of Categories and then Sectors; create a list in which you have experience. SelectLeaders has 73 real estate categories to choose from, so most candidates are surprised by the number they can include. Then, rank your list by extent of knowledge. These are the keywords that you feature, depending on the job description. Now go to the job you are applying for and if the exact words in the title apply to your experience, conform your wording to theirs. The keywords that need to resonate in your resume will be found in the Qualifications and Responsibilities sections. A job posting for an “Analyst” may ask for “Underwriting” experience. If you have Underwriting experience, make certain it is front and center in several places on your resume along with Analyst from the title. Experts disagree on the perfect Resume format, but I like a summary paragraph in the beginning, where a job seeker lists their successes and accomplishments. It also allows you to re-emphasize those keywords. Remember, the employer approved the job title and description, and this is your first chance to give your potential employers exactly what they want.


The Professionals
Susan Phillips, CEO, SelectLeaders April 24, 2013
Everything that can be done, to jumpstart job growth in the real estate industry, will be done, in the months ahead, is the take away from recent meetings with our Professional Association partners in the SelectLeaders Job Network. The stakes are high; our industry lost 2 years of new talent, and sent valuable experienced talent looking elsewhere, or nowhere. However, unlike the recession of the 1990’s, we did not lose an entire generation to other industries, not yet anyway. If our meetings with the ten industry Professional Associations in our Network are any indication, it’s not going to happen. NAREIM is leading a charge for members to post Intern Jobs – you can post all Intern jobs for free on the SelectLeaders Job Network. BOMA reported that job seekers with Hospitality experience make outstanding Property Managers, and Veterans, especially Navy Veterans, make exceptional Building Engineers. And, opportunities are available in both job categories. So, enjoy the privileges of membership, please take advantage of the discounted pricing on job postings and job posting packages when you register and post your jobs on our Professional Association Career Centers. And let’s get more talent working in our industry again.
What do women want?
Susan Phillips, CEO, SelectLeaders April 17, 2013
A recent Wall Street Journal/NBC News poll reports that 84% of women say men are paid more for similar work. Their view borne out by government data drew agreement from only two-thirds of men. More than four in 10 women say they have faced gender discrimination personally, most often in the workplace. Both findings are little changed from a 1997 survey. Despite the perceived challenges in the workplace, a growing number of women now say they can strike a balance between work and home life. The share who say most women can't "have it all'' without making a lot of sacrifices at work and at home has fallen from 78% in 1997 to 66% today. While the 1999 survey found that families identified a wide range of social and moral issues as serious problems, 84% in the latest poll called economic pressures very serious or fairly serious problem. SelectLeaders Job Network knows what women (and men) want. A well-paying job … and when companies can afford a few more hires, balancing work/life will become even more possible.


Austerity
Susan Phillips, CEO, SelectLeaders April 11, 2013
If the Bureau of Labor Statistics March Jobs Report trend continues, we could see the third consecutive spring that job growth has slowed after good growth through the winter. The March report showed U.S. employers hired at the slowest pace in nearly a year, adding only 88,000 jobs, while wages remained flat. How did our industry fare? SelectLeaders Job Network is usually a good barometer of the health of the real estate industry, and 2013 started with an explosion of job posting purchases in January - more than any other month in the past four years. February was solid and came in as projected. March started tenuous, but continued the trend, resulting in a 10 to 12% growth in posting purchases, thus far, over 2012. And, 2012 was a benchmark year - the best year for real estate jobs since the “Great Recession” began in 2008. As the Huffington Post frames the March Jobs Report, “Austerity may be starting to squeeze the life out of the job market.” Our industry survived on austerity, after many others recovered. We are now playing catch up. For example, Development and Construction jobs were almost negligible until 2012. As our industry continues to recover, we anticipate job growth, because companies have been functioning so lean, they almost have no choice but to hire.
Silence is Golden
Susan Phillips, CEO, SelectLeaders April 3, 2013
No news may be good news if you have applied for a job but have not received a response. When you apply through SelectLeaders Job Network, we immediately inform you that your application has successfully been sent. But of course what you really want to know is has the position been filled yet? Am I still in the running? The answer may be yes to both questions. A company could use 3 more people but gets budget approval to hire only one. Talent Acquisitions posts the job which stays active for 60 days or until the employer takes it down. They hire one applicant, and often hold on to the rest of the resumes, waiting for budget approval to hire the other two. We are seeing this phenomenon for the past year, so don’t give up. But the even better news is that SelectLeaders Network is acknowledged for the “most qualified candidates”, so you very likely could get an even better job in the meantime, like one of the ones below.


Courage
Susan Phillips, CEO, SelectLeaders March 27, 2013
What is our industry’s top Leadership strength? According to the nearly 500 Real Estate Professionals, including President’s and CEO’s, who completed the SelectLeaders Network Leadership Assessment (available on our Home page), the answer is ... COURAGE. Those who made it through the 2008/2009 “great recession” are by virtue of survival poised for success, and not surprisingly describe their two top Leadership characteristics as: 1) making tough People calls and 2) making tough decisions. 70% report their top Hidden Strength is: Keeping on Point. Take the SelectLeaders Network Leadership Assessment and learn how to overcome your barriers to success. Then, ask others to assess you. You might need a little of our industry's courage to finish, as it takes about 15 minutes to complete, and you are required to rate your weaknesses. Personally I thought that the results were spot on, and they made solid suggestions on how to improve. And … our industry has the courage to improve!
Reboot
Susan Phillips, CEO, SelectLeaders March 20, 2013
Arianna Huffington remarked, "Last week at the World Economic Forum in Davos, I was struck that the most talked about session was called The Mindful Leader." It seems like everyone works in a global economy that measures time in Internet seconds. The focus is on the urgent at the expense of the important. Most people grab a day here or there for vacation never taking the time to reboot and be totally unavailable. Purportedly, American Express in the 1920’s was the first company to offer employees a 2-week paid vacation, and required that they take the entire 2 weeks at one time. Experts now tell us that is what it takes to reboot, a solid 2 week stretch, rather than a few days here and there that has recently become the norm. So the next time you find yourself frustrated and hurriedly shuffling from one meeting, call or task to another, try to slow down, take a step back and give yourself a chance to think about what is really important … but not until you look at the jobs below.


It’s Who You Know
Susan Phillips, CEO, SelectLeaders March 13, 2013
Have you heard about relsci.com? If you question making your resume public so employers can search for you, even if you are not actively looking for a job, wait until you hear what’s coming down the pipe. RELSCI stands for Relationship Science, and is a personal information aggregator on steroids. relsci.com maps you and your relationships to over two million of the most influential people and organizations in the world: who they are and who they know, what you have in common with them, and most importantly, how you can gain access to them and their organizations. They provide information on work history, board connections, deal history, education, non-profit donations and affiliations, political donations, personal interests, creative works and awards, business relationships, and relevant familial connections … including children. They list presentations given, so don’t entitle your speech “How to have sex in the office” when you mean how to add sizzle to your sales presentations. And to think that I thought the Top 1% were now personae non gratae.
The Name Game
Susan Phillips, CEO, SelectLeaders March 6, 2013
The phone rang just as I was leaving the office. It was an employer that posted a lot of jobs, “We are always successful posting on the SelectLeaders Network, but are getting poor results on this last job.” “What’s the job?” I asked. “Revenue Manager” was the response. I later asked our founder, “What’s a Revenue Manager?” “I don’t know,” he said … (he didn’t know?!) “I think they mean a Portfolio Analyst/Manager.” It reminded me of my favorite quote from George Eliot’s Middlemarch, “We have all got to exert ourselves a little to keep sane, and call things by the same names as other people call them by.” Making certain the job spec that you post, and the job title in particular, is dead on is vital to your success when posting a job, and on the flip side the success of a job seekers resume. Today, SelectLeaders sends between 700,000 and 900,000 Job Alerts every month to job seekers who have signed up to be notified when a job that fits their search criteria is posted on our Real Estate Job Network. If you are looking for a Portfolio Manager and would prefer a candidate that is currently employed, these candidates will probably not hear about the job, because they only get emails if Portfolio Manager jobs are posted. Take a look at the Job Titles in our Advanced Search Category and Sector dropdowns; they pretty much span the gamut of real estate jobs titles in our industry.


The Best Teacher
Susan Phillips, CEO, SelectLeaders February 27, 2013
Sunday, February 24th non-stop news about the Sequester began. Dr. Gupta led the parade early morning on CNN with the impact on Healthcare. By Tuesday, the new media had threatened the well-being of every segment of society. Not surprisingly, we watched job posting purchases start to waiver, and just after hitting the highest number in January since the economic meltdown began. The stock market stumbled with us, some say because of issues in Europe. However, after watching job postings rise and fall in tandem with the stock market last year, I have a strong belief that all the talk about the effects of the Sequester is a likely suspect. Thankfully our partners in our Real Estate Professional Association Network provided a ray of hope embarking on a concerted effort to encourage members to create and post Internship opportunities. The result – double the number of Internships on the site in the past month. Don’t forget you can post all Internships absolutely FREE on any Career Center in the SelectLeaders Job Network, because experience is the best teacher.
Angsting
Susan Phillips, CEO, SelectLeaders February 20, 2013
Obviously you should avoid spelling or grammatical errors in your resume, so definitely take the time to try our Free Resume Critique. However, perfection may actually keep you from landing a job. Recruiters tell us that when you apply matters, “Hires usually come in during the first two weeks after posting.” The good news is recruiters and employers value substance over form. So if you have the truth and no glaring errors, upload your resume and check the box to make it searchable. While you continue to tweak and polish your resume, (and possibly use the services of our Professional Resume Writers) employers may reach out to you for an interview.


Quicker Bigger Faster - Relax
Susan Phillips, CEO, SelectLeaders February 13, 2013
Americans left an average of 9.2 vacation days unused in in 2012 - up from 6.2 days in 2011. According to the New York Times article by Tony Schwartz, CEO of The Energy Project and author of Be Excellent at Anything, human beings are designed to pulse between spending and recovering energy, ideally in 90 MINUTE CYCLES. "We sleep in cycles of roughly 90 minutes, moving from light to deep sleep and back out again, and research discovered that this cycle recapitulates itself during our waking lives". However, it is not how long, but how well, you renew that matters in terms of performance. In his consulting for top companies including Coca Cola, Google, LAPD, and Cleveland Clinic, Mr. Schwartz advises companies to provide areas where employees can nap, meditate, and relax. Work hard for 90 minutes then take a break, leave at 6 PM and not be expected to answer emails in the evenings or weekends, and all employees should receive 4 weeks of vacation. Everyone in our industry doing the work multiple people did in the past (see SelectLeaders Network 2013 Hiring Trends Survey Report) know too well that Energy Management is an issue we all increasingly face in our jobs.
Defunded
Susan Phillips, CEO, SelectLeaders February 6, 2013
New York Mayor Michael Bloomberg recently made his 1.1 billion dollar donation to his alma mater John Hopkins public “to encourage greater charitable giving toward education (because) in our society we are defunding education.” Our industry is rich in outstanding Programs in Real Estate, like this week’s Job Blast sponsor - John Hopkins MS in Real Estate, a remarkable program. Click on any job below to see our Job Results pages sponsored by Georgetown University’s exceptional School for Continuing Education. Information on SelectLeaders regarding how our industry defines Job Sectors and Categories is courtesy of Cornell University Baker Program in Real Estate, recently endowed by a gift from the Baker family. Our son, who graduated from the (Real Estate named) Opus School of Business at the University of St. Thomas in Minnesota now works for a company owned by Gary Holmes who has contributed millions to several Minnesota educational institutions. So please consider supporting the Real Estate Schools listed (and soon to be updated) on our website. As Mayor Bloomberg said, "I am a big believer in giving it all away - the best financial planning ends with bouncing the check to the undertaker."


Completely Confidential
Susan Phillips, CEO, SelectLeaders January 23, 2013
I waited for a colleague to finish a customer service call while he explained that you can check a box to keep any Resume on SelectLeaders completely confidential. Frankly, I believe almost everything in the News today should be kept confidential, let alone one’s personal information, however I wanted to take the phone and say, “Are you crazy, everything about you is already all over the Internet.” (This is why they don’t have me answer the phones.) In 2009 everything changed. Social Media Profiles had gained ground, and the stigma of having your profile and resume “out there” disappeared amidst the economic meltdown. There was no assurance your company would be around, let alone your job, so having one’s profile and resume “out there” completely lost any stigma and became the norm among employers to this day. While sometimes I believe SelectLeaders may be the last place on earth that everything about you can be kept confidential, and never sold, never told, Personally I recommend that you go with the flow and make your resume public and let employers search and offer you a great job. You can always say no.


A House Divided
Susan Phillips, CEO, SelectLeaders January 10, 2013
Perception often leads to reality, so in the final weeks of December, the SelectLeaders Network sends out our annual Hiring Trends Survey. About 900 real estate professionals and employers – principals, top-line managers, and HR executives – share their perspectives on the year ahead. This year’s survey report, which will be out in the next few days, contains some very insightful strategies and data for 2013, but nearly every respondent also took the time to share their exasperation with the government. Now is my turn. For the past 3 years, we anxiously watched our industry pull itself back up from 2009. By mid-2012, we finally saw every sector start to hire again, and by the end of the year, more senior-level opportunities emerged. During those years, we took the risks to “Paint the counter when the customers were gone” – in other words invest anything we made into new technology, so we would be ahead of the game when the recovery began. Now that we are all finally poised to make up some of our losses, the Government still has no approved budget, and our leaders are doing everything possible to divide the country. Like Lincoln said, “A house divided against itself cannot stand.”
Job Search
Susan Phillips, CEO, SelectLeaders January 3, 2013
Searching for a job on SelectLeaders Network hopefully just got easier. After a huge technology push in the final months of 2012, we are starting the New Year with a revamped Search mechanism. When you type in a keyword search, the related searches now consistently follow. Type in Property Manager and your results will not only be followed by Property Management jobs, but because of the blurring of lines between job sectors and categories and functions, we follow these results with related jobs. In the case of Property Management we end the results with Asset Management opportunities. Over the Holidays I told my son, who actually got his current job applying on SelectLeaders, all about these improvements. He said, “I just looked through all the jobs … never know.” If you follow us on Facebook or Twitter, tell us what you think. Regardless of how you search, the SelectLeaders team wishes you a happy and prosperous New Year in the perfect job - whether the one you are currently in becomes even better, or you find one with our new improved job search. Or, like some people I know, you simply look at all of our jobs.


Optimism of Youth
Susan Phillips, CEO, SelectLeaders December 19, 2012
Perched on the edge of the Fiscal Cliff, and overwhelmed by the Newtown, CT. tragedy, one of the worst ever to face our nation, I asked our newest and youngest employee who heads up our Social Media efforts on Facebook and Twitter, "Whatever can I write about in this week's Job Blast Insider's Perspective?" Our Marketing Manager suggested that we wind down this year with the optimism of the 2012 Cornell/SelectLeaders Job Barometer Report. This assessment of the commercial real estate job market shows job posting opportunities rose 32% over 2011. A slow and steady improvement has been seen in nearly all sectors with Retail and Multi-Family leading in 2012, with 22% and 15% respectively. As we contemplate what needs to change in the future, I hope you too will experience the optimism of youth, and remember the good in 2012.
Cure for Dysfunction
Susan Phillips, CEO, SelectLeaders December 12, 2012
Former Senate Republican Leader, Trent Lott, in an interview on CNN was asked to name one thing to fix the dysfunction in Washington. "Sit down at a round table and talk." He explained that a lot of Senators don't bring their families up to Washington anymore. They fly in with just enough time to meet. But according to Trent Lott that is not how deals get done. "We sat down and talked with each other. We didn't fly in to meet. We spent time together; we knew each other. We liked each other across our differences." Could this be the cure for dysfunction in companies also? Bring all the people who are increasingly working at home on computers into the office to work, and as Lott suggested, "Sit down at a round table and talk."


2012 Job Barometer
Susan Phillips, CEO, SelectLeaders December 5, 2012
The 2012 Job Barometer- An Assessment of the U.S. Job Market in Real Estate - is now available on our Job Network under “Resources”. It is more optimistic than past reports, especially if you are ready for the C-Suite or have less than 5 years of experience. "Don’t be caught in the middle," is what the politicians and hiring trends seem to be telling us. However I remember not that long ago when both the top and the bottom had the least opportunities, so it appears that hiring may be finally coming back full circle. Our colleagues in Executive Search tell us that C-Suite hiring remains solid in many real estate sectors, while job postings which require 5 years or less of experience increased 7% in 2011-2012 compared to 2007-2008, according to the Job Barometer Report. Candidates with less experience usually demand lower compensation; however, the trend to hire candidates with less experience may be attributed to the increase in market transparency, which has caused firms to develop sophisticated financial models using Microsoft Excel and Argus (which require candidates with more immediate retooling with software applications.) Want more optimism - view the full report.
Full Circle
Susan Phillips, CEO, SelectLeaders November 28, 2012
Jobs on the SelectLeaders Job Network posted by Equity Residential and Avalon Bay hopefully may soon reflect their acquisition of Archstone, Inc., which the Wall Street Journal described as “the apartment-building owner that played a major role in the demise of Lehman Brothers Holdings Inc.” I personally never can forget (and if you read the Job Blast you can’t either) that when Lehman Brothers fell, jobs on the Network went from around a thousand to 35. Is this the white smoke signaling a change? About 60% of the company, or some 23,000 apartments, will go to Equity Residential, the country's largest publicly traded apartment company, which is controlled by the amazing billionaire Sam Zell , who has long been angling for Archstone's properties. Avalon Bay, the other largest public multi-family landlord in the U.S., is set to get the remaining 22,000 units. According to our Network partner, National Association of Real Estate Investment Trusts (NAREIT), year-to-date returns for apartment stocks have been about 1.2%, compared with 11.8% for the S&P 500. Apartments have lost some of their luster with investors lately. While the sector was one of the best performers in the real-estate industry early in the recovery, its growth has slowed recently as the single-family home market has improved. These are two great companies and apartments are not going away especially with the love for downtown living of the next generations.


80 CEOs Agree
Susan Phillips, CEO, SelectLeaders November 14, 2012
Less than 2 weeks before the election, the Wall Street Journal reported that 80 Chief Executives from some of the biggest name corporations, from Aetna to Weyerhaeuser, banded together to call for a reduction of the Federal Deficit with tax-revenue increases as well as spending cuts. Regardless of who would be in the White House, they urged limiting the growth of healthcare spending, making Social Security solvent, and comprehensive and pro-growth tax reform. Yes, the 80 CEOs who signed deemed tax increases inevitable, but the like-minded CEOs would resist raising taxes unless accompanied by significant spending restraint. They would not, they emphasized, support increasing tax revenue, just to increase entitlements without significant spending restraint. Politicians looking for a mandate need to look no further. Imagine 80 leaders agreeing. Let’s hope both sides of the aisle take heed of what our business leaders see from the front lines for the future of the American economy.
The 3 Little Pigs
Susan Phillips, CEO, SelectLeaders November 7, 2012
As Hurricane Sandy, with winds that were purported to have reached 95 MPH in NYC, swayed my glass tower, which was built to withstand 110 MPH winds, I thankfully thought of my building's developer. Watching my blinds swing left, then right, then left, I thought fondly of our industry's developers, who some describe as "difficult," with a my-way-or-the-highway perfectionism. Manhattan and I are still here to tell you, it is preferable to have our buildings flexible rather than our developers. I previously had the privilege to go on an Urban Land Institute tour of the construction of the new World Trade Center towers. I haven't seen construction and walls like that since they built Armories in the early 1900's. I hope that these captains of our industry will be called upon to rethink our infrastructure. NYC is one of the last metropolitan centers in the world that does not have direct public transportation to the airports. Since we need to create good jobs, let's get architecture, construction, and development jobs bustling, and this time not on projects already in the pipeline, but ones that will revision our world for the future. Before the next one tries to huff and puff and blow...


Truth or Consequences
Susan Phillips, CEO, SelectLeaders October 31, 2012
An editor of our regional paper quit to move up to a big city paper when the truth came out that she had misrepresented her college credentials on her resume. Like so many women of that era who rose up from the secretarial pool, her graduation was really from the School of Hard Knocks. By the time her job offer was withdrawn, her former position had been filled. Employers will overlook many things when they like a candidate, so never be afraid to tell the absolute truth. Interestingly, no one seems to apply as strict criteria to Social Media Profiles. Profiles are often created with a click and without the ability to sufficiently elaborate. Is your technology experience a decade old; did you just attend the University? Employers often search Social Media Profiles, so be as accurate as possible, but your resume is what they rely on for the whole truth, and nothing but the truth, on what they can count on you to do ... such as always being truthful.
Back to the ‘90’s
Susan Phillips, CEO, SelectLeaders October 24, 2012
Anthony LoPinto, our Founder, often laments that missing from some of his top Executive Search prospects is an entire generation of executives that did not enter the Real Estate industry during the Recession of the ‘90’s. There has been some anecdotal evidence that this may be happening in 2012, which I want to share with you with the disclaimer that it is unconfirmed. I ran into a friend of my son’s who had studied Architecture, and is entering Graduate School to prepare for a different career, because he believes by the time the job he would want is available, his skills will be rusty if not obsolete, because he is not working in Architecture. A top real estate employer that is in the middle of their campus recruiting practice (for fall 2013 hires) notices a substantial drop-off in the number of resumes they are getting from their traditional feeder schools. One school’s Dean reported that given the disaster they have seen in the real estate world in the past few years, students have just lost interest in studying real estate, and he has to sell the field of study to some of the younger students. According to this professor, he actually had more internship opportunities than real estate students this past summer. Hopefully, Real Estate is climbing back up just in the nick of time.


Winner of the Debate
Susan Phillips, CEO, SelectLeaders October 17, 2012
It is obvious who the clear winner was in last night's Presidential debate ... JOBS! Other topics didn't even come close to job creation. I did think however that the debates might have been more productive if the Dallas Cowboys Cheerleaders moderated. Remember the old cheer: What are we going to do? WIN (Create Jobs). How are we going to do it? Get a touchdown or goal was the answer then, and what is the answer now? Thankfully, the Real Estate industry seems to have one. For the first time in years, SelectLeaders Hottest Sector (most jobs posted) this week was not Multi-family or Office that have dominated for months, but Retail. The flurry of hiring we have witnessed before the election has trickled down to almost all sectors, which may be indicative that a big factor in job creation is restoring hope. Nearing the end of the unprecedented negativity from both sides during this political season may actually be the first step in job creation. And we all hope there will be more like the ones below:
Apply Now!
Susan Phillips, CEO, SelectLeaders October 10, 2012
Our Founder, Tony LoPinto wrote in his GlobeSt.com “Executive Watch” last week that SelectLeaders Job Network had its best month in 5 years. So, now is the time to take our Free Resume Evaluation on the SelectLeaders Job Network Home page, spit and polish your resume, or pay their Certified Resume Writers to prepare a new one. (They guarantee that you will get an interview in 30 days or they will rewrite it for free). So, does our September results back up the September Jobs Report of a 7.8% jobless rate? It was eye opening to discover how the Jobs Report is calculated. (I assumed it was statistics from the Unemployment Bureau and Federal Agencies).) The numbers come from a tiny survey of about 60,000 eligible households with a margin of error of 400,000. My advice, if you are looking for a job, look now during Budget Season. This time of year is when budgets are used up and larger job posting packages are purchased gearing up for the year ahead. Just because I am cautious in my predictions, don’t you be cautious in your job search. If you are looking for a job, get your resume updated and apply now (especially to the ones below)!


Take It or Leave It
Susan Phillips, CEO, SelectLeaders October 3, 2012
Employers, who are listening to the politicians and believe they have all the time in the world to decide who they want to hire, are taken by surprise when their first picks have already been taken by a company that pushed to close the deal. Living in fear of being let go during the worse of the economic meltdown has had its effect on everyone. When candidates quickly get an offer from an employer who asks for an equally rapid response, both end up feeling that they are getting people who don’t need to think twice about making a commitment. And commitment appears to be what both sides are looking for after the past few years. Employers remember the people they hired that did the jobs 3 people did before the meltdown, and job seekers want a company that will put them on the most valued employee list if they hit a bump in the road. So take the time up front to vet out what everyone involved wants in a hire. Because once you start interviewing, he who hesitates is lost.
Pay ‘em or lose ‘em
Susan Phillips, CEO, SelectLeaders September 26, 2012
The defense for ever rising compensation of Chief Executives is now being debunked. The New York Times article “Pamper ‘Em or Lose ‘Em. Not so fast” reports on a new study from Weinberg Center for Corporate Governance at the University of Delaware - it concludes that contrary to the prevailing line, chief executives can’t readily transfer their skills from one company to another, so the “Peer Group Benchmark” – how executive pay at one company stacks up against pay at another - only serves to push pay up and up. Mr. Elson and Mr. Ferrere who conducted the study, note numerous academic studies indicating that CEO’s selected from within a company perform better than outsiders, especially in the creation of long-term shareholder values. A 2011 analysis of roughly 1,800 C.E.O. successions from 1993 to 2005 found less than 2 percent had been public-company Chief Executives before their new jobs. This study recommends that Boards should “junk Peer Group Benchmarks” and suggests that Boards develop internally consistent standards for the individual company. If I am reading this right, compensation standards for an entire company would be linked to performance, both individual and company, and it also appears that promising up and comers actually are starting to fill the C-Suites, and that is not only good news for job seekers, but for all of us.


Reinvent Yourself
Susan Phillips, CEO, SelectLeaders September 19, 2012
50 years of success! CNBC Squawk Box dedicated an entire business segment to Jon Friedman’s new book “Forget About Today” - a tribute to how Bob Dylan’s genius for reinvention and instinctive business acumen has kept him at the top of his industry for over 50 years. His reinventions read like a Business School Case Study as he embraced the latest technology going “electric”, or the Poet's rare commercial for Victoria's Secret? (targeting the young female audience that fill concert halls), and embarking on his Never Ending Tour risking overexposure to regain his relevance. So how do we reinvent ourselves … don’t get stale embrace the new, use your core strengths differently - challenge yourself to change, and never let success or failure overwhelm you. If you just sent out 100 resumes, send 101 – this is the mystery behind Dylan’s 50 years of success - “The only thing I knew how to do was to keep on keepin’ on”. (Bob Dylan was born in Duluth, MN and decided to pursue a music career watching Buddy Holly in concert, days before he died, at the Historic Duluth, MN Armory.)
Moving Day
Susan Phillips, CEO, SelectLeaders September 12, 2012
In 2009, when our Founder Tony LoPinto joined Korn/Ferry International, SelectLeaders moved into new office space in midtown. How thrilled they were to have us - a solid company that they could count on to pay their monthly rent in the days of so much vacancy. Our wish, was their command. Then a few months ago, the Office Sector, for the first time in years, posted the most jobs on SelectLeaders of any sector. Office has remained one of the two “Hottest Sectors”, running neck and neck with Multi-family job postings. But the change in the market didn’t really hit home until a month ago when we heard that our office lease would not be renewed because a large “lessee” was going to assume several floors in our building, including ours! As we stand poised to move on downtown, at least a few blocks, have no fear, our phones and emails remain the same so you won’t even notice our move. As for our jobs seekers and employers, your wish is still our command - except for that “lessee” with the big bucks.


Your Personalized Job Posting
Susan Phillips, CEO, SelectLeaders August 29, 2012
The hottest trend in technology is personalization, with apps like Zite, your personalized magazine delivering customized content, or Pandora Radio that selects tunes similar to your most recent selections. If you could customize the job posting for your ideal job, how would it read? Would it include travel? Would you be willing to relocate in a few years? How much responsibility do you really want? At this stage in your life are you willing to put in the extra hours and weekends? What is your next position if you take this job, both inside the company, or outside? How much could you make in 3 years with this experience? What is the lowest compensation you would consider? Labor Day is the perfect time to forget about your resume and how to sell yourself to an employer, and visualize your ideal career from this day forward. From September 15th to November 15th, we usually see an uptick in opportunities, and hopefully the posting you envision will appear, or you will clearly see what experience or new skills you need to acquire to get where you want to go
Integration
Susan Phillips, CEO, SelectLeaders August 22, 2012
As a good shepherd of our industry's jobs, twice a month we research any commercial real estate job opportunities that would be appropriate for SelectLeaders, but are not posted on our site. Last week something seemed to be very wrong. The SelectLeaders Network's Hottest Sector, with the most jobs posted for the week, was Multi-family, but some of the largest Multi-family firms were nowhere on any other list. Our Sales Director solved the mystery. He had just been on the phone with one of the top Multi-family companies, "We consider ourselves "residential" real estate, not commercial," he was told. Considering the REITs now bundle single family mortgages, it seems clear the line has forever blurred and residential and commercial real estate are integrating. The moral of the story is, if you are looking for a Multi-family job, don't forget to search the residential sector also.


Job App
Susan Phillips, CEO, SelectLeaders August 15, 2012
Last week's acquisition of Zagat by Google inspired our Founder, Tony LoPinto's clever "Executive Watch" column on GlobeSt.com. He envisioned Apartment Apps and Office Apps that sparked several animated, blue sky discussions around SelectLeaders. A real estate Job App with all real estate jobs, including SelectLeaders highest quality professional jobs, would ideally have comparative local salaries, and employee reviews, as only Zagat seems to be able to illicit such spot-on critiques. But, you need a job now? Then the next best thing is our tried and true solution, Job Alerts. Take a few minutes to reflect on what the perfect job for you would be, and then search for it on SelectLeaders. If you have an ideal location put that in too, or if you have an ideal company add that. Then save your search criteria and set up a Job Alert. The minute a job that matches your criteria is posted on our site, we send you an email so you can be one of the first to apply. You do need to register on SelectLeaders to create a Job Alert, but the added benefit is that you can track your applications, and better yet, you can upload your resume and check the box to make it searchable, and let employers find you! A good job trumps a good App every time.
July Jobs Report
Susan Phillips, CEO, SelectLeaders August 8, 2012
This past Saturday’s Wall Street Journal front page article focusing on the July, 2012 Jobs Report seemed counter-intuitive from what the Real Estate industry expects to see in July, and August. But this year, hiring did not go on summer vacation. Starting in July and continuing into August, the number of opportunities on the SelectLeaders Job Network, inched one more step up in the slow, but steady climb towards pre-2008 levels. Our findings, mirrored the July Jobs Report of the 163,000 job gain, the largest since February, but also triggered a lot of concerns about the fragile human capital market. The WSJ article pointed out that in July more workers became discouraged and left the labor market than entered it. But one thing is clear from where I sit, Real Estate jobs on our site are trending ever so slowly upward. And when this happens in what has been traditionally the worse two months of the year, my mood (and hopefully yours too) is following the stock market’s immediate surge upward towards optimism.


Go for the Gold!
Susan Phillips, CEO, SelectLeaders August 1, 2012
Watching the world’s greatest athletes never settle for being “good enough” or never stop aiming for perfection in the London Olympics, I thought about what it takes to get the gold? What sets the people apart in our industry that strive to be the leader, that go for the gold? Our industry is poised to discover the answers. So far, an impressive 1,200 real estate professionals from all sectors of our industry have taken the SelectLeaders Job Network Leadership Assessment since its launch on all 14 Career Centers in our Network just over a month ago. Every one of the 1,200 real estate professionals who took the online assessment received a full report of their top leadership characteristics with suggestions on how best to develop them to strengthen their performance. They also learn what traits they need to use more effectively to overcome barriers to success. As a critical mass of leadership characteristics (with no contact information) soon becomes available, we will be able to discover the unique leadership characteristics that set our industry apart, both our industry’s leadership strengths and our weaknesses. Take the Leadership Assessment on any of the SelectLeaders Job Network Career Centers, and, like the Olympians, achieve your personal best, or go for the gold.