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OCTOBER 3, 2022

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CRE employers must compete to attract talent, as job seekers have the upper hand

by Carolyn Marshall

Home prices may be slipping, but it’s a seller’s market for job seekers. Commercial real estate firms say they are in full-tilt hiring mode, struggling to replenish employee ranks decimated by the pandemic. Positions remain vacant at every level, from mission-critical C-suite executives and senior portfolio managers to property operators and construction workers. Catchphrases like “The Great Resignation” and “The Great Reshuffle” describe and neatly package ways to think about the unprecedented workplace conditions — little comfort to employers facing a massive labor shortage and hiring landscape so competitive, many say there is an all-out “War for Talent.”

In bygone days — say, three years ago — employers called the shots. The pandemic tipped the balance, redefining the workplace and elevating talent expectations. The unforeseen switch gave job candidates and existing employees the clout to make demands. In a tight labor market, where the Bureau of Lab

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