Sperry Van Ness International Corporation (SVNIC), a full-service commercial real estate franchisor of the SVN brand, released a new report on how employers, in the commercial real estate (CRE) industry and beyond, can attract and retain Millennial talent. The Millennial Commercial Real Estate Career Study (The SVN Study) was conducted in November of 2015 by SVNIC COO Diane Danielson as part of the company’s on-going efforts to assist their independently owned and operated offices to recruit top talent and diversifying their companies. While the study’s intent was to provide a look at how to retain Millennial talent within commercial real estate, we believe the takeaways are universal and will be beneficial to those looking to hire Millennials – specifically for commission-based jobs – within marketing research.
For the SVN Study, members of Generation Y, (born between 1980 and 1995), were surveyed in the U.S., Canada and South America about careers, specifically asking about commission-based jobs and what factors they look for when choosing future employers.
The study provided 10 recommendations:
- Expand your commission-based recruiting pool.
- Create a collaborative work environment through common goals, brainstorming and problem solving sessions.
- Boost your entrepreneurial spirit by rewarding innovation, supporting risk taking and encouraging employees to think like owners.
- Diversify your recruiting pools, existing employee base, leadership and board of directors.
- Ensure that upper management is genuinely ethical, transparent and open to mentorship programs.
- Demystify management and create a clear path for advancement.
- Highlight the high earnings potential and the training programs available to help Millennials succeed.
- Provide flexibility in work hours and locations by moving to a results-oriented, “core hours” system and cloud technology.
- Incorporate conscious capitalism into your company mission and vision.
- Engage in ongoing dialogs with Millennials.
To view and download the full Millennial Commercial Real Estate Career Study report, click here.