Download Report | HRnetOne Issued 2023 Mainland China Commercial Real Estate Senior Talent Trends Report

In 2022, the commercial real estate industry faced unprecedented weakness. To survive the economic downturn, companies implemented cost-cutting measures such as layoffs and salary reductions. Now, the industry urgently needs precise and effective measures to adapt to the downward pressure. Selection and deployment of talent have become crucial in this industry’s adaptation to market adjustments.

In this report, we analysed the latest talent trends of leading commercial real estate companies in the
industry, combined with our own professional experience, and summarised the talent trends in the commercial real estate industry, hoping to provide decision-making support for the deployment and cultivation of talent of real estate companies.

Focus in the Report

OVERVIEW

01 NEW OPPORTUNITIES FOR COMMERCIAL REAL ESTATE INDUSTRY DEVELOPMENT

1. Digital Infrastructure Real Estate, Elderly Care Real Estate Is Promising

2. Industrial Real Estate Projects

3. Hotel Real Estate Accelerates the High-end Market Layout

4. Urban Renewal Projects

5. TOD Projects

02 ORGANISATION TOP-LEVEL DESIGN AND TALENT TRENDS IN COMMERCIAL REAL ESTATE

1. Top-level Design of Corporate Organisation

2. Talent Profiles

3. Trends of Talent Flow

4. Market Demand for Talents

03 TALENT ATTRACTION AND RETENTION

1. Talent Attraction and Retention

2. Compensation Guide

01 NEW OPPORTUNITIES FOR COMMERCIAL REAL ESTATE INDUSTRY DEVELOPMENT

1. Digital Infrastructure Real Estate, Elderly Care Real Estate Is Promising

With the increasing demand for the informatisation, intellectualisation, and automation in the real estate industry, the construction of digital and intelligent infrastructure has become a segment that receives considerable attention in the industry.

Mainland China is gradually transitioning into an aging society, and the elderly care real estate has started to develop on a commercial scale. It is not only a simple residential construction, but also strengthened medical, social, rehabilitation, and other service functions.

2. Industrial Real Estate Projects

The parks that gather specific industries, for example, the Greater Bay Area, where the biomedical industry is concentrated, and the eastern China, where the domestic semiconductor industry is gathered will drive the demand for industry-related commercial, production, and office building projects in the future.

3. Hotel Real Estate Accelerates the High-end Market Layout

The optimization of epidemic prevention and control policies has driven the recovery of the hotel market, with the high-end hotel segment being particularly prominent. International high-end hotels accelerating their layout in the high-end hotel market in mainland China.

4. Urban Renewal Projects

The source of future growth will shift from the previous incremental market to the stock market. Some real estate companies are adopting a light asset management output mode and initiating urban renewal projects.

5. TOD Projects

The development of TOD projects (Transit-Oriented Development) in the Greater Bay Area has become a major investment focus for the commercial real estate industry.

02 ORGANISATION TOP-LEVEL DESIGN AND TALENT TRENDS IN COMMERCIAL REAL ESTATE

1.Top-level Design of Corporate Organisation

2. Talent Profiles

In the Talent Trends Report, HRnetOne compares and analyzes the management personnel of foreign and domestic real estate companies from three aspects: background experience, working style and professional values, helping managers and HR to form a more intuitive cognition and judgment of high-level talents in the industry, so as to accurately select talents with high matching degree.

3. Trends of Talent Flow

In recent years, the real estate industry has been hoping to respond to the needs of the times and
make transformations. As a relatively traditional industry, the real estate industry does not have an
advantage in terms of innovation and can only attract high-quality talent from other industries.

From the perspective of market supply and demand, the increasing work pressure on commercial real estate business practitioners has become a trigger for the outflow of real estate talent from the market.

4. Market Demand for Talents

From the perspective of enterprises, it can reduce the cost of recruitment and improve the efficiency of business operation by making clear what kind of talents the market lacks. On the other hand, personnel training and reserve can be targeted.

For candidates, understanding the talents and abilities that are lacking in the market can help them better realize which aspects of their skills to improve and maintain their competitiveness in the market.

03 TALENT ATTRACTION AND RETENTION

As the market enters a period of deep adjustment, real estate companies spare no expense in seeking
high-quality talent externally, hoping to bring new talents to lead the breakthrough of commercial real estate. However, this move also brings some unavoidable problems, such as “not fitting into the
environment” after entering a new environment, making these introduced talents unable to stand firm in the real estate industry and wanting to return to their familiar comfort zone.

To solve the talent recruitment dilemma of enterprises, HRnetOne combines recruitment experience
with market observations to propose the following talent retention suggestions for reference by
companies. At the same time, the salary information of senior talents related to the popular commercial real estate industry in recent years is summarized, including the talent information of luxury retail and Internet industries, for the reference of managers and HR.