State of the Industry Report 2007-2008

Chapter Ten other fIrst-hand obserVatIons on talent for Cre: • Position open in China for a year, actively recruiting, seconding brokers to help; cannot find talent to run portfolio – GE • HOK finding Europeans and Australians more willing to move around than U.S. and Asians • India, “burning through” expat (costs 3X), send for 5 years, lucky to keep for 1 even with expat packages (Sun); director level person to India costs $350 – 400K. • Domestic taking longer to find; pay scale isn’t the issue; general perception that regardless of where you are, Bay area not attractive (Sun); virtual worker solution good after person in close proximity with organization and then work virtual, but to hire virtual worker without relationships in place, doesn’t work • Secondi (embedded outsourced executive) route in China for everything but the business relationship; taking service provider talent and allocated to local facility (Rockwell); more difficulty in Europe; one year to fill UK position, made four offers and three took other offers at last minute • Clients taking secondi route forcing service provider to fill need, but solution lower economic value to service provider • Labor arbitrage in India and China no longer works as labor market so hot. Number one concern of regional CEO, build facility that will help keep talent. Not going to stop anytime soon. • Creates recruiting, retention, training challenges. • Getting leaner and freeing up talent (Capital One) hiring in unit for positions that don’t require CRE talent; broader skill sets; picking up people being freed up from other parts of the business We identify quality at the middle level, and place them on a leadership track. We need an “A” and a “B” team, but we also need a “C” team. Many of our client services people are on multiple corporate accounts because we can’t staff teams for every unique piece of business, so some are on 3 – 4 teams. Some service providers have talent development programs. Project management is an area of big need, the most difficult skill set to find right now. We’re hiring project managers right out of school. We need to position real estate differently in the organization and call it “integrated resources” or “resource optimization.” We have to elevate the presence of CRE in the company. Nowhere else in the company will you have the exposure – real estate cuts across all parts and levels of the corporate enterprise. Is one ‘big bet’ around taking real estate people and teach them the softer skills or the other way around? We need more soft skill training in the CRE industry but right now CoreNet Global is not doing enough of this. Service providers need a larger majority of content and technical people so that real estate people can hire people with softer skills to progress through the organization. Service providers need content providers more than the internet people. Sometimes people don’t know where the end user and service provider end and begin. In the sense that the lines are blurring between the supply and demand sides of the industry due largely to outsourcing, CoreNet Global needs a framework that educates differently than they do today and that takes service providers more into account. chapter ten potentIal solutIons to Cre talent Issues We need business people on our team….not real estate people on our team. We should create a revolving door for the organization where we train people and then move them on. The outsourced providers are feeling the need to provide higher touch, soft skills, build the trusted advisor relationship. This is an extended enterprise model. If your service provider fails, the end users won’t succeed. The line for new skills and higher competencies is being drawn higher and higher. Broad skills are important, yes, but specialty skills like project management are critical. State of the Industry 2007-2008 48 http://www2.corenetglobal.org/home/index.vsp

Table of Contents Feed for the Digital Edition of State of the Industry Report 2007-2008

State of the Industry Report 2007-2008 Contents Chapter 1: Introduction : CoRE 2010 Framework and Report Structure Chapter 2: The Changing Business Environment Chapter 3: Executive Summary of Key Findings and Conclusions Chapter 4: CoRE 2010 Adoption Rate Chapter 5: Sustainability/Corporate Social Responsibility Chapter 6: Global Sustainability Survey and Roundtable Findings Chapter 7: Workplace Practices/Work Environments Chapter 8: Workplace Related Issue: The War for Talent Chapter 9: Asset Management/Portfolio Optimization Chapter 10: Solutions Delivery Chapter 11: Location Strategies/The Strategic Role of Place Chapter 12: Location Related Issue: Site Selection Morphs to Portfolio Alignment Chapter 13: Strategic Competencies/Enterprise Leadership Skills Chapter 14: Competencies Related Issue: The War for Talent in Corporate Real Estate (CRE) Chapter 15: Integrated Resources Infrastructure Solutions – IRIS Chapter 16: Technology and the Web Chapter 17: Technology Related Issue: Removing the Obstacles to Industry Data Standards Acknowledgements and Sources

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