Ask A Property Manager
What are your thoughts on the increasing trends of millennials, and all CRE professionals moving from job to job so frequently? Do you think that older and more experienced professionals who have been working for the same company for many years are lost in today’s culture? Is it now better to be young and fresh-faced versus the well-versed adviser?
The CRE industry is especially prone to a high amount of job movement. And, I say “job movement” versus turnover. This has much to do with the fact that properties change hands quite frequently in certain markets. As buildings and portfolios sell many times, the purchasing company has the option to choose to keep or change the existing manager. Therefore, a company change goes with the territory. If the manager doesn’t stay with the portfolio, then a job change is also inevitable. This can also be the result of a corporate sale or acquisition. Private and public companies are rapidly merging or being acquired, often resulting in a culture change, which may or may not work for everyone. Therefore, I don’t think it’s necessarily a millennial factor that encourages these changes, but the CRE culture in general.
That being said, it’s important to be agile and adaptable whether it means changing organizations or staying where you are to acclimate to a company’s changing culture. Both types of managers are vital parts of our profession in today’s culture and help keep us moving forward. The “young and fresh-faced” can bring new energy and ideas, but we’ll always need those “well-versed advisers” as leaders and mentors.
Kami Nutt, BioMed Realty
<<< Back to January Newsletter
The CRE industry is especially prone to a high amount of job movement. And, I say “job movement” versus turnover. This has much to do with the fact that properties change hands quite frequently in certain markets. As buildings and portfolios sell many times, the purchasing company has the option to choose to keep or change the existing manager. Therefore, a company change goes with the territory. If the manager doesn’t stay with the portfolio, then a job change is also inevitable. This can also be the result of a corporate sale or acquisition. Private and public companies are rapidly merging or being acquired, often resulting in a culture change, which may or may not work for everyone. Therefore, I don’t think it’s necessarily a millennial factor that encourages these changes, but the CRE culture in general.
That being said, it’s important to be agile and adaptable whether it means changing organizations or staying where you are to acclimate to a company’s changing culture. Both types of managers are vital parts of our profession in today’s culture and help keep us moving forward. The “young and fresh-faced” can bring new energy and ideas, but we’ll always need those “well-versed advisers” as leaders and mentors.
Kami Nutt, BioMed Realty
<<< Back to January Newsletter