Real Estate Technology & the Talent Shortage
The talent shortage facing the facility management industry is significant. Industry leaders increasingly recognize the impact it may have on how buildings are operated. This was a popular topic at the annual Realcomm | IBcon event in June.
The industry trends are clear. IFMA reports that their average member age is 50.9 years old. RICS also has written extensively about this topic (with IFMA, in fact) and noted that it has more members that are over the age of 70 than under the age of 30 (see page 10, here). RICS also notes that only 15 percent of its members are under the age of 40. The key headline from all these organizations: the industry needs an influx of new talent. As a local example, in 2016 San Bernardino County had 3,200 open positions and only 32 qualified applicants in the field.
Due to expected growth in the industry, the problem may get worse before it gets better. While it’s hard to find job growth projections specifically for Facilities Management, many of the core roles within the industry are tracked by the Bureau of Labor Statistics (BLS). For example, HVACR installers and mechanics are expected to see a 15 percent rise in employment from 2016 to 2026. This is over twice the expected growth for all employment, and installers/mechanics generally. Similarly, property, real estate and community managers, a category that includes a wide range of building types, is expected to grow 10 percent over the same time period. The category for janitors and cleaners is also expected to grow by 10 percent. All of these, and other building and facility roles, are outpacing the broader economy.
While the fast growth in the industry may attract new talent, a number of leading firms and other groups are making their own investments to mitigate the talent shortage. Johnson Controls, for example, has written a white paper on the topic, focuses on hiring military retirees and is investing in technical colleges. Additionally, ABM is funding an effort by the IFMA Foundation to mitigate the growing talent gap. The IFMA foundation is also partnering with California Community Colleges to offer facilities management as a career pathway.
At IBcon 2019, our panel, Building a SMART BUILDING TEAM – Navigating in a Skills Shortage Environment, discussed the state of affairs and also profiled a few innovative firms that are thriving in this talent-short environment. A few of the most notable points included:
- Younger staff want to work in more advanced buildings. Older staff may be more resistant, especially when technology is first deployed. There may be an opportunity to attract new talent with investments in smart buildings (which will also pay off in other ways).
- Panelists noted that they had to get creative to hire staff. In many cases, they tried to describe a type of role that might fit well in building/facility management but wasn’t close enough to it to ensure that staff will naturally apply for jobs. Reinforcing the point above, one panelist mentioned former members of the military making great hires in facility management.
- A key focus is on training. On one hand, staff may realize that training makes them more valuable, which opens up other job opportunities and exacerbates the shortage. But panelists agreed that it is more important to ensure that staff is aware of new tools and technologies to do their jobs.
This all aligns with a recent article in Canada’s Financial Post stating that technology will disrupt the current roles of some workers, but will have the capability to mitigate the impacts of a talent shortage. This is an important industry issue to watch, though there is some good news: the discussion has moved from “Will the tech steal my job?” to “Can technology help make me more efficient and focus on high-value tasks?” This is a step in the right direction.
This Week’s Sponsor
Embracing open software and hardware platforms, Lynxspring develops, manufactures and distributes edge-to-enterprise solutions and IoT technology to create intelligent buildings, better energy management systems, equipment control and specialty machine-to-machine and IoT applications. Lynxspring technologies and solutions simplify connectivity, integration, interoperability, data access and normalization and analytics from the edge to the enterprise. The company’s solutions are deployed in millions of square feet of commercial settings in the United States and internationally. More information about Lynxspring is available at www.lynxspring.com,
Join a unique gathering of Corporate Real Estate and Facilities professionals at CoRE Tech 2019, held Nov. 13-15 at the San Jose Convention Center. For the 10th year, CoRE Tech focuses on groundbreaking automation and technology strategies to help organizations achieve Real Estate business goals. This year's theme, REcalibrate | Using Innovation to Turn Challenges into Opportunities, focuses on why entire organizations need to fully understand the next chapter of the digital revolution—a chapter impacting individual roles and entire companies.
As you REcalibrate, CoRE Tech attendees gain access to:
- Global Industry Experts
- Leading-Edge Learning Programs
- Executive Briefings and Tours in Silicon Valley
- Innovation Showcase of Ground-Breaking Tech Solutions
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UPCOMING REALCOMM WEBINARS
CORPORATE REAL ESTATE & Technology – The Importance of Developing a STRATEGY - 10/24/2019
The Corporate Real Estate industry has quickly gone from constantly resizing the corporate real estate portfolio based on the everchanging business needs of the corporation, to having to understand and deal with a myriad of issues relating to technology, automation and innovation. Not only do CRE professionals need to understand things such as IWMS, intelligent buildings, the smart workplace, AI, VR/AR and other emerging technologies, they also need to understand the fundamental shift on how we use space. Technology which is enabling mobility has shifted the landscape. This webinar will feature some of the most innovative professionals discussing the importance of developing a comprehensive Corporate Real Estate portfolio strategy around the concept of Digital Transformation.
Founder of Realcomm Conference Group, an education organization that produces Realcomm, IBcon and CoRE Tech, the world's leading conferences on technology, automated business solutions, intelligent buildings and energy efficiency for the commercial and corporate real estate industry. As CEO, Jim interacts with some of the largest companies globally pertaining to some of the most advanced and progressive next generation real estate projects under development.
Chuck Niswonger has over 30 years of successful leadership experience in technology-related roles that range from operating his own consulting company (www.nicenets.com) to directing the IT strategy of a real estate investment management firm to manufacturing and technology-enabled education. Chuck has also been the chair of the Realcomm Investment Management (IM) Advisory Council for the last ten years, managing content selection for the conference educational sessions, IM forums, workshops and webinars.
Emmanuel Daniel is responsible for building and delivering the Digital Transformation strategy for campuses across Microsoft and leads a global multidisciplinary team of architects and experience designers. He builds experiences that merge technology with the built environment, leading to the formation of spaces that respond to the needs of its users. He is also accountable for identifying, building and implementing the next generation of products that will make smarter and sustainable buildings.
Paul Maximuk is the Product Owner as well as a technical SME at Ford Land, leading all BMS and controls integrations globally. He has over 30 years of experience in the industry managing multiple types of energy systems and specializing in strategic smart building implementation and management. Paul’s expertise in the built environment spans real estate assets from large industrial facilities to Class A office buildings.
Ronna Davis has been in the networking and telecommunication industry for 23 years. She has been with CommScope for over 13 years and has held positions in sales, channel and product line management. She is currently on CommScope’s Strategy and Technology Team for Buildings and Campuses. Previous to CommScope she worked in the design and construction of telecommunications networks for eight years and in wholesale distribution for two years. She studied marketing and is a LEED Green Associate.
Ron Victor is a Silicon Valley based technology entrepreneur with 20 years of experience and expertise launching new ventures at start-ups and fortune 1000 technology companies. To-date he has enabled raising more than $30Million in start-up capital for multiple start-ups in silicon-valley. Ron has founded and led three companies to-date with successful exits. His latest venture is IoTium Inc. – a Silicon Valley start-up that provides a secure, cloud-managed, easy-to-deploy software defined network infrastructure for all IoT verticals.
Marc is a pioneer in leading the Intelligent/Smart Buildings and M2M movements pushing the industry forward and has contributed to transforming and changing the Intelligent Buildings and M2M (now IoT) industries. As Chief Marketing and Communications Officer for Lynxspring Marc leads corporate and product marketing, strategy, brand management, public relations and communications that support the company’s strategic and growth initiatives.
Brent Boekestein is the CEO of Vintra, Inc., a leading video analytics company from Silicon Valley that uses artificial intelligence to transform any video surveillance into actionable and tailored intelligence. Forward-thinking enterprises and public safety organizations like Sacramento City, NYC DOI, Sacramento County, and more use Vintra’s solutions to organize, analyze, and derive critical insights from overwhelming amounts of stored and live video.