Holiday season: the time to recoup our achievements and plan for the new year.
Macdonald & Company
The leading global real estate & related assets recruitment consultancy. #beconnected
With another year to conclude, all of us at Macdonald & Company wish you a Merry Christmas and a happy, successful New Year.
Some of our standout achievements over 2023 have seen our continued expansion in the U.S., (interested in relocating as the team grows?), the launch of our new website and re-brand, and numerous promotions awarded to our fantastic team.
But enough about us, we want to celebrate the brilliant people we work with everyday;
The people who continue to ambitiously build and propel our industry at a time where we are cautiously navigating an uncertain climate, whilst looking to the future that will shape real estate in the years to come.
As a round up, we have put together some insights to help kick start your new year career and team-building opportunities, including:
- Surprising Cost of Living and Inflationary-led stats that have emerged so far in our Salary, Rewards & Attitudes Survey
- A guide to approaching the conversation of a pay review in 2024
- Some of our recent guests in our 'Accelerating Careers in Real Estate Podcast'
- Round up of top insights
We're excited to share early insights from our Salary, Rewards & Attitudes survey – and some surprise findings have emerged.
Among them: 'Cost of Living/Inflation' has surged to the no. 2 reason employees cite their salary has adjusted, currently at 16.5% (and climbing) of the respondents who have seen their salary increased.
This underscores the undeniable impact of the wider economic landscape and how organisations are navigating these challenges to retain and attract top performers.
Here's where you come in.
Your participation in this survey will guide concrete actions to address compensation challenges in your profession. Your input will be used to develop practical resources and recommendations for navigating the shifting landscape of pay and rewards.
If you haven't already yet participated, spare several minutes this holiday season to take part in the survey and benchmark your salary in the New Year:
Other running stats to highlight include:
📊 16% believe remote / hybrid working has had a negative impact on their career
📊 52% would consider moving abroad for a new role - mainly for an improved standard of living
📊 1 in 2 are likely to move jobs in the next 12 months
As we're on the topic of salary, we recently held a quick poll about work performance this year, asking:
'Reviewing your work performance over 2023, have you:'
▶️ Taken on new responsibilities - 24%
▶️ Exceeded expectations - 20%
▶️ Made great impact to the team - 8%
🏆 All of the above - 48%
We are going above and beyond in our role and if you know you have excelled in the last 12 months you have a strong case in reviewing your remuneration.
Here are some tips to get you started:
- Choosing the right time to approach the subject: Consider your achievements along side the performance of the company as a whole.
- Consider your approach: Though the company may have faced some challenges, if your personal performance has made a positive impact, you can still approach the conversation.
- Be prepared to consider alternatives: We get it. Budgets are being squeezed and there still lies uncertainty ahead. If Plan A for a salary raise isn't possible, consider other upgrades to your current package e.g. Bonus or commission review, extra paid time off days, and so on.
💡 When you're ready to have the conversation with your manager in 2024, here is a step-by-step guide to help you succeed:
Recommended by LinkedIn
If you haven't listened to our Accelerating Careers in Real Estate Podcast series, we are a whopping 92 episodes in.
That's 92 CEO's, Founders and Senior Heads each sharing their unique career trajectories and advice across Real Estate Development, Investment and more.
(or search 'Accelerating Careers in Real Estate' in Spotify or Apple Podcasts.)
Our host and Partnerships Director, Nicholas Carman , shares his recent show highlights:
- David Kosky, Co-Founder of Work.LIFE
David acknowledged the challenges of running one's own business, from starting small and doing everything themselves to scaling up and building a team. He mentioned that persistence, positivity, and creative problem-solving are crucial in navigating the ups and downs of entrepreneurship.
"I think real estate is a great sector to be entrepreneurial in. There's lots of opportunities to disrupt and be innovative. If they've got that bug, they should do it."
2. Emma Osmundsen, CEO Sixty Bricks
On finding purpose and resilience: Emma emphasizes the importance of discovering one's purpose. Its not true success until you have tapped into to this and often you won’t be able to do it on your own.
"Success for me is a move from those heady days where it was all about your own personal achievement... For me now, I measure my success on the kind of performance of what I've built and the impact of those buildings and those placemaking communities."
3. Paul Clark, Head of European Property, AustralianSuper
On Team Management: Leadership involves being authentic, showing interest in people, and building trust. Maintain transparency, accountability, and encourage an open and honest environment within your team.
"On a personal level, be authentic, be yourself, and be interested in people. And perhaps that's not always easy, but you really, I think you really have to be interested in the people you work with. You need to be authentic about who you are. Make sure that you do offer the best of yourself."
ACRE Presents: Meet a Mentor
In November, we held our first 'Meet a Mentor' event where several of our podcast guests met with 50+ mentees starting out in the industry with the opportunity to network and continue a mentorship thereafter.
On the back of it's success we are keen to hold another similar event in the Spring of 2024.
If you're interested in attending either as a 'Mentor' or 'Mentee', register your interest here: Meet a Mentor Event - Macdonald & Company.
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Have a happy new year, we look forward to connecting again in January.