In the past six months, the real estate sector has seen a 16 percent surge in hiring, with April 2024 alone witnessing 9 percent growth over March 2024, and registering 11 percent growth on a year-on-year (YoY) basis, according to data shared by job site foundit with Moneycontrol.
Companies large and small are on a hiring spree in the real estate sector, seeking talent for a diverse array of roles. However, this surge in recruitment efforts has not been without its challenges.
The industry is grappling with the daunting task of meeting escalating compensation demands, especially for candidates with specialised skills, who command premium packages. As competition for the top talent intensifies, real estate firms are under increasing pressure to offer competitive salaries and attractive benefits, reshaping the landscape of talent acquisition in the sector.
In the past six months, the real estate sector has seen a 16 percent surge in hiring, with April 2024 alone witnessing 9 percent growth over March 2024, and registering 11 percent growth on a year-on-year (YoY) basis, according to data shared by job site foundit with Moneycontrol.
This increase in demand spans both the Residential and Commercial segments, including investments in Global Capability Centres (GCCs).
Job site Indeed’s data revealed that Delhi, Bengaluru and Mumbai have seen the maximum hiring in the construction sector. This could be driven by a strong business environment, uptick in warehousing and industrial needs, commercial housing requirements as migration rises, opening of manufacturing facilities, and more, according to Indeed.
However, smaller cities such as Ernakulam, Kochi, Lucknow, and Kozhikode are among the top regions capturing job seeker interest.
Hiring spree
Real estate company Central Park intends to significantly expand its project team and support functions, including sales, marketing, and CRM. The company plans to hire over 200 professionals this year and is placing a strong emphasis on hiring hospitality professionals.
Approximately 20 percent of these hires will be fresh graduates from various disciplines, including engineering, business management, and hotel management.
Noida-based Womeki Group is looking to hire 500-600 employees as it expands over the next year across multiple positions.
Gaurav K Singh, Founder and Chairman of Womeki Group, said that the hiring strategies of real estate companies in India have undergone notable shifts, primarily driven by the industry’s growth and the evolving market landscape. “One of the key changes has been a heightened emphasis on digital skills,” he said.
Similarly, Century Real Estate aims to hire around 120 personnel this year. The company said it is on the path of exponential growth and that it has been doubling its topline every two years.
Further, The Guardians will also be hiring 200 personnel this year. “These additions will predominantly occupy roles in sales and marketing, crucial for supporting our strategic expansion at our firm,” the company said in an emailed response.
Shortage of mid-level talent
A paradox is emerging in the sector today: while junior roles are being filled with ease, real estate companies are grappling with an acute shortage of mid and senior-level talent. This talent gap threatens to disrupt growth and innovation in an industry already navigating economic fluctuations and evolving market demands.
Featured on Moneycontrol.
