Real estate professionals in the UK suffering from poor morale with almost half wanting to quit

When questioned on their aspirations for the next six months by property recruiters Judd Farris, some 48% of property professionals said they are looking to move roles. This indicates that, despite the property industry looking increasingly stable, employees are lacking morale and are feeling disengaged, the company said.
 
It also shows that two thirds, some 67%, of respondents ranked career progression as the most important factor influencing their choice to change jobs, followed by poor work / life balance at 48%.
 
The survey findings also indicate that salary and bonuses are impacting employee morale. Over half, some 56%, have not had a pay review since 2008 and of those who have had a pay review in 2010, 41% received no increase to their salary, with 5% taking a pay cut.
 
Although 71% of employees qualified for a bonus, two thirds, 64%, noted this was calculated at the discretion of the boss and not linked to salary.
 
‘Employers should be concerned that half of their workforce could be about to walk out of the door. With the property industry showing signs of increasing recovery, employers will be unable to embrace the opportunities provided by the upturn if they fail to look after their most valuable asset – their employees,’ said Lisa Learoyd, managing director at Judd Farris.
 
‘Employers need to demonstrate a clear career path if they want to attract and retain the best talent in the industry. Many employees in the sector put their career plans on hold during the recession. Now they are feeling more confident about the state of the industry, they are looking to make their next move to achieve desired personal development,’ she explained.
 
She said that while it is encouraging that employees are receiving a bonus, she warned that with no formal means of calculation, favouritism or personality clashes may impact on their distribution.
 
‘The market conditions during the past 18 months have been so very challenging that salary review has become a sensitive issue. Employers would be well advised to treat reviews with extreme caution, as they risk falsely raising the hopes of their employees,’ she warned.
 
‘Our survey results should serve as a call to action for employers in the property industry. As the pace of improvement picks up, firms need to be competitive, and having an enthusiastic, committed workforce is central to making this happen. Employers should seek to show their best talent that their career and financial goals are high on the agenda,’ Learoyd added.