Employment Survey Highlights – Ending Q1/2010
Rutherford International has produced a Canadian Employment Survey gauging senior executive opinion on employment expectations in the commercial real estate industry.
Selected highlights suggest that corporate downsizing has reached its lowest point in the economic cycle with 28% of respondents anticipating expansion of management opportunities, and 56% forecasting growth in staff functions. Employee retention remains top-of-mind with “churn” of non-management and staff functions paralleling the economic recovery. As a result, we anticipate that companies and individuals are less likely to sit tight with the status quo; and will opt for change now as job growth mitigates career risk and size of severance awards.
As for the “Executive Suite,” turnover is anticipated by respondents to be relatively modest – less than 3% of survey respondents forecast further decline in opportunities.
Stated as a “percentage” of survey respondents, employment in the following functions are expected to increase: Administrative functions incorporating Admin, Finance/Accounting and IT – 21% positive response; Corporate roles encompassing Legal, Investor Relations and Analysis – 17% Value creating positions such as Acquisition/Disposition, Development, Construction and Leasing – 10% while Operation functions such as Asset and Property Management – 22%.
