Blog Img

Build to Rent: An update on the hiring market

What are the market predictions for the Build to Rent hiring market?

Nick Hammond, Head of Build to Rent at deverellsmith, provided an overview of what trends he believes the Build to Rent sector should expect in terms of hiring, employment, talent attraction and retention. You can watch the clip below or keep scrolling to read the overview.

During the first quarter, there was a decline in transaction activity attributed to low investor confidence and an all-time high in inflation. Notably, investment and development companies experienced a significant reduction in permanent vacancies while operational companies remained active due to new site launches and natural attrition within the existing 78,717 completed BtR units. Many analysts anticipate a resurgence in global investment activity in the latter half of the year, leading to an increase in hiring demand.

To prepare for this, deverellsmith recommends that companies promptly review their hiring strategy since more candidates, particularly at the senior level, are serving longer notice periods. Additionally, companies should prioritise retention and upskilling within their existing workforce to enhance productivity and increase loyalty ahead of the rebound. In the short term, interim or temporary contracts could enable companies to deliver goods and services despite the uncertain economic outlook.