GOODBYE 2024…HELLO 2025!
A Happy New Year to you all!
On behalf of us all at Property Personnel, I would like to take this opportunity to thank you very much for your support during 2024 and to not only reflect on the past 12 months, but also predict what we think might lie ahead this year.
The feedback from most of our clients was that 2024 was another challenging year, though with the general election and budget now done and dusted, further interest rate reductions predicted, and inflation at more manageable levels, confidence appears to be building. Indeed, many of you are forecasting a modest rise in both transactions and house prices in 2025. Fingers crossed.
From our perspective, as well as celebrating our 36th birthday, we also had our best year for many. For that, as always, I am eternally grateful to our amazing team of Allison, Georgina, Maddie, Charlotte and Agnieszka, without whom this would not have been possible. Between the six of us we have represented Property Personnel for almost 90 years – crazy!
We were delighted to welcome Agnieszka Lederer on board in January. Following 15 stellar years at Savills and Knight Frank, not only has Aga been an instant hit, as well as a delight to work with, but the Polish delicacies that she brings to our team meetings are to die for! Charlotte also returned from her 4-month sabbatical last April, having travelled around Thailand, Cambodia, Vietnam, The Philippines, Indonesia & Malaysia. Lucky lady!
On top of that, a special mention to Alli, Georgie and Maddie who have now been with us for 24, 14 and 8 years respectively. Loyalty beyond.
During 2024, the ‘war for talent’ continued unabated, with most employers finally realising that to recruit the best talent it is essential to offer a better work/life balance, one that includes flexible working conditions, shorter hours, fewer weekends, and longer holiday allowances. The exponential growth in the self-employed broker model is no coincidence, and the ever-increasing number taking up such positions is having a significant effect on talent availability.
We still have some clients expecting their staff to work every Saturday, and others not giving a day off in lieu for those who do. This not only seriously hinders their ability to recruit but, as importantly, invariably affects their staff retention in a negative way. Added to this, in roles such as Property Management or Sales Progression where it is possible to work either on a hybrid or remote basis, there will always be companies that will offer this flexibility for the same pay. Those that don’t risk losing their staff to those that do.
Looking ahead, we think that employers will continue to be cautious when hiring, especially with the increase in employer National Insurance contributions, and the rise in the minimum wage, both coming into effect this April. Both will make companies think twice before recruiting, especially at entry level where basic salaries are having to increase dramatically to ensure companies stay within the law.
With more and more Generation Z now entering the workforce, it is evident that they are wanting a workplace that values their well-being, social responsibility, diversity, and one that offers opportunities for learning and growth. This generation is not going to change their stance, so it is vital that employers do!
In view of all the above, we recommend that your No. 1 ‘New Year’s Resolutions’ should be to make sure your packages and working conditions are attractive enough to not only recruit the best staff but, as importantly, to retain them. Never has this been more crucial in an industry where the quality of your staff is invariably the difference between success or failure.
In closing, we would like to wish you a happy, healthy, and prosperous New Year and we look forward to working with you again in 2025.
