Uprooting the Family
What’s the cost to the shareholders if a company cannot attract the best talent because of their inability to address an executives relocation costs and related issues?
Recruiting top executives has always been a challenge, but more recently with a booming economy, executives are more often than not well positioned in their current firm, so extracting them has become exponentially more difficult. When we overlay a relocation into the mix, it becomes even more difficult when we introduce family considerations, tax differentials when an exec is leaving a low-to-no state income tax state such as Texas, and a house sale that often costing tens of thousands of dollars in brokerage commissions and other costs.
To counter these issues employers are shelling-out generous relocation packages. According to compensation firm Equilar, the average relocation package for the biggest 3,000 publicly traded companies in the US totaled $144,633, and that does not include signing bonuses that are sweeteners to get the executive over the hump. In this environment, public companies are also increasingly faced with investor criticism for these payments. Institutional Shareholder Services (ISS), a proxy adviser, considers them “excessive perquisites’’ without links to performance. That’s all well and good, but what’s the cost to the shareholders if a company cannot attract the best talent because of their inability to address an executives relocation costs and related issues?
Job Listings
US Department of State Senior Realty Specialists
(ROSSLYN, VA) Position will act as the real estate professional and lead negotiator assigned to manage the sale, purchase, redevelopment, and decommissioning of the Department’s diplomatic property overseas.
WS DEVELOPMENT Design Manager
(CHESTNUT HILL, MA) Position’s primary focus will be to provide design leadership within cross-functional teams including development, construction, leasing, and marketing for a range of new and existing retail and mixed use developments.
(ALEXANDRIA, VA) Manager will manage the site selection and acquisition process including site identification and qualification, negotiation, exchange of purchase and lease agreements. Role will also be responsible for providing project management and financial oversight in delivering entitlements of new store on time and on budget for projects within the assigned territory.
JONATHAN ROSE COMPANIES Investments & Acquisitions Summer Intern
(NEW YORK, NY) Duties include: analyzing potential acquisitions; contacting brokers to obtain market information; developing financial models and pro formas; assisting in arranging project financing; and preparing applications for low income housing tax credits and other public subsidies.
KELLER AUGUSTA PARTNERS Construction Project Manager
(LONG ISLAND, NY) Client is a proven leader in the ownership, operation, and redevelopment of high-quality retail and mixed-use real estate in the country’s best markets. Position will manage day-to-day construction and tenant coordination activities for projects in client’s portfolio in the New York metro region. Candidate must have 7 to 10 years of experience in development and construction management functions.
NAIOP Director, Research
(HERNDON, VA) NAIOP, the Commercial Real Estate Development Association based in Herndon, Virginia, is seeking a Director of Research. The Director will be responsible for managing the day-to-day operations of NAIOP Research Foundation research projects, writing and editing articles for NAIOP communications platforms, and providing leadership and management of volunteer committees.
MAPLETREE Manager, Regional Property Management
(CHICAGO, IL) Manager will work with Vice President of Property Management, Technical Services, and Asset Management teams in leading all aspects of property management, procurement and development works, including initiatives for existing assets, managing and overseeing the performance of service providers, revenue generation initiatives.
REGIONS BANK Affordable Housing Asset Manager
(ATLANTA, GA) Role will be responsible for monitoring and measuring the financial performance of Low Income Housing Tax Credit investment assets to optimize value for investor and developer partners. In addition, the AM will perform financial analysis; schedule and execute site visits and work closely with respective general partners and property managers to ensure long-term viability of the LIHTC asset.
TRICON AMERICAN HOMES VP of Operations
(CHARLOTTE, NC) Duties include: creating tactical operational goals for the organization, primarily focused on property management and maintenance functions; developing strategies to promote the organization’s Purpose Statement, Guiding Principles and standards of service; and ensuring consistent process discipline is implemented in all markets.
ACKMAN-ZIFF REAL ESTATE GROUP, LLC Investment Sales Associate
(NEW YORK, NY) Investment Sales Associate will be a member of the sales execution team working closely with senior management throughout all stages of the transaction life cycle. Responsibilities include: creating written and quantitative analysis for new business pitches; analyzing new transaction offers; conducting research on prospects; and offering memorandum preparation.