Tiny Companies with a Big Problem
The tight job market is also putting pressure on wages because small firms experience a double whammy as bigger firms can pay more putting even greater pressure on what tiny companies can afford.
Tuesday morning the Wall Street Journal ran a front page article reporting that small firms are hiring employees at the lowest rate in eight years, and it’s not because they aren’t hiring. “Tiny” companies (defined as twenty employees or less) are struggling to attract and retain workers in the tightest job market in over fifty years. The tight job market is also putting pressure on wages because small firms experience a double whammy as bigger firms can pay more putting even greater pressure on what tiny companies can afford. 17% of private sector workers, about 21 million, work at companies with twenty or fewer employees.
Here is the punch line. A 2017 emerging trends report issued by the ULI and PWC indicated that in 2015 there were 46,843 firms in the commercial property building industry, representing 86% of the firms in the real estate industry, which had twenty or fewer employees. Since the report was issued the situation has become even more dire because the economy continues to expand, and construction is outpacing the labor to support it.
Job Listings
SPONSORED JOB RELATED COMPANIES Asset Management Analyst (NEW YORK, NY) Analyst will be responsible for the development, analysis and interpretation of financial and accounting data to evaluate operating results and operational efficiency in an effort to maximize value across the portfolio. Position will focus on the strategic real estate financial planning and performance monitoring of Related’s national market-rate residential portfolios as well as select commercial assets.
SPONSORED JOB CUSHMAN & WAKEFIELD Hotel Associate (NEW YORK, NY) Duties include: preparing complex and sophisticated financial and market analyses for a broad range of real estate transactions including investment sales, financings and joint venture equity investments; creating financing and investment memoranda; and assisting with marketing efforts to investors and lenders.
Director of Asset Management Realty Income Corporation (SAN DIEGO, CA) Position will execute property-level commercial renewal, leasing, and disposition strategy in accordance with portfolio goals and objectives. In this capacity, the Director negotiates renewals for non-credit tenant portfolio, new leases, and sale transactions to optimize the value of real estate properties within Realty Income’s portfolio.
SHOPCORE PROPERTIES Senior Analyst – Transactions (CHICAGO, IL) Position will be responsible for providing financial and strategic analysis while providing support to the Transactions department. Additional duties include performing analysis and support for underwriting, due diligence and closing of investments and dispositions by collecting information and preparing, reviewing, and summarizing various reports.
U.S. BANK Corporate Real Estate Transaction Manager (MINNEAPOLIS, MN) Position will focus on asset dispositions and redevelopments. Given the size and diversity of U.S. Bank’s real estate portfolio, the Transaction Manager should also have skills to support asset acquisitions, tenant leasing, and third party leasing, as well as asset management.
TRIMONT REAL ESTATE ADVISORS Financial Associate/Asset Management (SEAL BEACH, CA) Responsibilities include: analyzing property level financial statements including Operating Statements, Balance Sheets and rent rolls; analyzing property operations vs. operating budget and market; tracking operating and construction budgets; and reconciling loan draws for funding of construction, leasing and capital costs.
CITY OF AUSTIN – AUSTIN TRANSPORTATION Transportation Development Officer (AUSTIN, TX) Officer will represent the department director on transportation-related regulatory issues before City Boards, Commissions and City Council, and serve as a liaison with other City departments, development applicants and agents in the collaborative implementation of the Code and departmental initiatives.
FEDERAL BUREAU OF INVESTIGATION Facilities Project Manager (WASHINGTON, DC) The FBI’s Field Operations Support Section (FOSS) has an immediate opening for a Facilities Project Manager to work with Portfolio Management teams, as well as architects, engineers, general contractors, and government officials to design, permit, and manage the construction of office/flex properties.
CROWDSTREET Managing Director, Channel Development (PORTLAND, OR) Reporting to the Director of Investor Relations, position will develop key partnerships within channels strategically significant to CrowdStreet’s growth. Primary measures of success will be based on effectively leveraging partnerships to acquire new accredited investors and investments into the CrowdStreet platform.
RELATED COMPANIES – HUDSON YARDS Development Analyst (NEW YORK, NY) Analyst will focus on all aspects of real estate development including financial analysis and modeling, site acquisition, due diligence, zoning, legal document review, budgeting, construction and design. The Analyst will prepare detailed financial analyses and models including those for transaction underwriting and return on investment analysis, and will provide key takeaways to business units, corporate finance, and senior management.