How to Attract More CRE Millennials

MIAMI—More than one-in-three American workers today are Millennials—adults ages 18 to 34 in 2015—and this year they surpassed Generation X to become the largest share of the American workforce, according to new Pew Research Center analysis of U.S. Census Bureau data.

This milestone occurred in the first quarter of 2015, as the 53.5 million-strong Millennial workforce has risen rapidly, Pew reports. The Millennial labor force had last year surpassed that of the Baby Boom, which has declined as Boomers retire.

How is the commercial real estate industry addressing this workforce shift? How will it impact the real estate and banking industries?

CREW-Miami is taking action. GlobeSt.com caught up with Marti Mang, senior vice president of corporate lending at TotalBank and CREW-Miami's president, to get some insights.

“Millennials want to be given the opportunity to lead and we should take notice of that by offering opportunities for them to share their ideas and take on more responsibility,” Mang tells GlobeSt.com. “In CREW-Miami, we have younger professionals serving as committee chairs and many of them are becoming rising stars in the organization.”

As part of the initiative UCREW, Mang explains, members spend time mentoring students at the University of Miami and Florida International University. Industry veterans offer advice and guidance as Millennials start developing their career paths.

“Through our engagement, we have secured internship and job opportunities for many of them and some students have then become members of the organization,” Mang says. “ Recognizing the talent and potential of the next generation and giving them opportunities to excel and lead can help the workplace, across all industries, to embrace and benefit from this generational shift in the workforce.”

CREW-Miami is also working to attract more women into commercial real estate.