Youth employment in the property industry

According to Stats SA, the unemployment rate for Q2 of 2021 is estimated at just above 34% of our population. The statistical release on the Quarterly Labour Force Survey noted that “there were about 10,2 million young people aged 15–24 years in Q2: 2021, of which 33,0% were not in employment, education or training”. It also noted that the number of discouraged work-seekers had risen by 5,9%.

These numbers are staggering. No wonder some of our young people have become discouraged from participating in the labour market and are not building their skills through education and training.

To fight the country’s unemployment rate, our government is dependent on reliable organisations in the public and private sectors. As an industry, we have to play our part and find ways to give young people the opportunity to develop themselves.

The impact of Covid-19

The pandemic has affected everyone and the vast majority of businesses. Its most lasting impact is likely to be on the young generation, with many businesses not employing anymore, retrenching, and halting their graduation schemes, experiential learnings and apprenticeships programmes. This all is due to cash flow difficulties and the state-imposed regulations to fight the spread of the virus.

Despite all of this, there is still a reason to be optimistic about the future. The government announced in 2020 that it would be providing financial aid to certain businesses.

Businesses have adjusted and are stabilising. There is no reason to panic. I believe we will get through this, but we need to bring our youth onboard in our plans for a bright future. While this could be life-changing for individuals, it could also be transformational for businesses in the long run.

The Fourth Industrial Revolution

Young talent brings fresh minds and fresh ideas to take advantage of technological advances. Employees entering the workforce for the first time bring enthusiasm and new energy to the business.

It is vital that businesses look to free up some capacity in their more experienced team members to train the younger generation and share intellectual capital before they come to the end of their careers and retire. Such long-term thinking and succession planning will assure the future of organisations in the property industry.

Our youth is so in tune with and attached to the application of new technologies. They just need the opportunity to be part of this “Fourth Industrial Revolution”, and we’ll all reap the benefits.

Generally, young people demonstrate a high degree of technical competency and will champion and stand out in the real estate industry.

Advanced technological application will cut down significantly on unnecessary costs incurred through manual and physical connections. Already, our focus on technology has not only benefited our employees, but it also has made our industry more accessible and helps our clients interact with us easily in innovative ways.

Customer/Client Relations

It’s much easier to adapt flexible young talent to suit our industry needs through great communication and mind-blowing ideas. Their enthusiasm is contagious, and our clients are looking to interact with such individuals.

Our organisations need to be flexible and agile to stay relevant and youthful anticipation of future needs offers further insight and problem-solving we can build on.

As the Greek philosopher, Heraclitus said, “The Only Constant in Life Is Change”. The future is bleak for property brands that are resistant to change.

Writer : Kaitlyn Watts

Courtesy of Private Property | Avela Mbada from Just Property Emalahleni