Table 27: Real Estate Projections, NPT
Sector 2013 Employment Projection (000s) 2030 Employment Projection (000s) % Change 2013 GVA Projection (£m) 2030 GVA Projection (£m) % Change Type of Sector Real Estate 0.8 1.4 75.0 102.6 323.4 215.2 Expanding
Source: Cambridge Econometrics projection data, 2014
Analysis of Table 27 shows that the Real Estate is expected to be a growth sector in Neath Port Talbot when 2013 and 2030 projection figures are compared. The sector is projected to receive a 215.2% increase in GVA (+£220.8 million) and a 75% increase in employment (+600) by 2030.
Figure 10: Real Estate Employment Projections, 000s, NPT
Source: Cambridge Econometrics projection data, 2014
The Real Estate activities sub-sector covers the provision of services in connection with property in both the private and public sectors, including its valuation or appraisal, planning, surveying, purchase, sale, lease and management. The Real Estate activities sub-sector is driven primarily by owners, investors, developers, funders and occupiers of property. The Real Estate activities sub-sector also includes social housing (housing associations and council housing), and private social landlords.30
The nature of skills used by employees within the Real Estate and Facilities Management sector is often dependent upon the occupation within which they are based. In the case of managers and senior officials for example (which represent a significant proportion of the
30 Accessed electronically via http://www.ukces.org.uk/assets/ukces/docs/publications/briefing-paper-ssa12- real-estate-facilities.pdf
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Real Estate activities sub-sector workforce) higher level skills (such as management and leadership) are particularly important.31
There are often significant barriers to training within the Real Estate and Facilities Management sector. These barriers typically revolve around a lack of time, financial constraints, staff reluctance to participate and difficulties overcoming language barriers. Additionally, employers may also be reluctant to invest in training if they feel that they will not get the benefit of this training in the long-term. For example, high staff turnover rates within the services to buildings and landscapes sub-sector often deter employers from investing in staff due to concerns that once the training is completed staff will search for better paid employment.32
The Real Estate and Facilities Management sector is characterised by an ageing workforce with 48% of employees aged 45 years or over. This is unsurprising given that the services to buildings and landscapes sub-sector typically employs a higher than average proportion of older staff. This brings with it a number of implications for employers in the sector – particularly around utilising the skills of older workers through the implementation of flexible working strategies and introduction of new technologies. It is increasingly important to attract younger workers to the sector through the development and delivery of qualifications, particularly within the services to buildings and landscapes sub-sector.33 Wales is below the UK average with 44% of the workforce aged 45 years and over.
Employers within Real Estate activities sub-sector require a range of transferable skills from their staff regardless of their specific area or position. These include communication skills (around literacy and numeracy), ICT skills, and team working skills. Written communication skills and, more specifically, report writing skills are important for certain staff within the Real Estate activities sub-sector, such as surveyors. ICT skills have become increasingly important across the sub-sector, now playing a vital role in how employees communicate. For example, websites have become a particularly important tool for estate agents, while social media is beginning to be used to communicate with customers and stakeholders across the sub-sector. While these methods do not require a huge amount of investment in terms of time and money, they do require staff with the relevant skills in order to make them work effectively. Strong management and leadership skills have also become particularly important as employers look to remain profitable (in the case of property) or provide a high level of service with fewer resources (in the case of housing).34
Management and leadership skills are likely to drive the move to work more efficiently across the Real Estate activities sub-sector. They will also have a particularly important role to play in ensuring change is effectively managed, whether this is in terms of working practices, or in changes in the structure of the organisations. With the rise of sustainability as an issue for all
31
Accessed electronically via http://www.ukces.org.uk/assets/ukces/docs/publications/briefing-paper-ssa12- real-estate-facilities.pdf
32
Accessed electronically via http://www.ukces.org.uk/assets/ukces/docs/publications/briefing-paper-ssa12- real-estate-facilities.pdf
33
Accessed electronically via http://www.ukces.org.uk/assets/ukces/docs/publications/briefing-paper-ssa12- real-estate-facilities.pdf
34 Accessed electronically via http://www.ukces.org.uk/assets/ukces/docs/publications/briefing-paper-ssa12- real-estate-facilities.pdf
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businesses in recent years and, more specifically, the introduction of the Climate Change Act in 2008, emphasis is now being placed upon energy management skills within the sub- sector. Energy advisors and assessors for example have an important role to play in ensuring that the sub-sector is able to reduce its carbon emission levels and assist in the drive to make homes across the UK more energy efficient. Knowledge of policy and legislation in this area amongst all staff will be important in ensuring that energy efficiency is successfully promoted and implemented across the sub-sector.35
5.2.1 Real Estate Recommendations
If the Real Estate and Facilities Management sector is to maintain a competitive position in the coming years, the following skills needs must be addressed in order to ensure that the workforce is capable and equipped to fill future workplace jobs:
Basic skills;
Change management skills; Commercial acumen; Employability skills;
English for speakers of other languages (ESOL); Greens skills;
Management and leadership; Technical skills;
Technological skills; and
Written communication and report writing.36
The following key priority areas for action have been identified:
Supporting employers in capitalising on the opportunities that technology brings to the sector;
Meeting the challenge of increasingly demanding customers. Encouraging professionalism and up-skilling;
Providing strong management and leadership; Responding to the green agenda;
Delivering adult literacy and numeracy in the workplace; Developing effective career pathways;
Removing barriers to training and delivering pathways to learning;
Raising the profile and attractiveness of the Real Estate and Facilities Management sector;
Addressing workforce retention issues; and
Addressing issues around gender disparity across the sector.37
35
Accessed electronically via http://www.ukces.org.uk/assets/ukces/docs/publications/briefing-paper-ssa12- real-estate-facilities.pdf
36 Accessed electronically via http://www.ukces.org.uk/assets/ukces/docs/publications/briefing-paper-ssa12- real-estate-facilities.pdf
37 Accessed electronically via http://www.ukces.org.uk/assets/ukces/docs/publications/briefing-paper-ssa12- real-estate-facilities.pdf
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