22 July 2008: A joint research report released today by professional services firm Deloitte and the Property Council of Australia, indicates the property industry is fighting back in the talent war.

More than half (60%) of the CEOs interviewed said that the skills shortage issue has become a regular feature on Board meeting agendas, reinforcing the importance of the strategic view to talent.

The Property Council’s CEO, Peter Verwer, said that it was encouraging that talent management has become a key business priority for Australia’s property industry.

“While far from being fully prepared for the battle that lies ahead, the report indicates that the property industry is beginning to strategise and put into place programs to confront Australia’s most aggressive skills shortage,” Mr Verwer said.

Presenting the findings of the report at the Property Council’s 2008 Congress in Cairns today, Deloitte human capital lead partner, Lisa Barry, told delegates that one in every three vacancies in Australia in 2012 will be in the property and construction industry.

“The industry is faced with rising salary inflation thanks to money wielding miners, critical skills shortages, an ageing workforce and a growing global industry,” Ms Barry said. “Those who are aggressive, innovative and flexible in attracting and retaining staff will be the big winners.”

Ian Breedon, Deloitte’s real estate lead partner, said that the survey respondents indicated that skills shortages affected their business on a number of levels.

“The top five problems reported were planning and costing, contract fulfilment, quality management, cost control and growth,” Mr Breedon said. These are some of the business fundamentals property companies need to get right to ensure Australia’s strong reputation in the global property marketplace continues,” he said.

Peter Verwer
Property Council of Australia
Chief Executive
Tel: +61 (0) 2 9033 1920
Mobile: 0407 463 842

Lisa Barry
Deloitte
Lead Partner, Human Capital
Tel: +61 (0) 3 9208 7514
Mobile: 0418 131 645

Ian Breedon
Deloitte
Lead Partner, Real Estate Group
Tel: +61 (0) 2 9322 5888
Mobile: 0418 615 175