Skills shortage in the real estate industry – smart tools that make the difference

The figures are often alarming: more than half of all housing and real estate companies report difficulties in finding qualified employees.^[1] According to a Bitkom study, there are 149,000 vacant positions for IT experts^[2]. What is particularly alarming is that, according to a According to a forecast by the Federal Statistical Office, around 30% of the current labor force will reach retirement age in the next five years – that's around 12.9 million people.^[3] The shortage of skilled workers is undeniable. But opinions differ on how to solve this problem or at least alleviate the symptoms. In this article, we delve into the data, studies, and theories to identify solutions that truly make a difference. Spoiler alert: as always, digitization can provide a great deal of relief!

Skills shortage: a growing challenge

When people talk about the shortage of skilled workers, it often sounds abstract – until you feel the reality in your own industry. The real estate industry is one of the areas particularly affected. Whether in construction management, facility management or administration: there is a lack of people everywhere to drive projects forward and keep operations running. With the growing demands of sustainability and digitization, the search for talent is becoming even more difficult. In addition, around 30% of the working population will retire by 2030. This loss will particularly affect manual and technical occupations, where many employees are already older today. Who will replace this experience and expertise? This is a question that concerns many companies – and often remains unanswered.

It's not just the vacancies that are creating pressure. It's also about the quality of the appointments and whether the right skills are available in the team. In the real estate industry in particular, we are experiencing how important IT know-how has become: from the introduction of smart building automation to the efficient use of ERP systems – those who lag behind not only have a shortage of skilled workers, but also miss out on the opportunity for sustainable growth. The skills shortage is therefore more than just a number or a trend – it is changing the rules of the game for companies. And the sooner they take on the challenge, the better prepared they will be for the future.

82% skills shortage: what do the studies say?

Many studies shed light on the shortage of skilled workers as a challenge that companies have to approach strategically. The “Shortage of Skilled Workers 2024” study by ManpowerGroup^[4] shows that the situation varies depending on the size of the company and the industry. Large companies often have it easier because they can invest more resources in recruiting and training, while smaller companies have more difficulty filling positions.

It is also interesting to look at the sectors: while there is a particular shortage of skilled workers in the service and healthcare sectors, IT and data processing, manufacturing and production, and operations and logistics are among the top occupational profiles. This is also creating new challenges in the real estate industry: from the use of data-based tools for real estate management to the development of sustainable operating concepts, more and more technical know-how is in demand. It is no wonder that the demand for skilled workers with digital skills has been steadily increasing in recent years.

From a global perspective, the picture is also clear: the shortage of skilled workers is an issue that affects companies worldwide – albeit to varying degrees. Germany faces particular challenges in this regard and has the second-highest percentage of skilled labor shortages after Japan: 82% of German companies have difficulties filling vacancies with suitable skilled workers.

Impact on companies

This is not without consequences – especially for the real estate industry. Projects are delayed, customer satisfaction drops, and innovations come to a halt. The shortage of skilled workers also affects competitiveness. Companies that cannot find suitable employees fall behind in terms of growth and innovation. Studies estimate that the shortage of skilled workers alone costs the German economy billions every year.^[5] In the real estate industry, increasing demands such as sustainability standards and digitalization are further exacerbating this effect.

The costs are not only financial: overburdened teams lead to decreasing motivation and increasing fluctuation. In a market where qualified talent is scarce anyway, every departure can trigger a domino effect. At the same time, the “war for talent” is raging. Those who do not proactively create attractive working conditions – be it through further training, flexible working models or digital tools – will fall by the wayside.

But there are solutions: companies that invest in technologies such as ERP systems or automate tasks at an early stage can relieve the burden on their teams and work more efficiently. It's not just about filling positions, but also about empowering the existing workforce and acting strategically.

Possible solutions: how companies can counter the shortage of skilled workers

The shortage of skilled workers is forcing companies to rethink their processes. Particularly in the real estate industry, where the demands of digitalization, sustainability and rising customer expectations are growing, companies need smart strategies. The key lies in efficiency: if you have fewer resources available, you have to make more of them. Streamlining processes and relieving the burden on teams is crucial here.

A central lever here is digitization. Automated workflows, integrated platforms and intelligent solutions take over routine work and create space for strategic tasks. But how do you implement this in practice? With digital ready-to-use solutions such as PROMOS.GT ready2, companies can efficiently control central real estate processes such as the digital rental agreement file, automated utility billings, and the management of repairs or modernizations. An ERP template like ready2 offers predefined workflows that can be easily adapted. This not only saves time, but also ensures that employees can focus on value-adding activities.

Mobile applications such as the easysquare Professional App also offer practical features that help employees. Processes such as damage recording, tenant changeover, and mobile approvals are seamlessly integrated into SAP^® and can be efficiently implemented on site. This not only makes everyday work easier, but also improves data quality. The intuitive user interface and the clear definition of process steps – from damage reports to final approval – ensure a structured process. This means that all parties involved are kept informed at all times and delays can be avoided, even when resources are scarce.

In the future, AI will increasingly come into focus and provide solutions to the challenge of the shortage of skilled workers. AI-based systems can recognize patterns in large amounts of data, create forecasts and support decision-making processes – for example, in optimizing utility cost accounting or predicting maintenance requirements. AI is also gaining importance in recruiting. Smart algorithms help to identify suitable talent faster, analyze CVs and make application processes more efficient. In the real estate industry, AI is also already being used in the form of digital assistants that automatically process tenant requests or filter damage reports – such as PROMi from the easysquare tenant app. The advantage: employees are relieved of time-consuming routine tasks and can concentrate on strategic, value-adding activities.

It turns out that the right tools can be used to cushion the impact of the shortage of skilled workers. More efficient processes create the basis for a modern way of working that not only retains talent but also motivates it.

Conclusion

The shortage of skilled workers remains an urgent challenge, especially for the real estate industry. Vacancies, increasing demands and the migration of experienced employees further exacerbate the situation. There is no complete solution – but smart approaches can help. Digitization and automation make it possible to use resources more efficiently, streamline processes and reduce the burden on teams. Tools such as PROMOS.GT ready2 or the easysquare Professional App help to make everyday life easier and to remain capable of acting despite limited capacities. Those who seize these opportunities gain valuable time to develop long-term strategies and assert themselves in the “war for talent”.

Sources:

https://www.e-b-z.de/presse/news-und-pressemeldungen/ebz-personalentwicklungsstudie.html?
https://www.bitkom.org/Presse/Presseinformation/Rekord-Fachkraeftemangel-Deutschland-IT-Jobs-unbesetzt?
https://www.destatis.de/DE/Presse/Pressemitteilungen/2022/08/PD22_330_13.html
https://www.manpowergroup.de/-/media/project/manpowergroup/manpowergroup/manpowergroup-germany/studien_pdf/meos/mpg_studie_fachkraeftemangel_2024_de_infografik.pdf
https://www.welt.de/wirtschaft/plus251513626/Arbeitsmarkt-Deutschland-befindet-sich-wirtschaftlich-in-einer-Krise.html?

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