1651069815593 Nov2018

Get Ahead of Retirements in Property and Facility Management

Nov. 27, 2018

Companies need to prepare for baby boomers to retire from management of facilities, properties and buildings, and have a plan in place to attract and retain millennial and Gen Z employees.

Building management encompasses so many different segments. No one person can – or is expected to – be an expert at all of them. Even managing different types of buildings can have its own set of unique challenges and priorities.

In the next five to 15 years, 50 percent of the current facilities management workforce is expected to retire, IFMA found. The immediate need is great to find facilities managers, building owners and property managers to fill those roles. Organizations and companies must take an active role in recruiting and training the next generation for these positions.

As baby boomers (classified as those born between 1946 and 1964) retire and older members of Generation X prepare for retirement, companies should look to recruit for those roles among:

  • Millennials: This group is larger than baby boomers, according to the U.S. Census. Generally classified as born between 1981 and 1996, many have been in the workforce for a while and would be a good resource to tap into for those with some experience looking to advance to the next step in their career.
  • Generation Z: The newest generation was born from 1997 on, and the oldest members are entering the workforce or in college. Now is the time to show them what’s available in building management and how they can get the skills needed for a successful career.

However, it can be difficult for the younger generations to get the proper training without resources and support available. Few educational institutions have facilities management programs. Companies need to offer mentorship and internship opportunities, and allow younger employees training both in-house and outside, such as job shadows or sending them to conferences and events.

The BUILDINGS media article “Attract Millennials and Gen Z to Facilities Management” talks to a millennial about how she landed in facilities management, what companies can do to be more active in finding people to fill positions and how the generations can use their differences as strengths to work together.

Unsure if your organization should have a facilities manager or property manager? Or are you early in your career and not sure what the difference is or which direction to go?

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Many of the duties – keeping buildings safe and secure, implementing water and energy efficiency initiatives, and dealing with third-party service providers – overlap. Knowing the differences will help determine what’s right for you.

With a plan in place today for how to fill roles as people retire, and what roles your building needs, you’re setting yourself up for a smooth transition and business continuity. 

About the Author

Valerie Dennis Craven | Director of Accounts, Stamats & Contributing Writer

Valerie is an experienced journalist with an emphasis in the B2B market. As the former director of editorial services for i+s, she led the editorial staff in producing the multiple assets we offer: articles, podcasts, webinars, social media, CEUs and more. Valerie enjoys writing about technology and the way people work.

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