Rental Living Sector Leaders Tackle Talent Challenges

Author: Matt Halfpenny, ARL London & South East Hub Committee Member

In October, I had the pleasure of co-chairing an ARL Roundtable to discuss the challenges of attracting talent to our sector alongside Stephanie Smith, ARL Board member, Chair of the ARL Equality, Diversity, and Inclusion (EDI) Committee and Apo’s Head of Group Strategy.

We invited representatives from across the rental living sector including Single-Family Housing (SFH), Build to Rent (BTR), Co-living, Later Living, and Hospitality professionals to address a shared challenge: attracting, onboarding, and retaining talent. It was a fantastic discussion that extended well beyond the scheduled two hours!  

The roundtable, held at the stunning Bloom by Greystar development, attracted a great lineup of cross-sector experts, including Stephen Bunbury, Anish Thobhani, Cara Gallacher, Scott Murdin, Amy Scamell-Webb, Sebastian Moritz, Holly Birmingham, Ajit Nair, Grace Oyebunmi Oyesoro, and Christian Armstrong. The discussion touched on key themes, which later shaped a panel discussion at the London & South East Hub’s networking event with Sam Smith (Hub Chair), Chris Payne, Jackie Robinson, and Stephanie Smith.

Addressing the Talent Crisis: Key Challenges

Despite being among the UK’s most investable industries, rental living sectors still face hurdles in attracting and retaining employees. The panel discussed:

Talent Attraction

1. • Broadening the talent pool: Are rental living sectors casting a wide enough net to attract diverse candidates, or is the “rental living bubble” too insular?
   • Recruiting from the competition: Does this strategy stifle innovation and block new talent from entering the sector?

Onboarding Experiences

1. • Are current onboarding processes adequate, or are we losing talent prematurely?
   • How can onboarding better reflect the unique culture and opportunities of rental living roles?

Representation and Diversity

1. • Do operators reflect the communities they serve?
   • What actionable steps can be taken to create a more inclusive workforce?
   • As operators, do we educate investors on the benefits of diverse talent within operational assets?

Data-Driven Insights

1. • While data plays a significant role in the rental sector, how often is employee retention data tracked and analysed?

Company Culture

1. • Culture is a buzzword,  but what are operators doing proactively to create a positive company culture?

We came away with a number of tangible actions for the sector to address:  

• Explore opportunities to promote careers in the sector:
  Collaborate to improve access to meaningful work experience for young professionals entering the rental living sector.
• Facilitate Data Sharing on Salaries and Job Titles:
  Operators across the sector should work together to improve transparency and consistency in talent acquisition practices.
• Open dialogue:
  Commit to keep the conversation going  – to share progress, identify emerging challenges and respond with practical solutions.

Moving Forward

ARL’s inaugural attracting talent roundtable event was a dynamic and thought-provoking step toward addressing the pressing talent issues faced by the rental living sector. By fostering open conversations and committing to actionable solutions, we hope we can champion a thriving, diverse, and innovative future for all.