For the property management industry, 2011 is a tight period as far as hiring of property managers are concerned. We would hazard a guess that most Singapore Managing Agent companies have a hard time looking for experienced condominium managers. Experienced condominium managers have been moving around and the industry attrition rate is high.
The reasons for the difficulty in hiring are a few. Firstly, the polytechnics are not producing enough graduates in property management. Secondly, the job is a front line customer service role, subject to the tirade of unhappy customers. Thirdly, the technical know-how required is quite extensive – from legal to accounting to M&E, civil engineering works, security & human relations. No many people are that versatile to pick up such wide set of skills. Sometimes, the council members are engineers or accountants or lawyers. This puts additional pressure on the condominium manager to be on par with them in the discussions – tough. Finally, with a booming economy, most people have choice and could move to other more lucrative jobs.
It is envisaged that the situation would persist for a while until the next economic downturn when the labour market pressures ease and more are willing to consider a condominium manager's job.