The real-estate industry has undergone significant transformation over the past decade, with a compound annual growth rate (CAGR) of around 10 per cent. This rapid growth has created a highly competitive environment where the demand for skilled professionals often outstrips supply. Therefore, Savills, a global real-estate firm, remains committed to the growth and development of its employees. The company’s approach to learning and development (L&D) is not just about enhancing skills but also about creating clear career-advancement paths for its workforce.
The journey to establishing a robust L&D framework has not been without challenges, particularly in the competitive real-estate sector, where attracting and retaining top talent is a persistent issue. “Initially, we focussed on attracting the right talent and then conducting a comprehensive competency mapping for all levels and roles within the organisation,” says Kaushik Chakraborty, chief people officer, Savills India. He further adds, “This mapping led to a Training Needs Analysis (TNA), where it identified specific skill gaps. Although our industry isn’t particularly technological and doesn’t involve any unique or emerging skills, we discovered that certain areas needed improvement.” For instance, in the product-management sector, where many employees are engineers with strong technical backgrounds, the company found that communication skills needed improvement._
Crafting solutions: Savills’ comprehensive skill-enhancement programmes
Savills recognised that a strategic approach to L&D was essential for overcoming these challenges. The company implemented several programmes designed to enhance skills, provide career- advancement opportunities and foster a culture of continuous learning.
One initiative that stands out is the intensive communication-skills programme tailored for engineers in client-facing roles. Recognising that technical expertise alone is insufficient in these positions, Savills introduced a six-month intervention that delved into the nuances of communication—ranging from body language to optimal interaction techniques. This programme, targeted at a select group of engineers, led to significant transformative outcomes, enhancing their ability to engage effectively with clients and stakeholders.
Beyond communication, Savills offers a diverse range of training programmes designed to cater to different roles within the organisation. These include project-management certifications, leadership- development courses, and sector-specific training modules. “We adopted the 70-20-10 model for learning, where 70 per cent of learning occurs on the job, 20 per cent through special projects and 10 per cent through formal training. This model ensures that employees gain practical, hands-on experience while also benefiting from structured learning opportunities,” explains Chakraborty.
“Initially, we focussed on attracting the right talent and then conducting a comprehensive competency mapping for all levels and roles within the organisation. This mapping led to a Training Needs Analysis (TNA), where it identified specific skill gaps.”
Kaushik Chakraborty, chief people officer, Savills India
Career advancement for employees
Along with a robust L&D framework, the company is committed to providing clear and achievable career paths for its employees. Take its ’Own My Growth‘ (OMG) initiative, for instance, which encourages employees to take ownership of their professional development. This programme emphasises the importance of continuous learning and skills expansion, both within and beyond one’s current role. Employees are encouraged to participate in special projects, which not only contribute to their growth but also to the organisation’s overall success.
In addition to internal programmes, Savills offers international opportunities that broaden employees’ horizons and expose them to global best practices. The International Mobility Programme is a key element of this approach, allowing employees to work on short-term projects in different countries. This initiative not only helps in skill enhancement but also fosters a global mindset, enabling employees to bring back valuable insights and apply them to their roles in their home markets.
Tailored programmes for emerging leaders
Savills offers specific skill-development programmes required at various levels and roles within the company. For instance, the company understands the unique challenges faced by first-time managers, and therefore, has developed targeted programmes to support this group. To ensure that they are prepared for these new responsibilities, Savills focuses not only on training but also on creating a culture of coaching and mentoring.
Furthermore, it’s ‘Amigos’ programme pairs new hires with mentors to help them navigate the company culture and their roles. Similarly, the ‘Savillution’ programme targets management trainees, ensuring that every participant is supported by a mentor throughout their journey.
Additionally, Savills has developed quarterly learning calendars, tailored to the evolving needs of its business units. These calendars are created after thorough discussions with business leaders and are aligned with the initial training needs analysis. The transparency in publishing training hours and feedback scores for each intervention ensures that employees are aware of the resources available to them and can provide input on their effectiveness.
Evaluating effectiveness: Measuring success and incorporating feedback
Savills evaluates the effectiveness of its L&D initiatives with a data-driven approach. The company conducts annual surveys, which provide insights into employee satisfaction and areas for improvement. “Notably, training and development, which was once an area of concern, has now emerged as a strength for the company, reflecting the success of our efforts in this domain,” shares a proud Chakraborty.
For specific programmes, Savills employs pre-and post-assessments to measure the impact of interventions. For instance, in the communication skills programme for engineers, employees are evaluated on key parameters before and after the six-month training period. Similarly, in leadership programmes, psychometric assessments and other evaluation tools are used to track progress and identify areas for further development.
Employee feedback is also integral to the continuous improvement of Savills’ L&D programmes. Each quarter, the company publishes a learning calendar and transparently shares training hours and feedback scores with all employees. This open approach ensures that training initiatives are aligned with business needs and employee expectations, fostering a culture of inclusion and continuous learning.
Addressing talent retention in competitive real-estate markets
Attracting and retaining top talent is a significant challenge in the real estate industry, particularly in markets where competition for skilled professionals is fierce. Hence, Savills’ strategy for talent retention is multifaceted, focusing on creating a strong organisational culture, offering competitive benefits, and providing continuous learning and career-advancement opportunities.
One of the key challenges in talent retention is maintaining engagement among employees who have been with the company for several years and are now prime targets for competitors. Savills addresses this by offering international programmes and sponsorships that keep employees engaged and invested in their careers at the company. The international mobility programme, for instance, not only enhances skills but also provides employees with new challenges and experiences, reducing the risk of burnout or stagnation.
Savills also recognises the importance of addressing the specific needs of niche roles within the real-estate sector. As business needs evolve, so do the demands for specialised skills. The company’s L&D framework is flexible, allowing for the customisation of programmes to meet these changing needs. Whether through tailored leadership-development programmes or specialised technical training, Savills ensures that its employees are equipped with the skills needed to succeed in their roles.
Savills’ approach to learning and development is a testament to its commitment to employee growth and satisfaction. By addressing the challenges of attracting and retaining top talent, the company has developed a comprehensive L&D framework that enhances skills, provides clear career paths and fosters a culture of continuous learning. As the company continues to evolve, its L&D programmes will undoubtedly play a crucial role in its ongoing success.
