LMRE releases the Built Environment industry's Salary and Culture Benchmark Report

London, November 2024 – LMRE, a global leader in talent management for the Built Environment, is proud to unveil its highly anticipated Navigating Technology in the Built Environment 2024 Salary and Culture Benchmark Report. This annual report provides an in-depth analysis of hiring trends, compensation diversity, employee satisfaction, and the shifting workplace models shaping the industry today.

Key Findings from the 2024 Report Include:

1. Workplace Evolution: Hybrid working models dominate, with 71% of employees preferring a balance of 2–3 office days per week. Companies adopting this model are seeing enhanced employee satisfaction and retention.
2. Job Satisfaction Trends: While overall satisfaction has decreased slightly (63 out of 100, compared to 69 last year), medium-sized companies (101–500 employees) report the highest employee contentment, reflecting a balanced work environment.
3. Cultural Shift in Job Preferences: Beyond financial incentives, company culture (46.72%) remains the leading motivator for employees seeking new roles, followed by opportunities for growth (41.7%) and robust benefits packages (41.31%).
4. Compensation Diversity: Significant disparities in compensation persist across geographies, roles, and demographics. The report highlights a gender pay gap, with women earning 17.3% less than their male counterparts.
5. Equity Gap: While 80% of C-suite executives have equity, only 20–30% of junior employees report similar benefits, underscoring a need for more equitable distribution.
6. Benefits as Differentiators: Comprehensive benefits like healthcare, flexible working hours, and mental health resources are critical to attracting and retaining top talent.

The report underscores a cautious yet optimistic market, with a 43% increase in job openings compared to last year. Strategic hiring for leadership roles and an emphasis on clean tech and decarbonization marks the year’s key trends. Investment in AI and blockchain technologies continues to redefine operational efficiency and real estate liquidity.

“I am thrilled that LMRE has completed our third independent, in-depth salary report,” said Louisa Dickins, Co-Founder of LMRE. “I strongly believe that an organization’s employees are its greatest asset, and this year’s findings really highlight the unique opportunities within this emerging industry, not only for established founders and leaders but also for new professionals entering the field. As the industry forges ahead, understanding and adapting to this years’ report will undoubtedly foster a strong, more engaged, and resilient workforce.”

About LMRE       

LMRE is globally recognized for leading the way in Built Environment Tech & Innovation talent management. In 2018, after four years of building a traditional Real Estate Recruitment consultancy, visionary co-founders Richard Lloyd and Louisa Dickins launched LMRE to become the first global PropTech and Built Environment Recruitment business that is 100% focused on providing the best talent to the rapidly expanding Real Estate Technology market.

With a presence spanning four continents, LMRE’s specialist teams excel in Property Technology, Construction Technology, and Climate Technology verticals. Our global footprint and deep industry knowledge ensure we deliver top-tier talent solutions tailored to meet the unique demands of each market.