Research Proposal: Resourcing in Real Estate

This research proposal examines the various resourcing methods utilized in the UK real estate sector, specifically focusing on Knight Frank. It outlines the research aims, objectives, and significance, while also discussing the theoretical framework and literature review. The proposal emphasizes the importance of effective human resource management in achieving organizational goals and suggests various strategies for employee sourcing, including internal and external recruitment methods. The research methodology is detailed, including data collection and analysis plans, culminating in a structured research timeline.

RESEARCH PROPOSAL
(Resourcing methods in real estate sector)

Table of Contents
RESEARCH TITLE: Resourcing methods used in real estate sector. ............................................1
Research Aims and Objectives....................................................................................................1
Background.................................................................................................................................1
Research Rationale .....................................................................................................................1
Significance of Research.............................................................................................................2
Theory.........................................................................................................................................2
Literature Review .......................................................................................................................3
Research Approach And Methodology.......................................................................................6
Research Plan .............................................................................................................................6
REFERENCES................................................................................................................................8

RESEARCH TITLE: Resourcing methods used in real estate sector.
Research Aims and Objectives
Aim: The aim of present undertaking is "to explore different method of resourcing used
by real estate sector of UK: A study on Knight Frank."
In order to achieve the above research aim, the objectives are settled to be:
 To analyse the importance of resourcing in real estate sector of UK.
 To assess the need of effective resourcing for Knight Frank.
 To analyse different ways in which Knight Frank can do resourcing.
 To recommend the method of resourcing to the Knight Frank
Background
Real estate sector plays a crucial role in the economy of United Kingdom. The
contribution rendered by the entity in the gross domestic product is highly appreciable and
concerned by the administration (Li and Tang, 2017).This sector is regulated as per the Scottish
and English land law. It is the largest marketing in the country and hence, a high level of
attention is required. The commercial segment of the UK's real estate has a size of around 250
billion euros. In context to domestic development, it is 5.1 trillion euros (largest non-financial
asset of the nation). Also, the business is not limited in the country only, the mentioned sector
does business of around 20 billion euros in foreign markets. In addition to this, the real estate
market is also booming online. The portals of the organisations belonging to the stated sector are
pushing the boundaries by accommodating the technological advancements in the business.
Knight Frank being one of the most reliable real estate company rooting in UK is a
leading player in the sector. The entity aims on the providing personalised, clear and considered
advice on all type of properties (residential, commercial, etc.) present in the major markets. The
company further concentrates on the personal interaction with the clients to ensure the matching
of their needs and demands (London St. Thomas Association of Realtor's, 2017). In order to
accomplish the business goals and objectives, effective human resources are needed that can
meet up the criterion of achieving success.
Research Rationale
The rationale of conducting this research includes various facts that supports the research
work. Firstly, being the largest market of the country, real estate sector required large number of
1

employees that can perform actions for it (Lind and Lind, 2017).However, it should be noted
that the people hired should be effective to meet the business needs. For this evaluation, effective
tactics are required by the real estate companies so that they can hire right people for their group.
It has been observed that the company goal of interacting with the each and every client
personality to identify their needs and demands, a large employee base will be needed to
undertake the operation. Thus, it becomes crucial for the Knight Frank to conduct effective
resourcing methods that can allow the deserving candidates to enter the firm to increase its
profitability.
Significance of Research
The undertaken research plays a crucial role in the selection of human resource: key asset
of an organisation. Employees of a company are regarded as the major element that assists in
achieving organisational goals and objectives. Further, in context to real estate sector of UK
which is largest of all, more number of employees are needed. In this order, resourcing methods
in the real estates keeps a prior significance (Lee, Stevenson and Lee, 2014). Moreover, the goal
of selected company, Knight Frank is to satisfy all the customers by rendering them with the best
services is possible only by various operations such as identification of their choice, personal
interaction, market analysis, etc. All these activities of the company will require employees
possessing certain set of skills. It is then up to the entity to make use of suitable tools in hiring
those candidates that fits the job requirements.
Theory
The present research revolves around the methods of employee sourcing for a company
working in real estate sector of UK. From the theoretical perspectives, there exist different ways
in which the company can hire people. There are basically two ways of hiring employees, which
are internal and external. Further, in these categories different type of workers sourcing methods
are there. For instance: Knight Frank can source employees with the help of referrals from the
existing workforce (Mackey and Gass, 2015). They can also post job opening online and on
social media platforms. Also, there exist different networks of recruiter which can assist in
identifying deserving candidates. It should also be noted that employee sourcing can also be
performed from within the organisation. For this, organisations are required to pay attention on
the raining and development of the employees.
2

Literature Review
Importance of resourcing in real estate sector of UK
According to Taylor, Bogdan and DeVault, (2015), human resources plays a crucial role
in any organisation belonging to any sector. The entity is thus required to pay attention on the
hiring methods so that effective workforce can be added to the company. In context to real estate
business, there exists varied range of operations that can only be performed with the person
having specialisation in the respective sector. In terms of UK, a nation which is highly concerned
with the real estate sector, it is essential for the organisations to have highly skilled labours that
can meet up the goals and objectives. Employee resourcing is one of the major role that should
be played by the human resource management. By adding deserving candidates, HRM can bring
effectiveness in the business operations.
However, as per the views of Flick, (2015) the real estate sector of UK is in difficulties
for some factors that are harming the overall market, some of them are workforce engagement,
competition of labour, increasing need of digitally skilled employees, increased retirement
figures and talent optimisation. In addition to this, the construction industry is also facing limited
workforce diversity. Hence, it has become necessary for the organisation to perform effective
resourcing operations. Their exist different method in which skilled employees can be gathered
by the real estate companies. These tactics will bring work effectiveness in the business
operations with the required set of competencies. This, in turn, will increase the performance of
company and boosting the business value.
The need of effective resourcing for Knight Frank
As per the views of Bansal, (2014), a real estate company demands employees with
varied skills and abilities for performing the different business roles. The manual operations of
the construction industry needs unskilled employees. On the other hand for the designing and
plotting operations engineers are required, accountants should be there for managing the finances
of he company, marketing operation requires employees who are effective in communication, for
management of the business functions, managers with desired competencies are needed. In
addition to this, highly skilled employees having effective knowledge of recent technologies are
also desired to cope up with the present era of digital advancements.
In context to the selected company, Knight Frank it has been observed that there are
various issues that are being faced by the entity and they can be resolved by adding fruitful
3

workforce. The establishment aims on the personalised help to the clients. For this, the entity
focuses on personal interaction with all the clients. In this action, a large number of human
resource will be needed to communicate with the customers. Further, the Knight Frank
emphasising on providing services as per the needs and demands of the consumers. In order to
accomplish this objective, human resource will be required for market research. The
establishment is also focusing on the employees that can help in increasing the ales of he firm by
making use of the effective marketing strategies (Malik, Nicholson and Morgan, 2016). It
should be furthermore recognise that in order to sustain in the present era of technologies, Knight
Frank is required to pay attention on the recruitment of highly skilled employees possessing
digital skills to boost the company sakes by simplifying the complex manual operations.
Different ways in which Knight Frank can do resourcing.
Czepkiewicz, Jankowski and Młodkowski, (2017), stated that as per the convenience and
requirements of the employees, organisations can use any strategy for resourcing from the large
number of existing tactics. These are basically of two types namely internal and external, rest
falls in these two categories. As per the views of Haynes, Nunnington and Eccles, (2017), Knight
Frank should undergo a large platform external recruitment process for hiring employees with
diverse skills and abilities. It will also provide availability of more options to be select from. The
company can conduct this at different places and on the premises campus itself. In this type of
sourcing process, openings are advertised so that more number of people can apply. Appel-
Meulenbroek and Haynes, (2014), contradicted the statement by saying that external recruitment
method affects the resources such as time and cost that harms the business value. As per the
perceptions, it is effective for the Knight Frank to conduct internal recruitment process. This
process will allow company to welcome those candidates who are already familiar with the
business operations. This factor will reduce the cost associated with the training and
development of the employees. Also, there will be no barriers faced while recruiting the people
such as culture, language, etc.
Also, there are various other methods that falls under the mentioned categories that can
be used by company to recruit employees. Knight Frank can source candidates through social
media platforms. This tool will help in covering more applicants. In addition to this, this option
will help in overcoming the issues such as geographical locations, language barrier, etc. Data
base are also a good tool that the chosen company can use. It requires minimum cost and
4

provides larger options to chose from. In addition to this, sourcing of employees can also be done
with the help of online job postings. This is the most simplest and inexpensive that helps in
covering large audience base. Besides this, the selected company can go for sourcing of
candidates from within the organisation. For this, the entity is required to pay attention on the
allocation of talent on the right place. A complete performance analysis is needed for this. After
evaluating the skills and abilities of the existing workforce, they can be placed at the appropriate
work role.
In contrary to this, Appel-Meulenbroek and Haynes, (2014), stated that the recruitment of
new employees brings so many additional losses to the company that can harm the business
value. Thus, organisations should pay focus on he training and development of already existing
workers. This will not only help in the personal and professional development of the workforce
but will also boost the work performance. This, in turn, will raise the profitability of business.
Recommendations to Knight Frank for employee sourcing
The selected company can improve the recruitment process by identifying the exact needs
of the functions that are to be played by the workers. There are some actions which are
recommended to the chosen company, Knight Frank for the sourcing of employees. The entity
aims on developing a good consumer base by personal interaction. This will require the local
employees that are having no language issue to deal with the clients. Hence, for this operation
the company is suggested to hire the local people. This hiring can also be done by making use of
the internal recruitment process. Under this, the organisation is suggested to provide referral
prizes for the workers who bring new employees for the function. This will increase the entrance
of employees. On the other hand, in order to involve skilled employees, the real estate company
is recommended to conduct an external recruitment process. This method will help the
organisation in ensuring the entrance of highly skilled candidates that will assist in increasing the
work performance. Further, it will boost the business value. In addition to this, it is suggested to
Knight Frank to make use of the social media sources for the effective outcomes. Thus, these are
the common ways in which the selected organisation can source employees for varied business
operations.
5

Research Approach And Methodology
Research methodology is regarded as an important chapters in research. The study of
methodologies helps in drawing a base plan that provide guidelines of carrying research in the
appropriate direction.
Research Approach: There are basically two type of research approaches which are widely
used, they are inductive and deductive (Lee, Stevenson and Lee, 2014). The present research will
include a questionnaire and thus, the approach of undertaking is selected to be inductive.
Research Design: There are different types of research design that can be chosen by the
researchers (Li and Tang, 2017). In context to the present work, both positive and negative
aspects of resourcing in the Knight Frank will be analysed and thus, the selected research design
is descriptive.
Research Philosophy: Basically, there are two types of research philosophies namely,
interprevitism and positivism (Lind and Lind, 2017). For the present research, the philosophy
chosen is interprevitism. It is because of the fact that primary sources will be included in data
collection.
Data Collection: There are two sources from which research data can be collected. These are
the primary and secondary sources. In context to the primary one, the information is gathered by
making use of interviews, questionnaires, etc. For the secondary data, tools used are books,
journals, internet, etc. (Mackey and Gass, 2015). In order to explore the different methods of
resourcing, secondary sources were used. On the other hand, for collecting the specified data on
the need and importance of resourcing in context to Knight Frank, primary tools were used.
Data Sampling: In order to gather the information associated with the need of resourcing in the
company, a questionnaire will be conducted. In this, 15 managers of the company will take part.
The questions will later asked form them on the basis of need and importance of resourcing in
context to the organisation.
Data Analysis: In this part of the research, the gathered data is examined by making use of the
appropriate tools. For the present research work, the tool is chosen to be thematic analysis.
Research Plan
In order to conduct a research, it is essential to prepare a plan so that each and every task
can be performed effectively in a stipulated time-frame. For the present undertaking, the research
plan is as follows:
6

Activity/Week 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Research proposal
Identification of research aims
and objectives of research
Literature review conducted
Research methodology
developed
Primary and secondary data
collection
Data analysis of the collected
information from primary and
secondary sources
Conclusion
Recommendation
Submission to tutor
Changes make on basis of
feedback by tutor
Final Submission of research
7

8