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Title and escrow’s talent gap: A widening hole and how to fill it

How to attract the next workforce -- millennials
  • By the year 2020, the U.S. workforce will be composed of more millennials than any other age group.
  • 90 percent of millennials are looking for a career in which they can use their skills for the greater good.
  • Traditional career roles in the real estate industry are seriously lacking new talent, pointing to potential leadership gaps.

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It seems like all we hear about today in regards to the overall workforce pertains to millennials and their youth. It’s no surprise given the fact that the majority of the U.S. population currently falls into that age bracket, and by 2020 the workforce is predicted to reflect this. Combine this with the tech industry being the fastest-growing segment of today’s economy, and it doesn’t come as a surprise that in more traditional industries, the talent gap continues to widen. Unfortunately, the title and escrow industry is among those struggling to attract qualified fresh faces at a time when it’s imperative we bring in new talent. At an American Land Title Association webinar, two-thirds of the attendees said their staffs’ average age was older than 40 -- with nearly 20 percent saying their staffs’ average age was older than 50. As we experience the increasing retirement of baby boomers, the glaring lack of millennials -- despite their steep numbers -- means that ti...