Increasing alignment of corporate real estate’s (CRE) strategic goals with broader enterprise priorities is a key insight emerging from JLL’s top 10 CRE trends for 2019.
They include a mix of both priorities that are shared across the business (including CRE), as well as real estate-specific strategic priorities and operational imperatives.
Enterprise wide priorities impact CRE as much as any other part of an organisation, or CRE has a role in delivering or enhancing:
- Responsible enterprise: Like other functions, there is mounting pressure for the organisation to be more transparent and accountable. This incorporates data protection, responsible procurement, and high standards of ethics.
- Inclusive workplace: Companies that embrace diversity and inclusion perform better, and an inclusive culture can improve innovation. CRE can play a major role by facilitating an inclusive workplace that supports diversity in all its forms.
- Urban futures. Businesses are considering extensive range of factors to inform portfolio, location and talent strategie It’s not just about cost; other factors like resilience, access to talent pools, innovation ecosystems and more are also key considerations.
- Collaborative ecosystems. Reinvention and new ways to innovate are core enterprise priorities. Developing a network of internal and external partners is crucial in driving continuous innovation
We are also seeing new and emerging CRE strategic priorities that support the business:
- Future Fit enterprise: JLL’s 2018 Future of Work Survey of over 500 real estate leaders worldwide points to a strong correlation between best in class CRE strategies and profit growth. Organisations exhibiting characteristics such as experimentation with new technologies, and open innovation are more profitable than others. We call these enterprises ‘future fit’ as they are able to leverage their real estate to achieve business goals.
- Human performance. The confluence of technology and optimized workplace experience will boost employee and enterprise-wide performance and is an increasing focus for CRE.
Underpinning CRE and enterprise priorities, specific tactics and operational imperatives are emerging:
- Digital drive. Historically, CRE technology has not been a priority for CRE, but our research indicates that we are at a tipping point. CRE tech adoption and investment will accelerate sharply in 2019.
- Metrics that Matter. KPIs are a hot topic in CRE. Performance measurement will extend to new areas, while traditional metrics will continue to evolve. CRE teams will identify the ‘metrics that matter’ that enable them to demonstrate their impact beyond cost.
- Flex isn’t just co-working, and it’s evolving rapidly. Companies both large and small are increasingly implementing new space concepts and flex models whilst also reimagining their existing workplace to be more agile and dynamic.
- Space activation. A shared priority with landlords and owners, corporates are actively looking to invest in…
Is There a Silver lining amid COVID-19?
Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.
The time is ripe to embrace Industry 4.0
Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns
We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.
Covid-19 puts flexible space markets under strain
In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.
The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.
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