What Success Can a Real Estate Bring in to an Organization and How Relevant is its Role?
Date: Monday , January 02, 2017
Real Estate plays a significant role in Corporate Strategies, wherein In Overall Planning as firms cope with economic downturn; strategies being implemented whereby the cost savings measures facilitates growth during rebound.
As companies seek new ways to enhance profitability in the wake of the economic downturn, real estate strategies play a large role in shaping the overall business direction, real estate and workplace changes being implemented today, as primarily cost saving measures will become avenues for growth when the economy rebounds. There was an oversimplification in the past when it came to managing corporate real estate, primarily related to how many square feet a firm had or didn\'t have, Today, that no longer exists. The management of workplace settings, allowances for mobile work, and collaborative environments are all elements of a comprehensive real estate strategy that has significant implications for the corporate bottom line. Majority of surveys have revealed that many organizations have a formal real estate strategy, indicating that their firms recognize that corporate real estate management can add value to the firm and that they are taking an organized approach to real estate decisions.
With the current focus on remote workspaces and locations - accommodations for mobile work, teamwork space and teleconferencing facilities ranked among the most important attributes of the workspace, companies still seek physical office space that is easily accessible to their employee force via major roads and highway infrastructure.
The work place in today\'s scenario is termed as Productive workspace and Real Estate plays a lot in adding value to the organizations objective whereby playing important role in employee engagement, employee motivation and talent retention. Nearly a quarter of the employee\'s time is spent in workplace - so it\'s important that their place of work should be an inspiring and have pleasant environment. The employees who like their office environment are more likely to be satisfied in their job. The better working environment would make them
more organized and enable greater job satisfaction. A pleasant working environment can really make a difference to the employees\' morale and is usually just a matter of thinking about your employees needs. Good morale brought about by small tweaks to office design or decor can help to increase job satisfaction and productivity making for a more successful, happier business. A well-designed office has a positive effect on mood, wellbeing, and productivity. Managing the Work/Life Integration of an employee. Time to get social at work, but set boundaries to improve productivity. Good design helps employees do both. The Corporate Real Estate team plays a vital role on a strategic level in creating a work space that evokes positive feelings and promotes productivity.
Companies around the globe are seeking to improve the bottom line and finding that investing in real estate (or at the very least, thinking about real estate more holistically) is a worthwhile way to add value instead of just cutting costs. As a company invests in a good workspace, the environment becomes a tangible manifestation of the company. As one of the greatest benefits of a well-designed workspace, an increase in engagement and productivity among workers and employees will feel a sense of belonging to the company and its culture.
In a knowledge economy, where productivity is driven by the workforce, companies need to be both talented and enabled. CRE is in a position to address both imperatives as workplace strategies reinforce the stickiness of talent to the firm by contributing to an attractive brand image, and enable the workforce to become more productive. In order to make the workforce thrive, corporate real estate team plays a critical role in providing the right environment and tools to create the most productive workplace possible, Realize the significant influence of location on workplace, and vice versa. Engage with the senior leadership; the success of workplace programs.
Corporate Real Estate has made considerable advances in its scope of duties and management practices over the last few years and it\'s the fact that CRE potentially can make a difference to an organization\'s success, and have proven it. Though there is plenty of room for improvement and thereby plenty of potential for an even bigger impact from CRE in the future.