Archive

Archive for February, 2015

Top 10 Lessons On A Mobile Workplace

February 24, 2015 Leave a comment

Here’s what we know:

 

  1. Mobile isn’t always mobile. To quote from Princess Bride, ‘You keep using that word. I do not think it means what you think it means.’ Depending on the organization, mobility can mean onsite mobile, mobile on campus or work from anywhere. Determine what mobile really means to the organization and then to build a strategy around it.
  2. Create an integrated team. The key players—Real Estate, Human Resources, Information Technology—are easy to identify. But given these entities have independent budgets, schedules, strategy and delivery, it takes trust-building, budget revealing and schedule gnashing work to integrate. But once it comes together, it’s the most powerful tool in the workplace arsenal.
  3. Pilot, then pilot, then pilot. Not even airline pilots come as singles. They all have backups. Mobile Work pilots are the same. Multiple pilots provide lessons over time, allowing the tuning necessary for any strategic change. Keep piloting.
  4. Avoid the pain of quick decisions. We often hear that real estate has a workplace emergency. There’s often a rush to get a pilot ready, to house employees from recent acquisitions or take advantage of a lease deal. Quick decisions drive commitments in occupancy that may play out over the life cycle of multiple leases becoming weights that carry performance implications for people as well as portfolio. Avoid that pain. Plan ahead.
  5. Find complementary funding. We can’t tell you how often we hear ‘that’s not in my budget’. To make mobility work, it has to be in all budgets with a coalesced plan of action. The good of the company, the performance of its people and the balanced cost model to allow that to happen should be the target. Learn how to complement one another to make this happen.
  6. Assume continuous learning. You won’t get it right every time. It’s a time of tumultuous change as we refine our personal lives to be more connected, digital and immersive. When the world is changing, we know that we can get close in workplace, but we also know that we’re part of a continuous learning cycle globally as work and life converge. Expect that to continue.
  7. Expect that evolution happens. Yes, we just agreed to this, but evolution in work process is moving rapidly. We’re drowning in information and grappling with ways to make that information work harder for us. Our work processes are changing in tandem. Embrace that this evolution is active, not historical. Learn to be agile with change.
  8. Build in congruence. We know what happens when one group wants to be very progressive while another prefers the status quo. There’s a tug for power, a struggle to effectively advance any idea. In order for the organization to be successful in its mobility program, the experts who lead the physical planning, the technology planning, the personnel planning and the business need to be fully aligned with their intent. Congruence pays for itself. Create alignment and excel.
  9. Set aside $ for POEs. We measure projects to gain feedback from employees but then fail to put a penny in place to make any changes they suggest. If you ask for opinions on effectiveness of mobile workplace and fail to act where fine tuning is required, what’s been accomplished? It’s best to set aside money, particularly on a new mobile workplace strategy, to allow for changes to be made not only in the project, but in the overall program
  10. Plan for change. This work is about capturing hearts and minds while building trust and creating new capabilities. Some will embrace change while others will struggle. We’re habitual creatures and mobile work requires new habits to be formed. Harder still, it requires old habits to end. We have to create a cohesive transition for mobile workers, providing knowledge about not only what to do and how to do it, but why it’s relevant for the organization to thrive. Plan this even more carefully than the physical environment, as it’s central to the success of any mobile work program.

 

The story originally appeared on Perkins+Will.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

 

Categories: Uncategorized

How Do People Find Commercial Real Estate Property?

February 17, 2015 Leave a comment

Google Inc. and LoopNet released the results of a joint study: Commercial Real Estate Consumer Online Behavior and Trends. The study, which aimed to understand the role the internet plays in commercial real estate, leverages Google’s proprietary online search data and custom research conducted on LoopNet’s behalf by Market Connections, an independent research firm, in 2014 to survey and analyze the behaviors of tenants and investors currently involved in a commercial property search and who have recently been involved in a transaction.

The joint study revealed that nearly 80% of tenants and investors report using online sources to search for commercial property. The study also found that six in 10 searchers begin their property searches on the internet before any other source. These findings correspond to a 60% increase in commercial real estate related online searches reported by Google over the last six years.

“This study confirms what LoopNet’s traffic trends have long indicated,” said LoopNet President Fred Saint. “The internet has quickly become one of the most valuable and widely used tools to connect buyers and sellers of commercial real estate.”

Some key findings from the study:

  • 80% of tenants and investors surveyed agree that they rely on the internet for their commercial real estate information needs more now than three years ago.
  • Over three quarters (78%) of tenants and investors surveyed use online commercial real estate services or tools at some point in their commercial real estate search.
  • Commercial real estate related online searches have grown 60% since 2008.
  • Six in 10 respondents search for commercial properties using their mobile devices at least sometimes.
  • Over half the survey respondents (55%) reported that they perform their own online searches for commercial property, even when they are working with a broker.

Along with the increase in online sources being used, there appears to be a decrease in other more “traditional” research methods. For example, only 7% of surveyed tenants and investors report beginning their commercial real estate searches by driving in the desired area. These findings are significant for commercial real estate brokers and firms who are marketing their services and available properties. With this study, LoopNet and Google hope to provide valuable insight to help them optimize their advertising efforts and reach more tenants and investors.

The story originally appeared on Globe NewsWire.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

 

Categories: Uncategorized

Valentine’s Day By The Numbers

February 10, 2015 Leave a comment

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

Categories: Uncategorized

Three Workplace Trends To Watch In 2015

February 3, 2015 Leave a comment

If you happen to work at Microsoft, Google, Credit Suisse, or Unilever, you may be slightly ahead of your time — but only slightly. Those four companies have been featured in a new research report on the future of work.

“Most of the changes we’ll see in the next few years have already started to happen, but they will accelerate,” says Peter Andrew, workplace strategy director for Asia at real estate company CBRE. “The future is already here.”

Why real estate? Simple: Many big commercial clients sign leases for a quarter century or more into the future, so the industry keeps an eye on how work, and the places where we do it, are most likely to evolve.

CBRE teamed up with Genesis, a forward-looking real estate developer in China, to conduct in-depth interviews and other research with about 220 expert observers, executives, and office workers around the world, many of them Millennials.

The study turned up some intriguing signs of things to come, like these three:

Artificial intelligence will transform the workplace. The era of automation, which has seen robots replace workers in routine jobs in warehouses and on manufacturing assembly lines, is shifting to “knowledge work.”

Among the advantages of teaching computers to gather information, and base decisions on it, is that “humans have biases. For example, people tend to be overly optimistic about a risky course of action if they’ve already invested a lot in it,” Andrew says. “AI eliminates those biases.”

It could also eliminate a lot of jobs — up to 50% of what knowledge workers do now, according to some estimates. Economies worldwide “won’t create new jobs at the same rate as we lose old ones,” says Andrew. “So there will be a difficult period of adjustment.”

Andrew likens this to what’s already happened within the legal profession, where computerization of routine research has slashed the number of new associates law firms need to hire. The upside: AI will free up human talent for more interesting, creative work. Eventually, we’ll all get used to it, Andrew says — especially since many of the tasks AI will take over are the business equivalent of household drudgery: “You never hear anyone complain about the invention of the dishwasher.”

Companies will need a Chief of Work. Most C-suites haven’t added new roles since the Chief Information Officer title took hold about 20 years ago, but CBRE’s research suggests that’s about to change. For one thing, companies today have “human resources, we have IT, and we have a real estate division — all acting separately and, often, unwittingly working against each other,” Andrew says.

A Chief of Work would coordinate all that, with an eye toward building a culture that attracts top talent, or what Andrew calls “the complete experience of working for the company, and how that affects performance.” Finding the most efficient balance between full-time employees and growing armies of independent contractors will be in the Chief of Work’s wheelhouse, too.

Office cubicles will be a relic of the past. For huge swaths of the knowledge-working, laptop- or tablet-toting world, technology has already made a desk in an office obsolete, or at least optional. So, partly in the interest of face-to-face collaboration, companies in CBRE’s study are thinking up ways to make workspaces healthier, more comfortable, and more fun.

One example: Old-school fluorescent lighting could be replaced by LED lights that can easily change color throughout the day to reflect subtle changes in the sky outside, like those lights on many airliners now that simulate dawn, midday, and dusk for long-distance travelers.

Companies will also move toward creating campus-like office buildings, like Chiswick Park in England, with amenities and events that draw people in. Andrew says more big companies around the world are starting to hand empty space, including erstwhile cube farms, over to local artists and musicians for use as studios.

“HR people tell us they see a tremendous increase in employee engagement from art, in particular,” says Martin Chen, chief operating officer of Genesis. “Making a more interesting environment, where you bring more of the broader culture into the space, creates a buzz and an energy that you really can’t replicate in any other way.

The story originally appeared on Fortune.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

Categories: Uncategorized