September 26, 2018
As commercial real estate professionals, we are often the first people companies speak to when they are seeking to make a major change that will alter their company culture: identifying space. This is a huge responsibility, considering most companies attribute greatness to strong workplace culture.
Achieving high productivity and recruiting top talent are some of the factors that contribute to greatness. However, many companies get caught up in actively pursuing trends in an effort to be great without realizing that they’re entirely missing the mark with their real estate. This is where expert tenant advisory is key.
A strong workplace culture can be defined as an atmosphere in which team members are valued and know they are part of something with purpose and vision. In turn, they work more confidently and efficiently and deliver more success for the team, the company, and themselves.
How great culture is achieved varies from company to company, but it starts with getting to know the people you want to attract and retain. Chasing trends will not work, as one size does not fit all. However, culture enhancement will come from understanding workforce changes and requirements and tailoring the applicable trends to meet the needs of your specific business and people.
Millennials have had the most significant influence on workplace shifts and workspaces, and rightly so, as they represent the largest generation making up today’s workforce. However, many of the plans designed to attract millennials fall short in attracting and retaining more experienced talent, a dichotomy that exists particularly in traditional professional service industries.
Let’s use the example of the move toward shared workspaces. This concept is perfect for team building and boosting collaboration but is counterproductive for those who work best in designated spaces or whose roles require it. The differing preferences present an opportunity for leadership to develop a work environment that reflects their unique corporate culture and employee diversity, such as implementing a hybrid of modern and traditional office space elements.
It’s also important to advise companies to consider how external space factors align with their desired culture. For example, site selection can be based on a location where employees can choose to live and entertain their after-work hobbies nearby to encourage a sense of community and belonging.
When the look and feel of a workplace meet corporate culture, it becomes a powerful tool for talent recruitment, satisfaction, retention, and success.
– By Bruce Ford, President, Southeast