The workplace as we know it is undergoing rapid changes in response to innovations in technology and the integration of our digital and physical worlds. These changes are prompting companies to pay close attention to the way their people interact with their work space and maintain flexibility in their operations.
A new Future of Work model released from JLL charts a 5 dimensional path to help you prepare your space for the future and lead your teams through the changes in their workplace. The model presents a fresh outlook on the changing world of work and it’s impact on the next generation of commercial real estate.
Human experience, digital drive, continuous innovation, operational excellence, and financial performance comprise the five interrelated dimensions. How these dimensions are addressed—and which of these dimensions is given priority—will vary by organization and by industry.
Innovation takes on many shapes and forms, with the goal to just keep moving forward. Therefore, providing an environment that can foster creativity and progress is vital. Continuous innovation requires advanced thinking and execution across the value chain to maintain a competitive edge and embrace disruption.
In the future, organizations implementing continuous innovation will recognize that cross-collaboration with alliance partners drives innovative thinking; advanced technologies increase experimentation; and product innovation, networked solutions and open innovation produce entirely new services and products.
No matter what other innovations, disruptions or changes are going on, achieving operational excellence is a must for real estate teams. Getting the right team to drive excellence is critical. The right team is nimble enough to change its ability to deliver excellence to a rapidly evolving operation with the help of automation, robotics, and artificial intelligence, high-quality service delivery will ensure that people are protected and that physical operations are effectively managed and fully optimized.
Of the five dimensions, this one has the highest visibility and expectations—and yet, may be the toughest to change. Financial performance in real estate is usually measured in basic terms. Are we getting the best deal on our lease? Are we minimizing costs while maximizing occupancy? While all valid standards by which to measure real estate financial performance, they may undersell the functions potential value to the organization overall.
Aligning investments and metrics to ambitions and drive cost performance is imperative in financial performance. A successful strategy will employ real estate not just as a cost lever, but as a growth lever as well. This in turn will drive not only high performance, but also productivity and experience.