FM Alert: Corporate Real Estate Becoming More Aligned With C-Suite

corporate real estateThe corporate real estate (CRE) function is becoming more closely aligned with the C-Suite, according to nearly three-fourths of the respondents in a recent survey conducted by CoreNet Global and Sodexo. The survey also found another strong majority (87.8 percent) of the respondents agreeing or strongly agreeing that there is an increased focus within companies on the strategic aspects of CRE.

However, while there is a great deal of awareness of CRE within the corporate community and among clients, awareness among college graduates, the media, and the general public is lower.

“CRE executives say in the survey that greater emphasis needs to be made to demonstrate in a more public context the connection between the CRE function and a company’s bottom line,” said Tim Venable, Senior Vice President at CoreNet Global. “This is something that many companies represented in the survey are addressing by leveraging strategic and leadership positions within the organization to enhance awareness of the CRE function.”

Other strategies to enhance the public image and perception of corporate real estate include greater ties to academia, a more active embrace of corporate sustainability, and stronger links to the community.

corporate real estate
(Credit: Jupiterimages)

“The survey found a high degree of satisfaction within the profession, as a majority of the respondents agreed or strongly agreed that CRE is an attractive profession for ‘people wanting a fast-paced career, with opportunities for quick advancement,’” said Mark Bickford, CEO, Sodexo Corporate Services, North America. Bickford said that a majority also agreed or strongly agreed that CRE provides attractive earning potential.

CoreNet Global is the leading professional association for corporate real estate executives and Sodexo is a leader in delivering sustainable, integrated facilities management, and foodservice operations. The survey was conducted in late 2015 and respondents included a mix of corporate real estate end-users, service providers, and other functions associated with corporate real estate.