By Scott Fuller
The future of real estate management is now, and facility executives face a rapidly evolving landscape. Emerging technologies and shifting workplace dynamics are reshaping the industry, presenting both challenges and opportunities.
To thrive in this new era, facility executives must proactively adapt their strategies and embrace technological advancements. Three critical areas are essential for preparing for the future of real estate management: embracing the hybrid workplace, building a robust change management strategy with C-suite alignment, and leveraging artificial intelligence (AI), machine learning (ML), and data-driven platforms.
Embracing The Hybrid Workplace
The widespread adoption of hybrid work models has been one of the most significant shifts in recent years, a trend accelerated by recent global events. As a result, hybrid work is no longer a temporary solution but a permanent fixture in the modern workplace.
A decade ago, nearly everyone had an assigned desk and came to work five days a week. Today, many companies are moving toward neighborhood seating concepts and eliminating individual desks altogether. This shift often results in a shortage of desks for those who might have previously come into the office. Consequently, facility executives should prioritize flexible work arrangements by investing in technologies that support reserved seating when required and neighborhood-style office layouts. This strategy ensures more efficient space utilization and better accommodates the fluctuating office populations typical of hybrid work models.
Adapting to the hybrid workplace also involves creating an employee-centric office experience. Facility executives should engage employees in design decisions and gather feedback to ensure that office spaces meet their needs and preferences. This collaborative approach leads to spaces that employees want to use, enhancing the value and appeal of the physical office within a hybrid work environment.
Finally, it’s crucial to strike a balance between quantitative data and qualitative insights when designing a workplace that enhances both employee experience and productivity. By leveraging hard data on space utilization alongside employee feedback, facility executives can make informed decisions about office design and policies that genuinely support the workforce in this new era of work.
Securing C-Suite Alignment And Prioritizing Change Management
Technology plays a crucial role in managing evolving real estate needs. Facility executives must secure buy-in from top leadership for technology investments and build a change management strategy that ensures everyone understands how to use the technology and benefits from evolving processes.
Digital transformation doesn’t happen overnight. It requires budget and support. Therefore, facility executives need to effectively communicate the value proposition of the proposed changes and technology implementations to the C-suite, emphasizing how these initiatives will not only drive employee experience and improve efficiency, but also contribute significantly to the organization’s bottom line. Concrete examples and data can illustrate the potential impact, drawing on the success stories of other companies that have embraced similar strategies.
Executive buy-in requires alignment across many key stakeholders, including IT, HR, and Workplace teams. Their input and support will be crucial. By involving these departments early, facility executives can ensure that the technology strategy aligns with broader organizational goals.
From there, developing a clear change management strategy is absolutely crucial. This strategy should outline how new technologies and processes will be implemented, detailing the transition from current practices to future-focused solutions. It’s important to consider the impact on all stakeholders and how they will be guided through this transformation.
Developing a comprehensive communications and training program is essential to ensure that all employees understand the changes and how to leverage new technologies effectively. The plan should be accessible to team members at all levels of technical proficiency, providing clear guidance and support throughout the transition.
By following these steps and building a robust change management strategy with strong C-suite backing, facility executives will be well-equipped to meet the demands of modern real estate management with technology, ensuring their organizations remain competitive and well-positioned for future growth.
Leveraging AI, ML And Data-Driven Platforms
With the change management strategy in place and C-suite alignment secured, attention should shift to the technology that will drive transformation: AI, ML, and a data-driven platform. These tools are essential for revolutionizing real estate management practices.
AI and ML play a pivotal role in optimizing various aspects of facilities management, such as energy consumption, space optimization, and predictive maintenance. By enabling more precise and proactive decision-making, these technologies lead to significant operational efficiencies and cost savings.
A key advantage of AI and ML in facility operations is their ability to power predictive analytics. By leveraging historical and real-time data, facility executives can forecast future trends and potential issues—like fluctuations in energy demand or maintenance needs—allowing for proactive management. For instance, AI-driven predictive maintenance can analyze patterns in janitorial requests and foot traffic data to optimize cleaning schedules, leading to better resource allocation and enhanced cleanliness across facilities.
It’s important to note that the effectiveness of AI and ML depends on the availability of rich, contextualized data. With that in mind, adopting a comprehensive platform strategy is essential. The platform should aggregate data from various sources and offer a unified view of facility operations. It should support AI and ML applications, enabling data-driven insights and automation.
By converging data from disparate systems into a single analytics environment, data is democratized across the organization. This ensures that data is accessible to all relevant stakeholders, empowering informed decision-making and action at every level.
Looking Ahead
The future of real estate management is exciting and full of potential. By embracing the hybrid workplace, building a robust change management strategy with C-suite alignment, and leveraging AI, ML, and data-driven platforms, facility executives can position their organizations for success in this new era.
Adaptability is key to thriving in this evolving landscape. Staying curious, remaining open to new technologies and approaches, and always prioritizing the needs of employees and the organization in decision-making are essential.
To stay ahead, engaging with industry associations, participating in advisory councils, and committing to continuous learning is crucial. With the rapid pace of technological change, staying updated on industry trends and best practices is necessary. By embracing these changes and preparing for the future, facility executives can lead their organizations into a new era of smart, efficient, and forward-thinking real estate management.
Fuller is the VP and GM, Workplace Service Delivery for ServiceNow.
