Why Relationships are Crucial to Your Tenant Engagement Strategy | HqO

Why Relationships are Crucial to Your Tenant Engagement Strategy

If you’ve been keeping up with the commercial real estate (CRE) market, you know that 2021 was a formative period of growth, consolidation, and significant proptech funding. 

Industry leaders faced an array of new challenges, including how to add value to their building’s tenant engagement strategy in ways that support every person who spends time in and around the workplace. 

Despite these challenges, the future of the workplace remains undeniably bright. According to Deloitte’s 2022 Commercial Real Estate survey, sentiments are positive about the need for physical work environments. In fact, about 77% of respondents are expecting some level of increased leasing activity in the next 12 months.

Above all, predictions for the new year indicate that the definition of tenant engagement, which property teams have historically prioritized to support tenant companies, is taking on a new focus that includes tenant companies, employees, and other members of the workplace. 

Enter: the era of broader, more holistic workplace engagement strategies.

New Year, New Tenant Engagement Strategy

To get the most out of a property’s tenant experience software and services, CRE teams need to align their office building’s physical infrastructure and technology systems with more inclusive and personalized workplace strategies that allow them to build relationships with every tenant and employee.

So, how are the biggest and most successful players in the industry achieving this in 2022? We surveyed our growing customer base of over 100 of the world’s leading companies to learn more about their workplace experience plans for the new year. 

Prioritize Closer Relationships with Tenants

Tenant and employee sentiment is the most critical factor driving property decisions in 2022.

With much of the global workforce undergoing changes in how they live and work, the success of physical workplace environments depends on providing valuable and memorable experiences that will safely draw people back to buildings and keep them coming back.

In new data from Workhuman, 63% of employees say that their companies will continue operating on a hybrid model, and of those returning, 77% believe they will feel more connected to their colleagues.

Fortunately, we found that property management teams are already willing to partner closely with tenants in order to understand the unique demands of the workforce and personalize their offerings and engagement strategies. Our survey indicates that 45% of property teams partner closely with tenants on their long-term workplace strategies, and an additional 29% partner with them very closely. 

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To further enhance these partnerships and bring people-first strategies into the workplace that will support employees, 54% of properties have staff dedicated solely to tenant engagement

This data is reflective of a broader evolution in property management, where the specialization of hospitality-focused roles is becoming increasingly popular across the industry to invigorate the entire workplace environment and drive tenant satisfaction

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Those properties that don’t have a dedicated tenant engagement role explained that they rely on property management, administrators, and even marketing teams to increase engagement with the people within their buildings.

As the workplace continues to evolve in 2022, office owners and operators will need the right platform to stay connected with modern tenants and employees. Interested in joining other leading companies and enhancing your workplace experience? Download our latest report or schedule a consultation with HqO’s workplace experience experts today.