Once upon a time, workplace technology was looked at as a supporting tool that tenants and employees used, on occasion, to help them do their jobs. Now, the importance of tech has been brought to the forefront of the modern work environment. Landlords and property teams, alongside employers, are realizing that their traditional systems no longer worked effectively to support a mostly hybrid workforce. Because of this, businesses are beginning to reconfigure their operations to meet employee needs and enhance the workplace experience — for tenants and employees alike.
Changes in the Workplace
In Mckinsey’s article, New operations management systems for a digital world, they dive into how management disciplines are redefining themselves through technology. Since the COVID-19 pandemic forced most corporate workplaces to virtualize their operations, organizations had to reimagine the tools and assets they used, and determine which ones would keep their companies profitable and successful in the future. Likewise, property teams needed to provide these tools in the physical workplace to better attract and retain tenants.
Additionally, McKinsey’s productivity survey reveals that changing a company’s operating model and organizational structure is the most important people and organization lever for achieving deep and lasting change. That type of fundamental management calls for updated systems to enhance the modern workplace environment, so that organizations can continue to reap rewards from their technology investments. In fact, landlords and property teams have already begun to instill these organizational and technology changes to increase tenant and employee productivity, engagement, and satisfaction with the workplace.
The Great Resignation is also increasing the pressure for organizations to quickly modernize their operations. In order for companies to stay ahead of the curve, they need to stay up-to-date with the latest technology and management systems.
Pre-COVID-19, approximately 18 percent of executives suggested increasing their investment in digitization and automation by over 20 percent. Today, that portion is as high as 34 percent. And, if tenants are already increasing their technology infrastructures, that means that property teams need to better equip their buildings to support tenant demand. Today’s workplace is mostly, and in some cases completely, experienced through tech.
Tenants and employees want flexible work conditions and a better workplace experience. Companies that better understand and refine the workplace experience have an opportunity to turn attrition into attraction. To achieve this,office buildings are embracing tenant and employee experience platforms that make employees feel more connected and satisfied with their office. But, in order for employers and landlords to attract and retain tenants, these tools need to be supplemented with a better in-office experience.
With the hybrid workplace solidifying its stake in commercial real estate, technology and workplace experience software have never been more important. Whether tenants and employees are on-site or remote, organizations need processes that support efficient collaboration, community, and productivity.
There is no better time than now for both landlords and employers to make these changes and investments
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