To have a workplace with an environment that has dignity and respect it needs the CRE directors to participate in the development and change of the workplace by using the major key devices in management. The development of at the workplace must have a sustainable development that will not compromise the future generation 2020. There are a range of main factors that contribute to a transition in every workplace which inevitably lead to a workplace where talent can be used and customer experience can be enhanced. The change at the workplace can make the workers to be happy and be motivated creating a lot of advantages and benefits. As trust becomes the cornerstone to the survival of an organisation, there are a variety of developments that would certainly influence and modify its form and future. According to evidence and analysis, a variety of main drivers may be used to define the actual consequences for the investment and growth of real estate in the workplace (WORTHINGTON, 2007). Primary drivers that CRE directors can look into include workplaces, age, fitness and the cultural climate. In order to identify a solution by 2020, a variety of leaders of diverse real estate portfolios have come together to develop the future of the workforce in order to fulfil the rising demands it needs. There is proof that shows how infrastructure has improved along with the private capital demand that has made the economy to improve gradually. With the future 2020, investment will be an issue that will impact change in the rapid economic and social sectors that will lead to the transformation of the environment. It is also true that some of the patterns to be used are apparent in generating a propensity to expect the natural effects that would take place during the next five years. By 2020, the managers in at work places will have a change using the key drivers that will also have perfect new opportunities along with greater risks.
How can an Inclusive Workplace be like?
The human principles at any workplace should be fair to all the workers beginning from the top managers to the cleaners at the lower class workers. There should be respect, equality and dignity in both areas of an organization accompanied with the autonomy that is promoted in order to achieve the goals of the corporations. An inclusive workplace should have the following;
- The culture of the workplace should have a welcoming culture meeting the expectations of all the workers like respect, dignity and making them feel like they are value.
- The policies of the workplace should be in place while human rights and equality is exercised. Working conditions should also be at place, dignity work exercised and the have fair recruitment and procurement practices.
- All the members at the workplace should be aware of all the values that are in the organization. They should also be contacted or consulted in case of any problem and be involved in policy making.
- The workforce at the workplace should have a Representation to the community at large.
What is Expected by the Year 2020?
The workplace changes at the real estates plays an important key in the new future leading to substantial implications in the community investment. The real estate universe would be greatly enlarged, contributing to further and greater possibilities in the workplace. With the growth in the countries GDP per capita, there will be an expansion. With research, there is an improving growth on workplaces since the year 2012 and more is to be experienced in the coming decades. More number of working opportunities at the workplaces will be experienced leading to change of low risk and low yields at the advanced economies that will have the largest social migration thus introducing large construction surge. In terms of the importance of improving real estate workplaces, innovations would also be the main factor. The buildings at the major cities will have the best rating having the best sustainability in the large scope. This will make the workplaces to provide the workers and residents with places to work under and live.
The forecast will focus on the forecast methodology whereby the value of the real estates workplaces will deal with the utilization of the economic activity of the GDP by using the purchasing Power Parity and all the observations made at the workplaces.
Key Drivers in the Development of Workplaces
Any CRE Director will be required to come up with a session plan that is innovative and classic in order to meet the requirements of the year 2020. The directors should have creative trends, involve themselves in multi-generational working, develop strategic tools and plan good scenarios. Some of the trends that directors should look upon are; introducing new working practices, outsourcing, use of improved infrastructure and management of the workplace strategies. Under the Management, sustainability needs to be maintained at any workplace, emerging technology should also be involved along with the globalization of the environment with the ageing of the buildings. The CRE Directors ought to address a variety of important fields when designing workplaces. The following are the major key areas.
Sustainability and the Social Responsibility at Workplace
In sustaining a workplace, directors should ensure that they have met the needs of the workplace without compromising on the future (The Bruntland Commission, 1987). The directors should focus on the buildings that have no negative effects in terms of the natural environment and their surroundings should have a global setting. The environment the buildings are situated at should have support over human health thus providing efficient resources like energy and water.
The corporate social responsibility of the directors should also meet the lifecycle stage requirements as portrayed on the table below.
It should have both the social, environmental and economic requirements in order to raise a perfect workplace. With corporate social responsibility, the workplace business will be able to recruit the right people and make the employers to stay longer.
All workplaces need to have incentives in order to compete with the global business. This will also enable them to fit with the changing strategies. The structure of the payment to the workers will also be changed to better pay. This will change the motivation of the workers and encourage their behaviors thus increasing the financial returns. The tax and regulations that apply at the payment structure also matter a lot at the workplace. The organizations will also have a clear look at the attractions in the territories dictating when and where the employees will be employed. It will also go hand in hand with the base strategy of the business owners. The play field will remain to be uneven including the current one. Despite of different rules and regulations in countries that force the payment to be harmonized and be regulated across the world, the regimes will be aligned unlike the regulatory systems (CHAIWAT, 2014). The directors should only employ workers from different countries or regions that do not experience foreign jurisdiction.
Property Procurement and the Customer Focus
A large number of managers and directors do not realize the importance of property in the operational and financial management at a workplace. Setting up the right choices is the best start for any director and manager. They should understand both the long and short terms flexibilities. The should also budget the cost of the business, use the virtual office Teleworking Outsourcing short lease in order to come up with the right capital asset. The procurement options should also have a freehold or leasehold sustainability method that will analyze the environment and come up with the 2020 future.
The figure above explains how a director should choose a right procurement choice along with the right strategic choice and implementation in order to come up with the output. Leasehold is the best choice as compared to freehold since the business always works better with the research done by Donaldsons-Lasfer Curve. There is an optimum of 35 percent for the Freehold compared to 65 percent for the Leasehold.
The Figure Above Shows Donaldson’s Curve.
Director should always focus on the opportunities unfolding any workplace due to the fast changing of workplaces that will eventually need proper specialist skills and entrepreneurial spirit (ATKIN & BROOKS, 2014). All this will depend on the investment approach. Different sub sectors will be considered;
- Sub sector specialization- sectors like retirement homes, agriculture and development will eventually become sectors of their own making the directors and managers to specialize on the sectors thus creating more profits. This the first change of the environment, entrepreneurship will be one of the key benefits at the workplaces. The emerging economies will also benefit by earning high returns (THURLOW MOSS, P & FORSTER, 2004).
- Urban economic analysis- in the coming 2020, the cities will be the major economic engines thus making them to specialize in skills. Eventually there will emerge long term winners in the business creating competition.
- Deal structuring- the directors and managers will need to hire local expertise in order to ensure that the government is in tally with the workplace by meeting the agreed terms and conditions. For example, infrastructure, public and private sectors can be well catered.
- Asset Value management- acquiring the assets of a workplace and maintain is another key issue. Getting buildings that than sustain will be the best decision. Though they will require higher renting rates and technology adaptations can be costly but the output will be amazing. The asset managers will take the opportunity and ensure that they improve the buildings values.
- Product development- there is always a gap that is created between the banks and the capital structures. For the workplace managers that will develop the best entrepreneur structures will be rewarded.
- Risk and Reporting- the funds realized from the workplaces will be used in the controls; transparency, reporting and liquidating that will meet the demands of the investors.
- Regulation and Tax- for complex portfolios of workplaces, they increase the regulation thus increasing the demand.
Strategic Alignment of the Workplace
Directors should always apply the right alignment model at any workplace. It will help in changing the environment of a workplace by use of the configuration made by the directors and with the global competition. The resources of the organization should be included in the agenda being one of the most important assets. The management process should begin right from the choice, position then end up with the action. The position involves the environment of a workplace that should have both the political, economic, social and technological dimensions.
For example technological dimensions need the Directors to have the local knowledge that is very important at any workplace. This will be more challenging when the investment of the community increases creating a potential increase at the global markets (FERGUSON, 2014). The CRE directors will ensure that they have the right network of workers at the workplace since they involve complex real estate environments. Apart from investment at the workplace, dept knowledge will be required in at the local economies. They are required to come up with opaque terms and conditions that will ensure that the workplaces are well planned and partnered by their respective governments and find way on how to align with the government policies.
Transformation of Workplaces
Transformation begins from the office thus it proves to be part of the work environment. It also involves the change nature in terms of the office and the environment. Directors and managers should realize that the office is significant at any work place thus they should focus on the brief history of the office in order to progress. The office proves to be a factory enabling the CRE directors to have a plan office. The offices create a good communication network, personal relations and team spirit. There is also equality with improved productivity that leads to flexibility of a business.
The changing nature of a business can change due to factors like competition, technology and globalization. With Globalization, It leads to pressure that affects the operating costs of the business due to the expenses incurred from maintenance and overseas presence. It will need the directors to develop a local interaction in order to minimize the cost (MILLER, 2009). The scale of the business will also be boosted by out sourcing the non core functions at a workplace. Most of real estate business requires partners and service providers in order to improve the quality of their output. Technology will also play an important role at the workplaces. It will help in maintaining the costs thus having a potential of cost saving. Directors will ensure that at least each and every worker has mastered using the latest technology tools and machines. It will also assist in analyzing data analytics, communication and regulatory reporting (INTERNATIONAL SYMPOSIUM ON ADVANCEMENT OF CONSTRUCTION MANAGEMENT AND REAL ESTATE, YANG, & QIAN, 2014).
Performance Measurement and Benchmarking
Any work place should be measured in terms of production in order to measure the performance its business. It can be in terms of volumetric, monetary or Qualitative. With the new techniques, a business at any work place can be measured and be rated along with other global business. The directors should have a business perspective bearing in mind the property asset intensity, ROCE, balance scorecard of the business. The financial perspective should also be considered more especially the percentage of the tangible assets. The capital market perspective should also be considered by measuring the occupancy cost and the production cost. The gearing of the business is also measured along with the Economic Added Value with the Market Value Added. There are other measures that should be considered like income cost ratio of the business property, and the occupancy cost per employee.
Relocation and Change of the Productive Environment
There are different multi-disciplinary approaches on the space and management of a business. There are different organizations in terms of the location, price and cost, accessibility, size and future of the staffs and use technology. The location is an important aspect along with the physical characters like tenure and construction. With the future 2020 the directors need to plan in accordance to the demand and supply.
The organization is well planned along by measuring the demand. The analysis is based on the building along with the adjacencies.
In order for the directors and managers to create an inclusive workplace that will meet the requirements of vision 2020, they should consider the following (WORTHINGTON, 2007);
- They should meet the sustainability of the workplace and take full responsibility.
- Develop good property procurement.
- Come up with the right strategic plan.
- Change the office and the environment of a workplace that will lead to business development.
- Be able to measure the performance of a workplace.
- Creating change of the business organization in terms of demand and supply.
With all the above devices, there will be a number of implications at the workplaces leading to production increase with the size of the asset pools. The environment nature will also be changed thus encouraging adaptation for the survivals. All this will be successful if the Directors are allowed to think globally and understand the current world economy. Understanding technology and the possible ways of sustaining the asset valuations, there will be enough collaboration of the directors with the government thus enabling the social, economical and technological progress. The directors will also have the chance to compete with other workplaces thus creating the right opportunities creating a broad reflect range of risks. Opportunities will be created when the directors expand and globalize workplaces. Cities that are fast growing will have the opportunities to have more workplaces creating wide range of risks. Lastly, it will be important if they work in collaboration with the government policies.
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