Advisory Banner

ADVISORY

ADVISORY NEWSLETTERS

WeWork is Revolutionizing the Way Businesses Think About Their Corporate Workplace

When we consider an office, we traditionally think of it as a physical space: a building or floor and the tables, chairs, filing cabinets, and other furniture that fill it; an office is an entirely physical entity rather than an interactive space. But with the rising popularity of space-management businesses like WeWork, the idea of the traditional corporate office is shifting away from real estate and facilities toward agility and experience.

So too, has the department responsible for workspace management changed. In the past, a facilities manager focused on the tangible items; now IT and human resource departments are involved in how space is serving a company and its workforce. Facilities managers will continue to manage the physical aspects in an office, while IT team members will build systems that keep all the company’s office-related data in one place and the human resource team monitors the data to better understand employee satisfaction.

When we talk about an office being agile and experiential, what we’re really talking about is the needs of your workforce. No two employees are the same, nor is one person the same on Monday as they are on Tuesday. Each day and each person pose new challenges for which a business must be equipped. This might include the option to work remotely or in a satellite office; it may also include a choice between a standing or sitting desk, couch or quiet room.

Be a Little Needy
Catering to every employee’s individual needs can seem exceedingly difficult and cost prohibitive—unless you have the data and technology to make it happen. The reason WeWork is such a popular place for individuals to work is their effective use of data and technology to create a fun, compelling experience. Every aspect of a person’s experience in their facilities is managed through an app; it begins when the individual enters, signaling that their membership is active that day. It continues on to track which desks and conference areas are popular among particular people or businesses; their frequency of use in both number of days and times of day; and how frequently they move between the different locations around the world.

It may feel invasive, knowing when and where an individual is sitting and how often, but this data allows companies using similar Space-as-a-Service models to improve users’ daily lives. But first, users need to feel empowered to make their own decisions.

The User as Master
It’s sometimes an awkward process for an employee to express their workspace needs—most people do not want to be perceived as the difficult employee. But not having what you need to work effectively and, perhaps worse, not knowing how to get what you need can sow dissatisfaction. This is why apps like the one used by WeWork is important to help a person curate their own work experience. The success of these platforms is driving many enterprises to prioritize delivering the same central but agile experience in their own corporate offices.

Whether you work in a co-working site or in your company’s office, employees have a strong desire to move around, find a conference room, or just huddle with fellow employees. However, the ability to find an open desk or conference room does not easily exist. Companies like Teem, SpaceIQ, and Robin are providing software and employee apps that put these capabilities into employees’ hands. You can reserve a spot for yourself in the moment or in advance, searching your screen for that day’s prime real estate, or to identify a free huddle room. This not only helps you have the best experience, but it lets your coworkers know where to contact you for assistance on a project. It also provides a central place for feedback and functional requests, such as replacing a lightbulb.

Data is Priority
How your users navigate your technology is important, but you need to do something with this data. The back end of these systems is crucial for facilities, human resources, and IT departments. It not only tells you how individuals are doing, but the company and space as a whole.

Because real estate and office sites are looked at as expense heavy, unavoidable resources, the data gathered from a Space-as-a-Service managed workplace platform allows you to get more from your investment—or determine what must change. The data users are providing gives you a picture of how frequently (or not) office areas are being used, and when. Whereas in the past, businesses may rent out (or let sit vacant) unused space—now they can transform it.

If the data shows that members of the marketing team prefer to work at communal tables or hold a lunchtime meeting every day, you can create more communal space to guarantee their daily satisfaction. Data might tell you about an overlooked design flaw, like putting a reading nook near the office’s entrance—leading to a distracting and, therefore under-utilized area. It also gives you a sense of how many of your employees like to work in a particular location (within the office or within a city). This will drive your future real estate decisions if you analyze the data.

The human resources team may see a pattern in employees that needs to be addressed or encouraged. Performance issues may arise based on where and how an employee is working; even the smallest details, like using a standing desk regularly, can help managers understand their teams better.

Evolution Never Ends
The modern workplace will never stagnate, nor do we suspect it’ll return to cubicles and corner offices. As much as individuals enjoy variety in their careers, moving between jobs faster than any other generation, they also enjoy variety in their work day. It is up to employers to make these options available for their teams—and learn from each user’s experience.

Jeff Revoy, CRO, SpaceIQ
Jeff Revoy is a senior executive with leadership achievements spanning all company operations. Beyond deep functional expertise, Jeff has strengths in establishing successful company strategies, building and resizing organizations, and motivating teams. He possesses significant international/global experience and has been actively involved in M&A as both target and acquirer. He recently co-founded his third company, SpaceIQ, which offers a powerful and intuitive workplace management platform for companies of every size.

This Week’s Sponsor

Angus Systems is a leading provider of customer driven mobile and cloud-based work order and operations management solutions for commercial real estate. Our software supports over 2 billion square feet across North America in buildings from 20,000 to portfolios of more than 100 million square feet. Visit www.angus-systems.com to learn how we help our clients shine.

Realcomm News


UPCOMING REALCOMM WEBINARS

REAL ESTATE INFORMATION ANALYTICS – Harnessing the Power of the Data - 2/7/2019

It started with spreadsheets and pivot tables, moved to databases, then to data warehouses, onto analytics and business intelligence. Now, analytics often refers to machine learning and artificial intelligence. In the end it is simply about collecting and maintaining accurate comprehensive data and applying some form of sophisticated analysis to gain insight and make better decisions. Combining internal and external data can provide organizations with a better understanding of individual assets, portfolios and markets. This webinar will gather the industries’ most experienced professionals who will discuss how data disruption and leveraging data will allow you to better position yourself for significant growth. Product options, data strategies, personnel requirements and more will be addressed.

headshot for Wayne Pryor
Wayne Pryor 2Five1 Consulting
Wayne Pryor Founder
headshot for Wayne Pryor
Wayne Pryor
Founder
2Five1 Consulting

headshot for Andrew Weakland
Andrew Weakland W.P. Carey
Andrew Weakland VP, Director of Systems Development Andrew Weakland is the Director of Systems Development for W. P. Carey, a net-lease REIT focused on providing long-term sale-leaseback and build-to-su
headshot for Andrew Weakland
Andrew Weakland
VP, Director of Systems Development
W.P. Carey

Andrew Weakland is the Director of Systems Development for W. P. Carey, a net-lease REIT focused on providing long-term sale-leaseback and build-to-suit solutions for companies in the U.S. and Northern and Western Europe. Andrew specializes in bringing emerging technologies into the real estate space to drive competitive advantage while maintaining the cohesiveness of the overall enterprise technology footprint.

headshot for Luis Ramos
Luis Ramos Woolbright Development
Luis Ramos Director, IT As the Director of Information Technology at Woolbright Development, Luis Ramos is responsible for the corporate technology strategy, which includes t
headshot for Luis Ramos
Luis Ramos
Director, IT
Woolbright Development

As the Director of Information Technology at Woolbright Development, Luis Ramos is responsible for the corporate technology strategy, which includes the IT infrastructure and enterprise application platforms. Additionally, he is also responsible for implementing technology solutions toward the company’s existing business processes, and helping create new efficiencies throughout the company's business model. Since his arrival in 2004, his team has been responsible for the constant development of various industry-focused proprietary software applications and tools. These award-winning technologies have fundamentally changed the way commercial real estate has been done at Woolbright.

headshot for Prabhu Ramachandran
Prabhu Ramachandran Facilio
Prabhu Ramachandran CEO and Founder Prabhu’s career spans over 18 years of product, business, and customer experience focused on enterprise-scale software for IoT-based connected service
headshot for Prabhu Ramachandran
Prabhu Ramachandran
CEO and Founder
Facilio

Prabhu’s career spans over 18 years of product, business, and customer experience focused on enterprise-scale software for IoT-based connected services, sustainable building solutions, and telecom network management. Prior to becoming an entrepreneur, he was the Director of the IoT division of Zoho Corporation. At Zoho, he was responsible for and directly oversaw strategy, innovation, product, marketing and revenue operations of end-to-end telecom and IoT building solutions.