The Leader Magazine

DEC 2018

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Page 23 of 55

F E A T U R E A R T I C L E 24 December 2018 the lea D er by Lisa Stanley I n most organizations, the top three investments include human capital, real estate and technology. Corporate real estate (CRE) is where the intersection of these three assets converge, enabling organizations to accelerate performance and achieve better outcomes, or to lose competitive advantage that will not likely be recovered. The workplace and workforce are connected by the technology-driven data that binds them in a trifecta of synergistic possibilities. Meanwhile, CRE is moving into a more powerful position within organizations than ever before, including the long-sought-after seat at the corporate executive table. Leaders are faced with decision-making that must balance resource allocation for traditional business analytics and reporting systems that collide with the need to explore emerging technologies and predictive analytics. What's fueling this need for change? Data. Much of the impetus for change is driven by data and the accelerated pace of advancing technologies, including artificial intelligence, machine learning and blockchain. It's about the data culture and the digital ecosystem to support it that exists within each organization. It's about making investments in acquiring and building skills that didn't exist just a few years ago. It starts with the tone at the top of the organization. Change management cannot thrive without effective change leadership that is initiated in the corporate suite and conveys support for innovation at every level of the organization. "What's wrong with status quo?" Everything. "Let's wait and see what happens" provides a disincentive for creativity and innovation and invites your team members who are interested in moving forward in their careers to accelerate their exit strategy – maybe even to your competition. Innovation, by its nature, requires an increased tolerance for risk and increased financial support to fund it. It can be an unsettling time for CRE leaders who have been planning for the next phase of their lives after they leave the industry. The speed with which technology is advancing in other industries is staggering and signals a compelling need for the real estate industry to take steps to catch up. The new organizational culture is focused on the data – sometimes extraordinary amounts of data. It's not about how much data can be Does your change leadership embrace a digital ecosystem?

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