The Leader Magazine

SEP-OCT 2015

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Corporate real estate (CRE) teams are being tasked with addressing an ever-growing list of C-suite expectations. JLL's "2015 Global Corporate Real Estate Trends" report reveals that the CRE profession has matured in recent years with greater focus on partnering and outsourcing, using data and analytics to generate clear insights and business relationship management. The report also shows that today's CRE teams are challenged to evolve from tactical managers to trusted advisors. The silver lining in this cloud of high expectations? New tools and services are emerging faster than ever before to help CRE leaders meet and beat the expectations of their C-suites. John Forrest, JLL's CEO of Corporate Solutions, Americas and Chair of the firm's Global Corporate Solutions Board, talks about what CRE executives can do to elevate the profession to the next level. – and that means using sophisticated data a nd a na ly t ics a nd supply cha in management skills. The most significant skills gap we see consistently is in the area of data, analytics and business intelligence. There simply aren't enough data-sav v y professionals who also have an understanding of CRE. Q The survey brings up a number of trends and demands on CRE teams. But what's keeping CRE executives up at night? What SHOULD they be worried about? I think "VUCA" is a term that best describes what is keeping CRE teams up at night: Volatile, Uncertain, Complex and Ambiguous, generally applies to business and economic factors. Globalization and the increased use of technology are at the heart of this accelerated change. Global geopolitics is another factor: there are huge political and economic fluctuations and businesses have to adapt. Additionally, increased regulation and compliance has hit the corporate world in recent years, especially in fields like finance, healthcare C R E DATA BY THE NUMBERS JLL's third biennial report on global corporate real estate trends reveals that corporate real estate (CRE) teams are undergoing significant structural change, and there is an immediate need to elevate the CRE function. The survey of 544 CRE executives reveals that: Say their Mandate to Globalize is Stronger or Much Stronger than Three Years Ago See Increasing Demand For Flexible Working Report Challenges to Support Cultural Change Within Their Organizations Expect Greater Centralization and Control in the CRE Function in the Next Three Years 62 % 59 % 61 % 73 % Source: JLL Global Corporate Real Estate Trends 2015 CRE Executive Survey Says: GREAT Expectations, Growth Opportunities Q G i v e n t h e l e v e l o f C - s u i t e expectations, what skills do CRE teams need to develop or recruit for the next generation of leaders? Increasingly, CRE teams need to be well- rounded business executives and leaders more than just real estate experts. We are seeing more and more CRE executives coming from outside the industry and from other corporate disciplines such as IT, HR, Procurement and Finance. These leaders are less focused on tactical real estate tasks and more focused on connecting real estate with overall business strategy and change management objectives. To succeed in the profession today, CR Es must have st rong relat ionsh ip ma nagement sk i l ls, excel as strategic planners and understand the broad trends driving change in the overall business operating environment. They need to be able to blend real estate strategy, vendor management, CRM and other disciplines CORPORATE REAL ESTATE 30 the LEADER | September/October 2015

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