As we prepare to usher in the new year, we asked a few of our commercial real estate experts to share their predictions. We gathered insights on the future of hybrid work, employee engagement and supply chain challenges affecting commercial real estate initiatives.
Although our experts discussed different areas of commercial real estate, we noticed one key theme stood out: teamwork. We believe collaboration and support will be the number one theme of 2023. Whether we’re addressing supply chain disruptions or designing a hybrid work program, teamwork will make sure everything works out as planned. Read on to see what our experts expect from 2023.
Hybrid Work and Office Technology
Empathetic and creative environments will be essential to the success of hybrid work programs.
In the past year, we’ve worked with many notable clients to develop customized hybrid work programs. Although every company requires a unique approach, we’ve discovered a couple key attributes that always prevail. Managers in the most successful hybrid work environments are both authentic and creative.
Rather than establishing strict, universal guidelines (mandating all employees work in-office two to three days a week, for example) companies should take a purposeful, results-driven approach. Most employees believe in the value of in-person work. However, they don’t always have the resources necessary to reach their full potential.
Empathetic, creative managers have a number of advantages. In a hybrid work environment, engagement is even more important. Employees should feel connected to their team no matter where they are. When leaders start with empathy, they better understand their team, and employees are more likely to trust them. This lays the foundation for better employee engagement, teamwork, and innovation.
Mathew Xavier,
Director of Innovation and Change
More job seekers will factor hybrid work environments into their employment decisions.
The opportunity to work remotely or as part of a hybrid team is fast becoming a differentiator for job seekers. In 2023, expect to see more people searching for the best hybrid work programs. Although more companies allow for hybrid work than ever before, many have yet to optimize their work strategy.
As team members discover what works and what doesn’t, companies can expect job seekers to scrutinize their strategy. It’s not enough to simply allow people to work from home. Companies must also provide employees with the tools they need to do their best work.
Companies who don’t set their team up for success can expect to see that reflected in their Indeed and Glassdoor reviews.
Offices designed with diversity at the forefront will take center stage.
Every team member enters your office with different strengths and weaknesses. As leaders, it’s our job to create an environment where they can do their best work. Whether your team needs quiet spaces or adjustable furniture (hint: they most likely need both!), each team member benefits from unique resources. As office design evolves to accommodate neurodiversity and different levels of ability, your team will be better equipped to achieve business goals.
Lessons learned from past artificial intelligence (AI) challenges will inform the future of this technology.
If you’re an avid social media user, you’ve probably noticed an influx of AI-generated content. From AI- generated portraits to novels written entirely using AI, there is a lot of potential. However, just as fast as we’ve seen AI-generated content take over our social media feeds, we’ve also witnessed a number of bumps in the road.
As developers improve AI technology, we’re uncovering a potential use case with lots of promise for the future. Rather than using AI to generate entire pieces of content or works of art, its true potential lies in its ability to reduce the burden of low-though, high-volume tasks on workers. That way, they can devote more of their time to tasks that AI isn’t as proficient at as humans – creating and innovating.
Company Culture
To attract and retain top talent, companies must build a network of support.
Employee recruitment and retention remains a top challenge as employers enter 2023. Many companies have updated their compensation and benefits plans and introduced flexible work opportunities to better appeal to workers. At KGO, we’ve found that the most effective way to improve employee engagement is through support.
At every turn, employees should have team members they can turn to for mentoring and training. Our team is organized so that every employee has the support of two department directors. One provides technical support and training, while the other provides professional development. As a result, employees strengthen their array of skills in every area from conflict resolution to public speaking and presenting.
This dual management approach requires more time and effort from managers, and the results speak for themselves. Employees display a higher level of engagement and passion for their job and the company. Most importantly, they feel connected to their team. We’ve created an environment where people are motivated to contribute to the organization’s success.
Reed Stvan, Vice President
Project Management Amidst Supply Chain Challenges
Jeff Frengel,
Director of Project Management
Project management practices will evolve to mitigate supply chain challenges.
Fabrication and delivery of construction materials and components requires substantial investment in infrastructure that cannot be easily or quickly changed. Therefore, supply chain disruptions are likely to follow us into the new year. That’s why our project managers are adapting their practices to minimize disruptions.
To keep projects moving forward amidst a complicated supply chain, more project managers will opt for alternative materials where available. Additionally, suppliers and manufacturers are likely to play a larger role in the early stages of project design and planning. Incorporating them into the process will allow for enhanced planning and risk management.
Achieve your 2023 goals with KGO
What do you hope to accomplish in 2023? From designing a custom hybrid work program to managing the construction of a new office building, our commercial real estate experts collaborate with you to bring your vision to life. Let’s get started.