The ten year boom just went bust! The sound of that full-blown balloon you just let fly is the sound of the world economies losing air and falling to earth. So many companies have been operating at full capacity for years, always looking to hire in order to meet the demands of the market. Whether a coffee shop, sporting goods store, tech giant, startup or an established traditional business model, companies have been in a constant “Now Hiring” phase since 2012, if not earlier. A traditional leadership model would have a company replace the bottom ten percent of their employee’s annually in an effort to cut the fat and hire anew to improve overall caliber of the organization. This practice was mostly thrown out the window during the ten year growth we’re coming out of because those same companies just needed bodies to maintain current business, much less grow.

Now What?
Business owners and leaders will lock themselves in the board room to evaluate, recalibrate, and shift gears in order to remain relevant in the Post-COVID Economy. Business plans that were developed as recently as six months ago are likely obsolete. The new business strategy will prioritize future crisis management; revisit core values; remain relevant and competitive during economic recovery; evaluate and reset employment contracts; align with key vendors and alliance partners; develop and initiate the new marketing plan; identify pricing strategy and establish priorities around customer retention.

Guerilla Marketing Tactics
The time is now to evaluate your brand, be it personal, or business, or both. Many will have to look at their product or service to determine its relevance going forward. For those that need to pivot, start immediately! For those who are able to maintain the course, start immediately! Be certain your message is clear and that it’s reflected in your branding. Take your message to the market through social media, relevant print/online media, and through your sales and business development channels now!

Customer Service Rises Again
Rising from the depths of the pending recession will require a philosophy of exceptional customer service. This goes beyond the traditional sense in that the customer is defined in many ways. Not only is it the buyer of your products or services, but, it is the operations team working for the operations manager (and vice versa). It’s the inside sales rep doing her best to maximize sales for her employer; her employer is her customer as well. In a typical sales organization, the sales team is the customer to the sales manager. And, employees will be as much the customer to the organization as management is the customer to the rank and file. There’s no excuse for bad customer service; customers will be more valuable than ever on the other side of this.

Crucified by Complacency
There’s no excuse not to be better. One thing we all have a bit more of right now, is uninterrupted time. Focus on personal development; come out of this crisis stronger and more prepared. Revisit your personal goals, core values and principals and don’t be afraid to reset some or all based on current and past experiences. Companies will have to be better and find areas for improvement in order to remain relevant and solvent during the recovery. Complacency has been tolerated of late, only because organizations have been operating too lean for the most part. No longer will bad, or average service be acceptable, whether through the barista or from the customer service representative from the local hardware store. Complacency left unchecked will lead to personal and business demise.

Focused Balance
It’s hard for me to believe that our personal values and priorities will remain the same after experiencing this crisis. Our health and longevity revolve around work/life balance such that we remain physically and mentally healthy, which includes personal and family fulfilment. It means optimizing your calendar for the best use of your time during your “business hours”. However, regardless of your craft, you will have to hone your skills; maximize your effectiveness; know your product, service, and customer better than anyone; and, just be better overall than the other options out there.

Easter – Although the origin of the word ‘Easter’ isn’t certain, an 8th century monk suggested the word came from Eeostre or Eastre, a Tuetonic goddess of Spring and fertility. Another possibility is the Norse eostur, eastur, or ostara, which meant “the season of the growing sun” or “the season of new birth.” In this case, easter would be linked to the changing of the season.

A more recent and complex explanation comes from the Christian background of Easter rather than the pagan. The early Latin name for the week of Easter translates to “white week,” while the Sunday after Easter day was named for the white robes of those who had been newly baptized. People speaking Old High German made a mistake in their translation and used a plural word for dawn instead of a plural for white. From the Latin word “ostarun” we get the German Ostern and the English Easter translation.

Regardless of its true origin, your interpretation, or your faith, I think you’ll agree that we are all pulling for a season of new birth and for the resurrection of a vibrant life without the Corona Virus. The world changed with the arrival of COVID-19. We as a society have an opportunity to unite and rise stronger and with greater worldwide love for humanity. As you and your company are retooling for the future, please do so around core values that resonate within and throughout the world.

We wish you a Happy Easter and a successful changing of the “season”.

One humble guy’s vision of the corporate professional and workplace environment in the dawn of this new decade – the Soaring Twenties!

The Leasing Broker, Circa 1989:
My Palm Pilot reminds me I have a meeting to attend out of the office. I’ll need to refer to the Thomas Guide and photocopy the directions to their office. I certainly don’t want to stop at a pay phone and ask for directions on the way. Positioned on the cutting edge, I was the young guy with a PC on my desk – a Dell 286 as I recall – with a monitor that covered a third of the desktop. The older guys in the office weren’t going to get bogged down with a computer… “How’s that going to help you lease office space?” they’d scream from their corner office. Foregoing the Rolodex, I had full, automated access to my personal contact database in an early CRM called ACT!, which required navigation via DOS, before Microsoft Windows came along.

I’m proud to say that the foundation of my professional network was built in those early days when only one program could run at a time on the PC. Many of those contacts remain influential in business today, and some have become life-long friends. It was clear to me then that technology was going to help me apply traditional business practices with increased efficiencies and carry me toward a career of success.

A Hand-Built Network
The first few cold calls were horrendous, certainly for me, and probably more-so for the person I was calling upon. Nonetheless, as I returned to the office to transpose my handwritten notes into ACT!, I saw the value of each contact, the information gathered, and the foundation of a network that was slowly building. This database was built over years of prospecting and the contacts were personal – my property! I’d soon find out that companies saw value in my network, and consequently, in me due to the relationships that I’d cultivated. I’ve always controlled my database and it’s followed me throughout my career. It’ll provide value to me well beyond my professional career.

The Return of Personal Connection
Looking forward into the decade of the twenties, we’ll see how an acceleration of technology will change the way we gather and manage information, the way we work and the environment in which we operate. As we adapt to increasing stimulation from all sorts of media at our disposal, combined with our professional responsibilities in the palm of our hands 24/7 threatening personal connection, business relationships and repeat business transactions is imminent. The importance of building and maintaining the professional network may even be more critical today, as job and career changes will be more frequent. And, I’m not talking about how many connections you have on LinkedIn.

With the exponential changes in technology, certain companies and people will become obsolete in their current form, making them of little value. Having the vision to evolve and willingness to adapt will be critical for personal and corporate survival. Your network will be an invaluable asset to call upon for direction, introductions, consultation, insight, education or condolences.

Cartoon by Jeff Stahler

The Workplace of the Future
It will not be the open office experiment of today, nor will it revert to the spacious private office of yesteryear. By the mid-20’s, we’ll see the sprawling campuses and multiple floors of high-density corporate occupancy… make way for the Corporate Hub!

With an eye on sustainability, wellness, employee stimulation and retention, increased production and decreasing occupancy costs, major corporations will design their space for essential daily occupancy and non-essential virtual occupancy. What’s this look like?

The hub will be situated in urban centers or near major universities with easy access to public transportation. Its core elements will be strategically designed and placed within the hub for maximum workplace efficiency. The hub will be appointed with the following:

• Virtual Presence Theaters replacing the conference room of today, equipped with smart walls and virtual A/V for remote participation and interaction.
• All Hands Arena will be a piazza-type gathering area for all-hands meetings and social engagements. Virtual presence will allow remote attendees to be “in the room” with access to 360 views and full audio/visual interaction. As soon as a remote attendee raises a hand or begins to speak, their image is projected for immediate interaction.
• Department Neighborhoods will be designed within the hub and will include a mix of open collaboration area and an abundance of privacy rooms for uninterrupted work sessions. Standing collaboration counters, acoustically enhanced furniture pods, soft furniture and high-tech workstations are placed throughout the neighborhood.
• Lactation Rooms will be convenient and plentiful with all necessary equipment, storage, etc., provided as a service… Lactation Room as a Service, if you will.
• Wellness Wings will be designed to include everything from oxygen enhanced exercise/shower areas to massage, physical and mental therapists, a nutrition center, and peaceful/napping or recharging pods.
• Essential Occupants will have designated workspace within the Department Pods and easy access to privacy.
• Non-essential Occupants may come and go as necessary and are provided with hot desks or private rooms on a reservation basis.
• Indoor Air, Lighting and Power will all be wireless with every device controllable from the command center. This will maximize comfort and production and will decrease consumption and operating costs. Fresh air and oxygen enhancement will be programmable and prevalent where necessary.
• Accessibility for the physically impaired will far exceed the minimum federal requirements by employing robotics in combination with automated vertical and horizontal pedestrian transportation, making the hub a place of comfort for those who might otherwise be challenged with daily mobility.

In Conclusion
Increasing housing costs and commute times will lead to increasing virtual occupancy. Technology will continue to enhance the workplace for greater proficiency, accountability and interaction.

ProPath Advisors is currently searching for qualified and motivated talent for exciting new career opportunities throughout our esteemed industry. Don’t miss out on the Soaring Twenties! Visit our Careers Site now!

Smart buildings are the future. Devices that monitor and control building operations are becoming more common, while the cost of emergent technologies declines. Watch for new tech trends to shape commercial real estate in the coming years, making it necessary for older facilities to upgrade or become irrelevant. Here’s a look at what’s possible.  

The Internet of Things
The Internet of Things (IoT) includes everything connected to the Internet, sharing and gathering data. It adds a layer of digital intelligence to the world around us. A light bulb is just a bit of glass and wires, but when it can be switched on with an app, it becomes an IoT device. Many physical objects can be linked into the IoT, some of them surprising or unexpected, like a child’s toy, or a human heart. The applications are only limited by our ability to imagine.

The Impact of IoT on Commercial Real Estate
The price of industrial sensors has significantly decreased in the last decade, making smart buildings easier to customize. From security management to air quality control, and human-centric lighting, smart buildings are connected. They’re designed to collect data that can be analyzed to improve the occupant experience for employees and tenants. IoT tech can also give startups a competitive advantage, without burdensome investments to infrastructure.

It’s possible to streamline systems, like HVAC, or car park booking, through an integrated platform. These smart building modifications improve efficiency and cut costs. For example, sensors that track room occupancy can automatically switch lights on or off and control volume of conditioned air.

Sustainability and wellness are other benefits of smart buildings. The company Pavegen creates intelligent city and retail technologies. Their flooring system interacts with shoppers and can generate off-grid electricity. The technology translates to greater efficiencies and lower operating costs. In an ideal world, that lower operating cost is a savings to the tenants of the commercial facility. When lighting, air quality control and sound masking can all be controlled via smart technology and artificial intelligence, the workplace environment becomes a better place to work, one of the factors of being considered a well-building. 

The Smart Building Revolution
The CRE market is expected to continue its steady growth in 2020, as new workforce trends and tech globalization alter the landscape. We’re becoming more connected at work and at home. Commercial real estate professionals are likely to see more demand for built-in IoT technologies, which will require building owners and investors to build or renovate to the new demands and to consider the use of space in exciting new ways. The decade of the ‘20’s has the potential to be revolutionary for commercial property innovation, utilization and sustainability.