The future @ work: delivering effective corporate real estate

Abstract

PurposeThe purpose of this paper is to establish a benchmark measure of attitudes to property held by major corporations within Australia. The paper aims to show how workplace use is predicted to change in the near future and the implications of that change for managers of those assets.Design/methodology/approachThe research in this paper is based on a survey of senior corporate property managers throughout Australia. Using Likert scale responses participants' attitudes to emerging asset management issues were examined.FindingsThe research reveals that there exists a divergence between corporate property managers' perceptions of the role of property to the organisation and the perceived role by business managers. The research also reveals that workplace use is expected to change in the near future with greater need for flexibility in design, contracts and employee behaviour.Research limitations/implicationsThe survey response was limited to a small number of senior property executives. Future iterations of the research can seek to establish a broader response from industry. The research establishes a baseline from which future changes in the management of corporate property can be measured.Practical implicationsThe paper is important in that it highlights the divide between efficient and effective asset management and the perceptions of asset and business managers. It also indicates the growing need for flexible workplace design supported by flexible property contracts.Originality/valueThe paper provides a basis for evaluating the use of property assets by large corporations within Australia. It will be of practical use to all practitioners and service providers involved in the delivery, design and management of property assets for large corporations.