JLL’s third biennial Global Corporate Real Estate Trends report shows that CRE teams are even more challenged to transform their role from order takers to order makers today than in the firm’s last survey in 2013. More than half of respondents report even greater C-suite expectations in nearly every category.
A concerning 15% say that they are poorly equipped to meet the increased demands – a proportion that has doubled since 2013. Meanwhile, the percentage of those who say they are “well-equipped” has fallen from 28% to 17%. Lack of access to data and analytics was the top-rated constraint limiting further development of the CRE function.
According to Lottefier, the most effective means to transform the CRE function in a business is to prioritise people and people skills. This combined with a strong data and analytics platform will facilitate smarter corporate real estate decisions.
“The key to achieving the right CRE balance across the world is a business-aligned approach that prioritises data science, proactive leadership and predictive analytics,” said Lottefier. “Without this shift, CRE teams will continue with ‘business as usual’ instead of breaking through to the next level.”