Their responses show that amid continuing challenges in the economic and operating environment, there are more risks ahead. CRE teams have been tasked with a broader and more strategic agenda since our first report was released in 2011.
Five global trends have emerged, each with its associated risks. Post the global financial crisis (GFC), the elevation of CRE has created a new tipping point. CRE must keep pace with the increasing speed and demands of the broader business or risk a return to the undervalued positioning of the past.
This will require change in the mandate, structure, positioning and method of CRE.
However, we believe that with increased risk comes even greater reward. If the right decisions are taken, those who effectively manage the risks will be rewarded with the opportunity to drive productivity enhancements and corporate competitiveness.
We sincerely thank those of you who shared your thoughts and perspectives. Your input has provided a clear picture of the pressures facing CRE teams across the world. While the picture is clear, it is also complex as some geographies and industry sectors show high degrees of variation.
Accordingly, we will issue additional reports focusing on country and industry level results over the remainder of the year, as well as pieces that dive deeper into the specific themes and issues raised in this global report.
Executive Summary:
CRE teams face increasing pressure. When combined with a lack of investment or injections of new talent into these teams over recent years, this points to significant risks ahead. However, the many risks produced by the current business climate also present incredible opportunities for CRE teams. Those that proactively lead their organizations to a more productive workplace will be the winners.
CRE teams are now uniquely positioned to dramatically impact the culture, collaboration and performance of their companies. This position requires a fundamental rethink of the CRE contribution—one that will shape not only the future form and function of the CRE team, but also its opportunity to add strategic value and deliver competitive advantage.
Five global trends are shaping the future of CRE
- Expectations and pressures build, heightening the risk of underperformance
- Increased demand is leading to fasterpaced evolution of CRE outsourcing
- Workplace transformation is the key to unlocking worker productivity and optimizing portfolios
- CRE must become a collaborative change agent
- Failure to deliver in emerging markets will become one of CRE’s greatest reputational risks
To explore the trends in more detail, visit www.jll.com/globalCREtrends.