{"id":1004215770,"date":"2018-04-02T03:37:31","date_gmt":"2018-04-02T11:37:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004215770"},"modified":"2022-12-07T17:00:40","modified_gmt":"2022-12-08T01:00:40","slug":"leadership-in-a-new-era","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/leadership-in-a-new-era\/","title":{"rendered":"Leadership in a New Era"},"content":{"rendered":"

By Suzann D. Silverman<\/p>\n

\"Editorial<\/a>

Editorial Director Suzann D. Silverman<\/p><\/div>\n

We talk a lot about Millennials. And for good reason. The sizeable Millennial cohort, with its strong preferences and opinions, has had quite an influence on the way we work, live and play. A very positive influence, for the most part: Striving to attract and retain them\u2014and balance their preferences against those of the other giant demographic group, the Baby Boomers\u2014has instilled creativity, flexibility and sustainability into commercial properties and the operations and lifestyles that take place within their walls.<\/p>\n

SEE MORE ON THIS TOPIC<\/a><\/p>\n

While the real estate industry spends a lot of time focusing on the needs of tenants, though, it\u2019s equally important to consider your own organization. And that goes beyond the need for collaborative space, flexible layouts and break-time amenities. In this increasingly talent-constrained environment, it\u2019s necessary to ensure your corporate culture is one that will attract Millennials\u2014as well as other talent\u2014and inspire them to help your company thrive.<\/p>\n

As with office configurations, Millennials are driving a need for change in corporate culture and leadership\u2014defined by their desire for flexibility, attraction to companies that support social issues, and as they grow older, need for stability, loyalty and trustworthiness, according to Deloitte\u2019s most recent survey of the demographic group.<\/p>\n

Such change is taking place, though somewhat slowly. Take female representation in the senior ranks. It numbers one in four globally, according to CREW Network research, but the number of companies with no senior-level female representation rose 1 percent last year. Some companies, though, are taking steps to produce what National Multifamily Housing Council General Counsel Betsy Feigin Befus terms<\/a> \u201ca more inclusive environment where all team members can fully contribute.\u201d One is SVN International Corp., whose president restructured his executive team four years ago to increase gender diversity.<\/p>\n

That isn\u2019t the only management change SVN has undertaken. The company has taken big steps to focus on team members\u2019 growth and development in an approach Managing Director Michael Thanasouras described as a shift \u201cfrom reactive to proactive<\/a>.\u201d<\/p>\n

Recognition of cultural diversity is likewise important for real estate companies, especially as more expand globally. One company addressing this is The Related Group, according to Executive Vice President Carlos Rosso. As the company grows, he has also altered his strategy to delegate to other executives more of the tasks he previously oversaw himself.<\/p>\n

But much greater change will be necessary to compete in an increasingly digital world, according to Deloitte\u2019s Steven Bandolik and Rob Dicks<\/a>, authors of our CFO Corner column \u201cThe Human Balance Sheet: What CRE Executives Need to Know.\u201d Such \u201cout-of-the-box thinking\u201d\u2014a necessity being considered by too few companies, they maintain\u2014could include such possibilities as innovative new teaming and compensation structures.<\/p>\n

Change starts at the top, and leaders willing to rethink their company management will be most successful in attracting and retaining talent to compete in the new world order.<\/p>\n

You\u2019ll find more on this topic in the\u00a0April\u00a02018<\/a> issue\u00a0of CPE.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

We talk a lot about Millennials. And for good reason. The sizeable Millennial cohort, with its strong preferences and opinions, has had quite an influence on the way we work, live and play. <\/p>\n","protected":false},"author":755,"featured_media":1004199654,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1521,21788],"tags":[],"class_list":["post-1004215770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital","category-editors-notes"],"acf":[],"yoast_head":"\nLeadership in a New Era - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/leadership-in-a-new-era\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leadership in a New Era\" \/>\n<meta property=\"og:description\" content=\"We talk a lot about Millennials. 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