Corporate Real Estate and Facilities Management

Believe It: Co-Working Space Startup WeWork Is Now Worth $5B | WIRED

WeWork, the New York City-based startup that rents out office space to entrepreneurs across the country, has just raised a $355 million round of funding, a deal that values the company at a whopping $5 billion

Source: www.wired.com

Co-working spaces are becoming more and more popular worldwide and it is not difficult to see why.  With the global workforce becoming increasingly mobile and flexible there are fewer limits on where and when work can be conducted.  Co-working spaces can serve as a home-base for employees that travel often, and can free workers in a home-office environment from distraction and isolation.

This particular article concludes with some questions about the future of co-working, pointing to the current favorable market conditions for entrepreneurs.  It may be worth noting that in the event of a downturn in the economy, co-working spaces still stand a chance to thrive.  In this scenario, an organization conducting a re-evaluation of their corporate real estate needs may recognize the cost effectiveness of allowing their employees to work remotely, specifically at a “third place,” like a co-working venue.  By our estimate, companies can save upwards of one million dollars a year simply by eliminating the space needed to house 100 dedicated workstations for employees.

It is important for an organization to establish policies based on best practices for employees utilizing co-working spaces.  For instance, a public setting may not be an ideal place to conduct business that involves sensitive information that could be seen or overheard by someone outside the company.  Training your workforce on how to best navigate the waters of maintaining privacy and staying in line with information security standards are a big part of ensuring success in a more public work environment, such as a co-working location.  If your organization would like to learn more about how to combat the risks involved with an increasingly mobile workforce, contact Stegmeier Consulting Group.

Stegmeier Consulting Group can assist with a wide range of challenges involved in implementing a workplace change initiative.  Contact us to find out how our services can help your organization.


https://stegmeierconsulting.com/contact/

Phone: 440-846-1410

Changing the way organizations manage workplace change

Corporate Real Estate and Facilities Management, Workplace Strategy

Why companies are doing away with assigned desks

It sounds like a gag straight out of a Dilbert cartoon. But for a growing number of companies, taking away assigned desks and turning employees into office nomads has its advantages.

At Citi, executives saw office work space going unused because employees were home sick, out on vacation or on flexible schedules. So the company filled an entire floor of a building in Long Island City with conference rooms, meeting areas and desks — but no assigned desks. In fact, there are only 150 spaces for 200 people, according to Harvard Business Review. Employees put their personal belongings in lockers and simply find a space where they want to work.

Source: www.cbsnews.com

The trend of companies seeking a more mobile and “agile” workforce continues to grow as this article documents.  Presently, most work environments are set up to maximize productivity.  What a redesigned and more team-focused environment does however is inspire collaboration and innovation.  The goal?  Maximize productivity AND innovation simultaneously.  At Stegmeier Consulting Group, we work with organizations in various fields and of all sizes to help with transitions to new office layouts and new ways of thinking about workplace efficiency.

Stegmeier Consulting Group can assist with a wide range of challenges involved in implementing a workplace change initiative.  Contact us to find out how our services can help your organization.


https://stegmeierconsulting.com/contact/

Phone: 440-846-1410

Changing the way organizations manage workplace change

Corporate Real Estate and Facilities Management, Workplace Strategy

5 Ways to Increase Your Workplace Innovation

How can you spur innovation? Recently, I attended an internal workshop on strategy and growth, and my workgroup was asked to tackle this very question. We quickly came to the conclusion that innovation and learning are closely aligned; that is, creating the condition for innovation requires creating a “learning culture,” or a culture in which new ideas and fresh thinking are welcome.

Source: www.kineo.com

At Stegmeier Consulting Group, we believe that innovation can come from anywhere at anytime within an organization.  Innovation should not just be a responsibility left up to the marketing department or the research and development teams.  This article brings to light 5 great suggestions on how to foster a more innovative culture.  Here at SCG, we’d like to propose a 6th suggestion: Consider a workplace redesign that allows for more collaboration and efficiency.  The changes can range from simply providing employees more space to hold small meetings, to considering a telework program that will allow employees more flexibility and more of the most precious resource of all: time. 

Stegmeier Consulting Group can assist with a wide range of challenges involved in implementing a workplace change initiative.  Contact us to find out how our services can help your organization.


https://stegmeierconsulting.com/contact/

Phone: 440-846-1410

Changing the way organizations manage workplace change

Corporate Real Estate and Facilities Management, Workplace Flexibility, Workplace Strategy

Winston-Salem’s Flywheel coworking space opens – Greensboro – Triad Business Journal

An event space housed in a basketball court, complimentary snacks and beverages, billiards and darts may seem more at home in a fraternity house than an office. But those amenities fit right in at coworking space Flywheel, which opened this week at the Wake Forest Innovation Quarter.

Flywheel is located in 11,585 square feet of the research park’s 525@vine building. Its flexible, collaborative working space offers a “casual and contemporary” environment for entrepreneurs, independent professionals and innovators to work “on the fly.”

Source: www.bizjournals.com

There is a common misconception that the demand for coworking space only lies in the largest cities (think NYC, LA, Chicago). We’re seeing that this is not the case.

Winston-Salem is a great example of a smaller city embracing new ways of working. The city population is a little over 236,000 and it already has two coworking office locations, including the one in this article. These working offices are both around 10,000 square feet and open 7 days a week.

Would you consider working in a coworking office? Why or why not? 

Stegmeier Consulting Group can assist with a wide range of challenges involved in implementing a workplace change initiative.  Contact us to find out how our services can help your organization.


https://stegmeierconsulting.com/contact/

Phone: 440-846-1410

Changing the way organizations manage workplace change

Corporate Real Estate and Facilities Management, Telework, Work Life Balance, Workplace Flexibility, Workplace Strategy

A Culture of Presenteeism is Damaging to Productivity

A ubiquitous culture of presenteeism is damaging productivity in UK offices, according to new research by fit out and refurbishment specialist Overbury. This is despite 77% of office workers having more flexible working options open to them than five years ago and expecting this trend to continue into 2014.


Four in five (80%) claim those who spend more hours in the office are thought by bosses to be working harder, while two thirds (66%) say being seen to work late increases an employee’s chance of promotion. More than two thirds (67%) of those who sometimes work from home admit to sending emails early in the morning to stop colleagues thinking they’re having a lie-in.

Source: www.hrreview.co.uk

Companies are willing to invest millions building collaborative work settings. However, many of those same companies forget to focus on establishing and consistently supporting an appropriate workplace culture that leverages collaborative settings. Presenteeism is one of the culture “roadblocks” that can keep that investment from paying off.

From the article: “More businesses need to realise that great ideas don’t arise from sitting at the same desk all day. Instead we must enable people to work in different environments depending on what they’re doing at any one time to push productivity through the roof.”


Stegmeier Consulting Group can assist with a wide range of challenges involved in implementing a workplace change initiative.  Contact us to find out how our services can help your organization.


https://stegmeierconsulting.com/contact/

Phone: 440-846-1410

Changing the way organizations manage workplace change


Corporate Real Estate and Facilities Management, Workplace Strategy

Why Brooklyn Is The New Mecca For Fledgling Tech Startups

Although every city is mired by challenges and no neighborhood truly represents an urban planner’s paradise, Brooklyn’s live-work lifestyle comes quite close. While recent pieces have chronicled the detrimental effects of large tech firms on cities, a new perspective is warranted.

Perhaps the grass is greener on the East Coast, but here in Brooklyn and throughout New York City, tech companies have been helping neighborhoods flourish because they are choosing to work in collaborative, creative environments.

Source: www.businessinsider.com

The trend of startups using shared space and coworking locations can teach established corporations something about attracting and retaining Gen Y, which populates the tech sector.

The youngest generation in the workplace wants to work in a collaborative setting or close to where they live (generally gentrified, urban settings).  Either provide a modern workplace or operate downtown. 

Another possibility, which we’ve seen organizations whose HQ is not in a ‘hot market’ embrace, is the adoption of telework.  By allowing employees to work remotely (and live where they want, not just where you are), they’ve found they can finally start recruiting the workforce of the future.

Stegmeier Consulting Group can assist with a wide range of challenges involved in implementing a workplace change initiative.  Contact us to find out how our services can help your organization.


https://stegmeierconsulting.com/contact/

Phone: 440-846-1410

Changing the way organizations manage workplace change

Corporate Real Estate and Facilities Management

New Habitat for Humanity HQ convenient to transit

The first “headquarters” for Twin Cities Habitat for Humanity, if you could even call it that, was a spare church basement

Source: www.startribune.com

In selecting a new HQ location that is well-served by public transport, an organization can more easily secure the top talent they seek; especially those Millennials they hope to employ for years to come, considering the younger generation’s draw to large urban centers.

Corporate Real Estate and Facilities Management

Prince Tennis Moves Corporate Headquarters From New Jersey To Atlanta

Prince Tennis is back from bankruptcy and shifting its corporate headquarters from Bordentown, New Jersey to the Buckhead area of Atlanta, Georgia.  The parent company, Prince Global Sports, is concurrently relocating its product research, development and player servicing activities to IMG Academy in Bradenton, Florida, alongside the recently opened Prince Innovation […]

Source: www.forbes.com

Forbes recently rated Georgia #10 on the list of “Best States for Business and Careers”. New Jersey landed at #32. Large headquarter moves will likely become easier to make due to changes in the business environment over the last five years. Considering ever-changing regulatory environments and the mobile nature of today’s workforce, what’s to stop more companies from setting up shop elsewhere?

Stegmeier Consulting Group can assist with a wide range of challenges involved in implementing a workplace change initiative.  Contact us to find out how our services can help your organization.


https://stegmeierconsulting.com/contact/

Phone: 440-846-1410

Changing the way organizations manage workplace change

Corporate Real Estate and Facilities Management

Auburn Hills unlikely HQ for Fiat/Chrysler

Now that Italy’s Fiat SpA has agreed to pay $4.35 billion for Chrysler Group LLC stock held by the UAW Retiree Medical Benefits Trust, can a combined Fiat/Chrysler with a headquarters in Auburn Hills be far behind?

Source: www.crainsdetroit.com

Large organizations, especially those going through a combination, are often faced with unique corporate real estate challenges. In trying to manage a distributed workforce, or in trying to shrink an ineffectually large footprint, corporate real estate managers are tasked with providing a work environment where employees can thrive.

Most organizations do a good job in providing/refining the space, but often overlook how the changes to the physical environment will impact their workforce.  Have you given thought to how a workplace change will affect your employees?  How prepared are your managers for leading in new ways?  How will you communicate these changes to the various layers of your organization?

Stegmeier Consulting Group can assist with a wide range of challenges involved in implementing a workplace change initiative.  Contact us to find out how our services can help your organization.


https://stegmeierconsulting.com/contact/

Phone: 440-846-1410

Changing the way organizations manage workplace change