Savills : How has corporate account management been affected by changing real estate portfolio strategies?

Real estate decisions have been moving up the agenda in terms of importance for corporateoccupiers for a number of years. Senior management have recognised that while property is a 'needed asset', it also typically represents one of the three biggest overheads and therefore ensuring a portfolio is managed in the right way is vital to its effective operation.

As a result, in recent years we have seen an inevitable shift in focus from corporate occupiers when making decisions concerning their real estate portfolios. The overall business strategy is now very much leading and at the heart of property decisions rather than the other way round.

This strategic alignment between business and property has accelerated further as a result of this year's pandemic, with corporate occupiers looking at cash preservation and investigating how their portfolio can be utilised most efficiently, both in the short and medium terms.

Many occupiers have an array of properties and property requirements, often spanning a range of sectors, and may outsource the roles of all or part of what might historically have been their in-house property team - this is where corporate account management comes in.

By offering a fully integrated service that works with an occupier's overarching business strategy, corporate account management provides a variety of solutions as to how they may approach their real estate in order to achieve the principal business objectives, be they on a local, national or global scale.

The key to successful outcomes is for both parties to operate as one with shared targets and goals and the appointed corporate account management team fully immersed and understanding of the occupier's business objectives.

Unsurprisingly, perhaps, with a more integrated role in the occupier's real estate decisions, the function of corporate account management has also had to adapt in line with the market and a client's requirements to become an extended part of a firm's internal team.

Occupiers are seeking trusted partners to work alongside them, to provide added value and subject matter expertise and to challenge the norm by raising questions around performance. Is the governance in place by which the operating standards are set? Are teams being trained accordingly? How is performance measuring against set standards and how are we implementing change as a result of shared development? And so on.

At Savills we have recognised the need for a dedicated continuous improvement manager to focus on performance, client feedback, innovation, standardisation, geographical alignment and processes.

As we and our clients consider how our people will work in the future, there will be an even greater drive from corporate occupiers to ensure that their property portfolio provides the necessary support for the new generation of processes and ways of working, and that the properties are operating effectively and contributing to talent retention, a sense of belonging and wellbeing.

With this in mind, getting the right advice during this process from a corporate account management team will be vital to the overall success.

Further information

Contact Anna Warlow

Contact Savills Worldwide Occupier Services