President’s Message | BOMA 2021-22
Moving from Commodity to Value
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he Covid-19 pandemic has redefined how we view the concept of value. On a personal front, we have learned the value of community and how our interactions with people are a key component towards maintaining positive mental health. Our time spent throughout the various periods of lockdown has given us pause to be more appreciative of friends, family, home and health. The pandemic, in a way, has stopped us taking these things for granted and caused us to appreciate the intrinsic value of the elements impacting our life. On a corporate basis, the Commercial Real Estate Industry now needs to cater to a world in which the workforce is much more valueconscious than before. Value in this case does not mean the commoditizing of office space, but rather the complete opposite – how can the office be a nurturing force in people’s lives. Employees who recognize the quality elements in their life (family, comfort, health and safety) will no longer be willing to accept conditions that are inferior to the home. Employers who are competing for talent will look to the Landlord community to provide work environments that support their staff ’s sense of value. This paradigm shift, simply put, gives our industry a chance to shine like never before. Since its inception, the commercial real estate industry has been the static solution to the fluid world of business. Moving forward, we have permission to utilize every aspect of our collective intelligence to deliver an offering that caters to the well-being of people. The result is a fluid and flexible offering that is designed to keep pace with the ebbs and flows of the workforce.
6 BOMA Ottawa Commercial Space Directory 2021-22
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Innovations in Proptech will allow people to interact with their workplace like never before, allowing for comfort, convenience, choice and joy (yes, joy) to be workplace outcomes. Thank you to John Sicard of Kinaxis for coining this phrase and having the courage to create a workplace that fosters Joy. Visionary landlords are already re-tooling to improve the workplace experience by offering inviting common areas that offer places to congregate, recharge as well as contemplate. Our industry is moving from the “space business” to the “people business”, with real estate being the tool we use to deliver an experience that will rival that of home. This is the time when we move away from the notion of work being viewed as a grind to being a place that is inspiring. The sooner we can be transformative and inspirational, the sooner the work world can’t live without us. With this level of symbiosis we will de-risk our industry.
Shawn Hamilton, PRESIDENT, BOMA OTTAWA
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