The Impact of AI on Real Estate – Will You Let AI Take Your Job!?!?

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In a thought-provoking Webinar on AI’s impact and future roles, our speakers highlighted key aspects shaping the employment landscape:

Productivity Surge: The consensus emphasised AI’s role in boosting workplace productivity, inviting professionals to harness technology for efficiency gains.

Addressing Job Displacement Fears: Acknowledging concerns about job displacement, participants advocated an informed and proactive approach, urging individuals to understand and leverage AI technologies rather than fear them.

Upskilling Imperative: A resounding theme was the urgency of upskilling to align with the evolving demands of industries affected by automation. The focus was on acquiring skills that complement AI capabilities.

Human Skills Amplified: As AI assumes routine tasks, the discussion underscored the enduring value of uniquely human attributes such as emotional intelligence and interpersonal communication. These skills are considered pivotal in a technology-driven future.

Real-world Problem Solvers: The conversation concluded with a call to action, encouraging active engagement with AI to address global challenges. Industries like construction were specifically mentioned, highlighting AI as a tool for meaningful contributions.

This illuminating discussion provides a roadmap for individuals to navigate the evolving employment landscape, emphasising collaboration with AI, proactive upskilling, and leveraging uniquely human qualities to thrive in the workforce of the future.

 

Our Director, Alex Wiffen Wiffen, will lead the conversation alongside these industry experts:

🔹 Alain Waha ha, CTO at Buro Happold

🔹 Serge van Dam am, Director at Cogo

🔹 Gaby Weidlich dlich, CEO at FutureRatio

We hope you find the discussion engaging and insightful! If you would ever be interested in joining us as a panellist, please feel free to book a time into Alex’s diary to discuss – https://calendly.com/alex-wiffen/quick-chat

The Future of Facilities Management – Embracing Technological Disruption

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Welcome to our latest Facilities Management Insights! In this edition, we unravel the intricacies of real-time environment perception, shedding light on the often-overlooked aspects of indoor spaces. Join us as we explore technological advancements, sustainable practices, and the pivotal role facilities management plays in shaping a circular economy.

In this thought-provoking session, you’ll gain a deeper understanding of:

Real-Time Environment Perception: Explore the need for real-time data to truly comprehend indoor environments, debunking the illusion of ideal spaces and revealing concerns about external pollutants.

Technological Imperatives: Recognise the limitations of traditional methods, advocating for advanced technologies like enhanced air filtration to optimise indoor air quality.

Sustainable Practices: Challenge the inefficiency and environmental impact of stripping and rebuilding office interiors repeatedly, encouraging a shift towards sustainable alternatives.

Circular Economy Contribution: Delve into the role of facilities management in fostering a circular economy, identifying opportunities for waste reduction and resource efficiency.

Environmental Footprint Considerations: Examine the broader impact of transit decisions on the carbon footprint, emphasising the interconnectedness of facilities management with environmental sustainability.

Host : Alex Wiffen

Guest speakers:

Nevo Ben-Shitrit – VP sales & business development APAC & EMEA at Molekule

Bronny Wilson – Regional Head of Europe at Equiem

Katherine Rose – Managing Director at Vervlife

We hope you find the discussion engaging and insightful! If you would ever be interested in joining us as a panelist please feel free to book a time into Alex’s diary to discuss – https://calendly.com/alex-wiffen/quick-chat

International Women’s Day – As a female business owner and entrepreneur

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As we celebrate International Women’s Day, it’s important to acknowledge the challenges that women still face in the business world. Despite progress towards gender equality, only one in three entrepreneurs in the UK are female. Additionally, research shows that female-led businesses are, on average, around 25% smaller than those led by men.

However, it’s also important to recognise the potential for positive change. Research conducted by McKinsey & Co has found that companies with greater diversity in their executive teams are more likely to outperform their peers on profitability and create superior value. This highlights the importance of ensuring that women have equal opportunities and representation in leadership positions.

As a female business owner and entrepreneur, I know first-hand the dedication and challenging work required to sustain a business. I’m sharing some of the biggest lessons I’ve learnt (sometimes I’ve had to learn the hard way) that have really helped me. I hope they help any female business owners, entrepreneurs or those aspiring to be too.

• Believe in yourself: Work on your mindset and your confidence in your abilities and believe that you can achieve your dreams. Don’t let self-doubt hold you back.

• Seek out mentors: Find mentors who can offer guidance and support as you navigate the business world. Look for women who have experience in your industry and can offer advice and help you make connections.

• Build a strong network: Attend events, join groups and organisations, and connect with other women in your industry.

• Embrace failure: Failure is part of the journey to success. Don’t be afraid to take risks and learn from your mistakes.

• Prioritise self-care: Running a business can be stressful and demanding. It’s important to prioritise self-care to avoid burnout and maintain your physical and mental health.

• Advocate for yourself: Don’t be afraid to speak up for yourself and ask for what you deserve. Whether it’s negotiating a contract or asking for funding, advocating for yourself is essential to achieving your dreams and goals.

On this International Women’s Day, let us celebrate the achievements of women, but also continue to work towards a more equitable and inclusive future for all.

Lema Redjep | Founder / Head of Wellbeing / Internal Coach

 

People Strategy in a Downturn

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I think we all know that we are in a global recession, so, any strategy — including a people strategy — won’t have the budgets they did when the economy was growing. BUT, that doesn’t mean you have to ignore a people strategy; it requires creativity to develop and implement. Here are some of my ideas/advice to consider this year…

Defer Cash Incentives…
During a downturn, keeping your cash flow healthy is essential for businesses. That often means you’ll have to find a creative alternative to cash bonuses.
Offering shares in the company is one way to delay cash bonuses until the economy rebounds and can work depending on the company’s structure.
For smaller companies, there’s the option to barter with other small companies to replace cash incentives.
The cheapest incentive that could be considered would be to offer additional paid time off.

Consider Making Remote Work Global…
During recessions, you want to offer other incentives that could make up for not being able to offer top talent, industry-leading remuneration.
For most employees, irrespective of their role, working remote in this new way of working, is enough of a benefit that a cut in compensation may be tolerable. You can add to that benefit by enabling talent to work abroad, provided they’re in the same time zone or meet certain KPIs. In addition, expanding your talent search across the globe can often make compensation more attractive.

Know Your Cash Peaks and Troughs…
Many businesses have cash flow seasons (us included), even if they aren’t in seasonal industries! Understanding your cash flow trends can give HR the ability to build projects around the influx and prepare for the slumps.

Match People Goals to Business Goals…
Rather than have your HR goals and projects separate from your business goals, ensure they are both entwined and support the other.
If your goals are to reduce expenses, consider implementing a strategy that identifies and supports your top performers, as that’s often where you can draw the most value without additional expense.

The most important aspect of developing a people strategy during an economic downturn is to communicate financial constraints to your HR teams.
Instead of instructing HR on what to cut, allow the team to be creative and utilise their expertise to meet the targets that you set.
People are most firm’s biggest asset. Identifying the right people to get on the bus is obviously key, but not only keeping them on the bus but continuing to engage and get the best out of them is vital to drive success through and out the other side of this downturn.
If you want some advice or to explore any of the key points raised here, please do reach out and book a time to chat.

Quiet Quitting: What is it and How to Guard Against The Loss-Making Movement

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Every business wants a productive employee, as one high-performing employee can deliver 400 per cent more work than the average worker. Unfortunately, for many UK businesses, recent data suggests one-third of all employees are quiet quitting.

Quiet quitting, a type of employment activism that originated in China with the “Tang Ping” or “lying flat” movement, has gained popularity abroad. The movement’s growth is linked to social media like TikTok.

What is Quiet Quitting?

Quitting is associated with resigning and ceasing to show up for work at a predetermined date. Disengaging from work responsibilities in this way enables employers to find other talent to fill in the gap.

But quiet quitting is neither resigning nor going AWOL. Instead, quiet quitting is a movement that sees workers refuse to do more than the bare minimum required of their job.

In such a situation, employees are otherwise disengaged from their jobs and are comfortable completing roughly 10 per cent of the work their more engaged or higher-performing colleagues complete.

Rather than resign due to dissatisfaction, these workers understand the importance of job security and have resorted to simply showing up and doing the bare minimum to avoid repercussions.

The Effect of Quiet Quitting on Businesses

Dealing with an “average” performer is a standard part of business. But quiet quitters can drain a company’s financial well-being and is detrimental to the current economic climate.

Quiet quitters often lead a company to bloat their workforce, can impact top performers’ work and can infect the morale of a team with their negative disposition.

Identifying them is also far more complicated

Reengaging Quiet Quitters

All hope isn’t lost; you can reignite quiet quitters, preventing the drain on your bottom line. Many quiet quitters have engaged in the movement because of burnout, a lack of recognition, and poor workplace culture.

Most of this can be resolved by training managers and leaders to be more engaged, empathetic, and encouraging self-sufficiency.
In smaller businesses, managers and leaders should be encouraged to conduct well-being check-ups on their teams, staff should be allotted mental health days above their typical leave, and good work should be recognized and rewarded.

These changes ensure apathy doesn’t take root in the work environment. While they may seem cost-prohibitive, they can help your business avoid falling victim to the £143 billion lost each year to a lack of productivity.

New Year’s Resolutions don’t work. Try this instead

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A great way to do this is to either visualise the life you want to create for yourself in the coming year. Get really detailed about everything that matters to you—from your relationships to your health, career, lifestyle, and finances. Or, if you prefer, you can write it all out instead.

Once you have your vision, you can set specific goals in the areas of your life that are most important to you. Then ask yourself: What are the most important actions that I need to accomplish in each of these areas to make this vision real?

So, for example, if you have decided you want to save more money in 2023, think about why. What will those additional savings provide for you? Maybe it will give you security, which may be one of your values. Maybe it’s to travel to see family abroad more often —which helps support values like family and connection. Whatever your motivation is, it’s never just about the money itself.  The underlying priorities, like in this case, being able to feel more secure, or being able to spend more time with family can keep you motivated to take the steps you need—like reducing your spending, or taking on additional work for extra income—to be able to set more money aside.

  1. Create an action plan

One reason that resolutions often fail is because they’re too vague or aren’t accompanied by a specific timeline or an action plan to achieve them.

Use a SMART goal-setting approach that is: Specific, Measurable, Achievable, Relevant, and Time-bound.

So, for example, instead of just resolving to lose weight, set a specific and realistic weight loss goal over a certain period of time. Or break it down into smaller targets like pounds lost per month and then outline the actions you’ll take to reach them—whether it’s committing to exercising daily or making specific changes to your diet, or both.

Also, look at what’s already working and then build on that.  So, for example, if you’ve already started taking regular walks, increasing their duration or frequency is an easy way to burn more calories and help you reach a weight loss goal.

  1. Get yourself an accountability partner

Various studies show that having someone who will help hold you accountable can make a significant difference. So, ask a friend, or family member if you can share your weekly progress.

  1. Celebrate small wins

Finally, don’t forget to celebrate any small wins or victories.  The journey to accomplishing our goals is not always an easy one and it can be easy to focus on all the things that aren’t going well when we’re having an off day which can lead to feeling down and demotivated.

Celebrating small wins can help give you more energy, boost motivation, and may also give you more confidence and help with coping during tough times.

Hopefully, this has given you some motivation to look at new year’s resolutions and goal setting differently. I’d love to know whether you’ll be implementing any of these tips.

For additional support, feel free to get in contact to find out the many ways you can work with me.