How can you use market analysis to support your workplace strategy?

1 Define your objectives

The first step is to define your objectives for your workplace strategy. What are you trying to achieve with your space planning, design, and management? How do they align with your business vision, mission, and values? How do they support your organizational culture, performance, and innovation? How do they respond to your stakeholders' needs and expectations? By clarifying your objectives, you can set the direction and scope for your market analysis.

3 Conduct your market analysis

The third step is to conduct your market analysis using the data you have gathered. You need to apply appropriate methods and tools to analyze the data and generate insights. You can use different types of analysis, such as SWOT, PESTEL, Porter's Five Forces, and Gap Analysis. You should also use visual aids, such as charts, graphs, maps, and dashboards, to present and communicate your findings. By conducting your market analysis, you can uncover the strengths, weaknesses, opportunities, and threats in your CRE markets.

4 Evaluate your alternatives

The fourth step is to evaluate your alternatives for your workplace strategy based on your market analysis. You need to compare and contrast different options for your space allocation, configuration, and utilization. You should consider the costs, benefits, risks, and impacts of each option on your business objectives, employee experience, and market position. You should also involve your stakeholders in the evaluation process and solicit their feedback and preferences. By evaluating your alternatives, you can make informed and rational decisions for your workplace strategy.

5 Implement your workplace strategy

The fifth step is to implement your workplace strategy according to your chosen alternative. You need to plan and execute the necessary actions to transform your space and align it with your market analysis. You should also monitor and measure the progress and outcomes of your implementation and report them to your stakeholders. You should also be flexible and adaptive to any changes or challenges that may arise in your CRE markets. By implementing your workplace strategy, you can achieve your objectives and deliver value to your business.

6 Review and update your market analysis

The final step is to review and update your market analysis periodically. You need to keep track of the changes and trends in your CRE markets and assess their implications for your workplace strategy. You should also collect and analyze new data and feedback to evaluate the performance and satisfaction of your space and employees. You should also identify and address any gaps or issues that may affect your workplace strategy. By reviewing and updating your market analysis, you can ensure the relevance and effectiveness of your workplace strategy.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?