The Intersection of Human Capital and Real Property

VISTA recently hired two new real property analysts, which got me thinking about the profound changes taking place in the world of federal real property – and the many additional changes to come as workplace demographics begin to be affected by the “graying” of the current Federal workforce.

Both Lesley Frome and Jessie Johnson here at VISTA have extensive experience in the financial world. For VISTA, this hiring trend reflects the changing perspective the federal government has of real property – a move away from being a “bill to pay” to one that must be considered a tangible asset like any other under an agency’s control.

It would be unreasonable to expect employees with one particular skill set to adapt to facilities and work processes established for employees with other skills. Particularly in private industry, employers are beginning to realize that their employees’ amenities and surroundings can have a direct effect on their productivity. In industries where certain skills are in high demand, the work environment may make the difference between a valuable candidate accepting a job with you or your competition.

Tom Wimer, President and CEO of Knowledgebank, Inc., raises s related issue in this edition of Managing Change. In his “Executive to Executive” Interview, Wimer points out that the current Federal workforce will begin to change over in the next five to seven years. The younger generation of prospective Federal employees has come to expect a different type of work environment than was established for the Boomer and earlier generations.

That means that real property professionals and human capital experts in the Federal government should begin to work more closely together, if they have not done so yet. The domain expertise each brings to the table can help both. Human capital experts can help real property professionals get a better handle on what will attract the next crop of prospective employees – and what existing facilities or amenities are no longer necessary.

Conversely, real property professionals who are sensitive to right-sizing their inventory will be able to establish the type of workplace environment that can maximize the efficiency and productivity of every Federal employee. That can, in turn, be a benefit that human capital experts can use in hiring the best and brightest new talent.

Maybe now’s the time to start. With several Federal agencies recently downgraded in the real property initiative of the President’s Management Agenda (PMA) – five in one quarter alone – it’s clear that the status quo simply will not continue to work.

It would be easy to slide into despair with the bleak report of the recent PMA scorecard. Instead, I challenge all of us in the industry to take this as a budding opportunity. We have a chance to take advantage of the next few years to completely re-think our views of real property asset management. We can and should seek the counsel not only of our peers but our counterparts in other disciplines.

Together we can find waste, cut costs, and improve workplace efficiency. We can create a government real property portfolio that works – and one in which people can work at the top of their game.


David Baxa
President and CEO
VISTA