3 Key Strategies to Ensure Effective Policies - Grace Hill
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3 Key Strategies to Ensure Effective Policies

Posted on April 26, 2022

Paul Bergeron
compliance rules and law regulation policy concept businesswoman working modern computer on virtual screen, documents with checkbox lists.

Just because many commercial real estate companies are challenged to navigate these unstable times brought on by the pandemic, it doesn’t mean re-setting your company policies also has to be unsettling.

These policies matter at a time when the challenging job market has companies needing to hold on tight to their employees, and CRE owners and operators have to address their tenants’ evolving uses and space needs. You care about your tenant’s well-being and are determined to make sound decisions when creating, managing, and distributing effective policies. Plus, your company has to shore up its knowledge and expertise gaps today to continue to successfully navigate post-pandemic conditions—all in an effort to strengthen performance, improve compliance, and reduce risk. 

When it comes to implementing effective policies, this should not become an “I’ll get to it” matter for an overly-busy HR department. Companies that lack internal expertise to write and maintain policies and procedures, have limited access to industry-standard policies and/or who are unable to tailor policies to culture and company-specific processes should engage with a partner who can set them up for success.

With a deep bench of subject matter experts in commercial real estate, Grace Hill offers a robust PolicyPartner program that enables CRE property owners and operators to comply with industry and legal standards, set clear company expectations, ensure that employees are properly trained and updated, improve their properties’ GRESB scores, effectively pivot in response to unforeseen circumstances, and more. 

When developing and cascading your company’s policies, here are 3 key strategies that CRE owners and operators should incorporate.

1. Policies for Workers and Guests 

Companies are busy formalizing their remote/hybrid work schedules while also looking to fill critical job vacancies. At the same time, they must determine policies for workers and guests that maintain organizational culture and performance needs and also:

  • Comply with industry and legal standards
  • Set clear company expectations
  • Ensure that employees are properly trained and updated
  • Can effectively pivot in response to unforeseen circumstances

2. Steps to Improve Cleanliness & Safety Policies

Owners and operators that excel in satisfying tenants with building communications, preventive maintenance, security and cleaning are more likely to positively influence renewals and retain staff. Today, reconfiguring workspaces temporarily and increasing space per employee while even reducing occupancy is what many commercial real estate companies are facing. This starts with implementing clear and consistent safety measures that include:

  • Increased frequency of cleaning and disinfection in common areas
  • High efficiency particulate air filters (e.g. HEPA filters)
  • Touchless access control systems (doors, toilets, sinks)
  • Antimicrobial door knobs and hardware

3. Partner with a Company that has a Deep Knowledge of CRE 

When developing and implementing policies in CRE, it’s crucial to do so with a partner who has a broad and deep knowledge of the commercial industry. Grace Hill’s commercial policies were built by CRE subject matter experts and using PolicyPartner, owners and operators can effectively create, manage, and distribute up-to-date policies and procedures to strengthen performance, improve compliance, and reduce risk liability.

PolicyPartner delivers a scalable, time-saving technology in a cloud-based platform that is accessible and editable from any device and equips companies with powerful and easy-to-use tools that:

  • Comply with industry and legal standards
  • Set clear company expectations
  • Ensure that employees are properly trained and updated
  • Maintain organizational culture and performance needs
  • Improve their properties’ GRESB scores
  • Pivot effectively in response to unforeseen circumstances
  • Mitigate the risk and rising costs associated with outdated or a non-existent commercial policy management solution; 
  • Prevent increasing numbers of fines from compliance penalties and high legal costs associated with litigation; and 
  • Shrink the number of insurance claims resulting in rising insurance premiums and eliminates the high cost of managing policies and procedures manually.

As we continue to navigate through the post-pandemic year, and more companies and employees commit to return to offices, it will be even more important for commercial owners and operators to offer policies that set up your employees, tenants and portfolios for success.

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