What HR Can Learn from HGTV and the NCAA
HGTV is a Multi-Billion Dollar Empire Built on One Simple Idea
Since the network launched in 1994, HGTV has grown into a key pillar of an international media empire worth billions of dollars. From House Hunters to America’s Most Desperate Kitchens, it’s all built on people’s common experience of feeling that “this space doesn’t work for me.”
Today, HGTV’s distribution covers more than 99 million U.S. households—and millions more in almost 70 nations worldwide. HGTV began broadcasting in New Zealand in 2016, building on previous international expansion in Canada, Europe, Australia, and Asia. After a year on the air, HGTV was the top lifestyle in Singapore.
Since a controlling family trust dissolved in 2012, analysts have speculated that HGTV’s parent company, Scripps Networks Interactive, could become an acquisition target for a larger media company like Comcast or Disney. As a result, analysts told Bloomberg News shares of the company—which has a market capitalization of more than $8 billion—could be worth a “steep premium” of up to 30%.
How has this company—spun off in 2008 from a newspaper publishing business founded in the 1800s—become a leading global brand synonymous with lifestyle content?
Pursuing Engagement Across Global and Digital Boundaries
Amid what Gallup describes as a worldwide employee engagement crisis, there’s a lesson to be learned from HGTV’s example. On the company’s First Quarter 2017 Earnings Call, Scripps CEO Ken Lowe said the company had grown from a simple cable network into a “comprehensive lifestyle content business that relentlessly pursues deeper engagement with consumers everywhere, regardless of device or geography.”
Sure, it’s a lot easier to get people to watch the new season of “Property Brothers” or a pilot starring Sir Mix-a-Lot than it is to energize disengaged employees at work. But the idea of relentlessly pursuing engagement across digital and global borders is very relevant to companies worldwide. Equally importantly, many companies understand the experience of feeling that their space is not working.
Having a great workspace is critical to the Millennials who make up a majority of today’s workers. Companies can take steps such as offering flexible work hours and full-service resource scheduling software to make their offices more appealing to talented employees, but the design of the space itself is a key factor.
Lately, many employers have shifted their definition of premium space by trading top-floor offices for mixed-use developments in trendy urban neighborhoods. Or, in the case of tech giants like Apple and Google, employees are being consolidated into massive campuses containing all of the amenities needed in day-to-day life. In both of these trends, we see companies embracing the trend toward work-life “integration” replacing the concept of “balance.” Many brands are taking action to align their value propositions with relevant employee and customer expectations.
How the NCAA and NFL Are Driving Innovation and Inspiration in Commercial Real Estate
Earlier this year, the 2019 NCAA Final Four Minneapolis Local Organizing Committee opened a basketball-themed office to capture the “energy and spirit that the NCAA depicts”—complete with authentic basketball court flooring. At an event unveiling the space to pro bono contributors and reporters, the committee’s president told Finance and Commerce that she thinks the office will inspire their work during more than two years of planning.
The NFL has also made headlines recently for its innovation in real estate. Mercedes-Benz Stadium, the new home of the Atlanta Falcons, reportedly became the first major U.S. football facility to pursue LEED v4 credits. The new facility is projected to reduce water and energy use by at least 40% compared to the Georgia Dome—scheduled for demolition in late 2017.
Today’s employees care about these issues, and they want to spend time in natural, sustainable environments. Even relatively simple ways of incorporating green spaces in offices have been shown to improve employees’ perception of their workspace and productivity levels.
As more employers focus on providing an engaging workplace experience for their employees, Asure Software is partnering with companies to deploy the necessary tools for managing real estate and assets.