Influence of corporate real estate management on organizational performance: a study of banking sector in Bauchi Metropolis, Nigeria

Abstract

Corporate real estate management (CREM) plays a vital role in enhancing organizational competitiveness and productivity. A research gap exists in understanding the specific CREM strategies adopted by banks in Bauchi Metropolis, Nigeria, and their direct impact on organizational performance. This study aims to address this gap by investigating CREM practices in the banking sector, focusing on its influence on performance. The study utilized a quantitative approach, collecting data from 78 staff across various banks in Bauchi Metropolis. It employed a stratified random sampling technique and a structured questionnaire with 5-point Likert-scale questions to measure respondents' perceptions on the impact of CREM practices on organizational productivity and performance; the key CREM variables affecting productivity and performance and understanding stakeholders' perceptions of CREM's added value. The study revealed that banks in Bauchi Metropolis recognized the significance of several CREM strategies. Moreover, tailoring CREM strategies to the local context was seen as vital for success. In terms of organizational performance, respondents agreed that effective CREM positively influenced financial performance, cost reduction, operational efficiency, customer satisfaction, and the bank's reputation. The study oncludes that CREM significantly benefits the banking sector in Bauchi Metropolis, positively affecting performance across various aspects. To maximize these benefits, banks should adapt CREM strategies, foster innovation in workplaces, and implement evidence-based practices.