In a recent interview with Global CEO Magazine, Wathsala Wickramanayake, a distinguished Chartered Valuation Surveyor and Managing Director of WikiFrank Chartered Valuers (Pvt) Ltd., shared insights from her impressive career in property valuation and corporate management. With over a decade of experience, Wathsala has successfully overseen more than 7,000 valuation assignments, covering a diverse range of property types, from residential and commercial to industrial and agricultural assets. Her expertise extends beyond Sri Lanka, with a portfolio that spans Sri Lanka and the Maldives, serving clients from private individuals to international corporations.
As a Fellow of the Royal Institution of Chartered Surveyors (FRICS, UK) and an Associate Member of the Institute of Valuers Sri Lanka (IVSL), Wathsala combines technical excellence with a strong commitment to ethical standards and client care. Her broad skill set and dedication make her an influential figure in Sri Lanka’s valuation industry, inspiring both her team and the broader professional community.
Q. Can you introduce WikiFrank Chartered Valuers and describe the services it offers?
WikiFrank Chartered Valuers (Pvt) Ltd is a valuation service provider operating in both Sri Lanka and the Maldives. We offer a wide range of valuation services across various property types and assets, including agricultural, residential, commercial, industrial, leisure properties, plant and machinery, and vehicles. These valuations serve numerous purposes, such as sale, purchase, accounting, mortgage, corporate decision-making, and tax requirements.
As a pioneering milestone in Sri Lanka, WikiFrank is the first valuation company founded by a woman, and I’m honoured to be the first female Fellow of the Royal Institution of Chartered Surveyors (FRICS) in the valuation stream in Sri Lanka. Under my leadership, the company serves on the valuation panels of several major commercial banks, including Commercial Bank, Sampath Bank, DFCC Bank, HNB, People’s Bank, and the State Mortgage Bank. WikiFrank has also supported numerous Corporate clients in Sri Lanka and the Maldives, along with government institutions in the Maldives.
Driven by a clear purpose, WikiFrank’s vision is to become the premier platform for collaboration among experts, delivering high-quality services and building trust with clients. We’ve assembled a multidisciplinary team of Chartered Valuation Surveyors, Quantity Surveyors, Commercial Real Estate Surveyors, Land Surveyors, Architects, and Engineers. This diverse team combines technical expertise and industry knowledge to deliver reliable and high-quality valuations.
Q. What role does innovation play in your organisation’s growth strategy, especially during challenging times? How do you foster a culture of innovation?
Innovation is key to differentiation and success in any business, and WikiFrank has introduced an innovative business model to Sri Lanka’s valuation industry. By ensuring the best-fit expertise for each valuation assignment, WikiFrank adapts to the unique needs of every client. In the current challenging climate in Sri Lanka, where many hesitate to start new ventures, WikiFrank’s model minimises fixed and payrole costs, benefitting the company, clients, and professionals alike. With lower fixed-cost pressures, the company remains resilient and competitive even in tough times, offering clients cost-effective service options. Additionally, professionals gain opportunities to focus on their areas of expertise, deepening their knowledge and competencies comfortably and effectively.
Q. How do you prioritise short-term decisions without compromising long-term strategic goals?
We once referred to living in a VUCA world, but today it’s more aptly described as a BANI world. Both highlight the rapid and unpredictable changes we face, making long-term planning challenging. However, having a strategic long-term goal remains essential for any organisation. Long-term success is essentially a series of well-aligned short-term steps. In our organisation, some decisions are made to ensure immediate survival, as short-term resilience is crucial for long-term growth. In these cases, we assess each short-term decision’s pros and cons, aiming to meet immediate needs while laying a foundation for future success. Balancing short- and long-term priorities is indeed an art, one that requires both foresight and flexibility.
Q. How do you attract, retain, and develop top talent, particularly in a competitive and uncertain environment?
When you asked this question, I was reminded of Jack Ma’s statement: “We need smart people.” Leadership, then, is about bringing smart individuals together to work towards the company’s vision, which can be challenging since talented people often have differing approaches. In our company, my primary leadership challenge is to unite experts from various fields and leverage their combined strengths. This involves not only fostering synergy among talented professionals but also overcoming the hurdles of attracting and retaining top talent—especially in Sri Lanka, where valuation experts are limited. Here, transparency and honesty are essential to building trust and drawing in the right individuals.
Retention is equally vital, as it depends on treating professionals with respect and fairly compensating their contributions. Since we work with a flexible pool of independent experts, we can bring in the best-suited talent for each project, but the challenge lies in keeping these individuals aligned and focused. Leadership, therefore, requires not only strategic skill but also a deep understanding of the technical aspects of our field, allowing us to guide projects effectively and ensure that each professional can contribute meaningfully to our shared goals.
Q. How do you balance the need for cost efficiency with the necessity of investing in growth and innovation?
Balancing profitability with growth is a unique challenge, especially in the service sector where growth and innovation require ongoing investment. In our industry, each professional hour incurs costs, so reducing time spent without compromising quality is essential. To achieve this, we continually improve our processes through automation, digitisation, and lean practices, leveraging technology to streamline workflows and reduce time demands on professionals.
We prioritise high-impact innovations by carefully measuring ROI, focusing on those that enhance service quality and reduce operational costs. Although our region lags behind more developed countries in professional applications, we strive to stay updated and adopt affordable innovations that improve our service delivery.
Q. As a woman do you face specific challenges and do you believe there should be a special care for woman leaders?
As a woman in this field, I encounter certain challenges. One major hurdle is earning initial trust in my leadership; some people are reluctant at first but gain confidence once results are delivered. Another challenge is establishing objectivity in a profession where some expect women to factor in subjective or emotional elements. Maintaining a clear, professional approach and building trust in my objectivity has been essential. Additionally, the real estate industry is male-dominated, making it challenging at times to lead and unify teams with different personalities effectively. As for the second question, I believe it’s not necessary to lower the bar for women. Instead, we should encourage women to rise to the challenge and even raise the bar.
Q. What do you believe are the essential qualities that future CEOs need to lead effectively in a fast-changing world?
We live in a world filled with advanced tools, software, and technology to perform our duties. Yet, at our core, we are human beings with emotions. I believe emotional intelligence will be the essential quality of future leaders. While technology advances at an incredible pace, the fundamental nature of human beings remains the same. This rapid change often creates high pressure on both well-being and health, underscoring the need for empathetic leaders who can support people and effectively manage resources.
