- The Internet has made basic data a commodity
- Tenants can find vacant space and view lease rates themselves
- The Increased data has been welcome however, it supports a cost-driven mentality
- This approach is intellectually outdated
Many Insights into how space and people interact coming from a variety of disciplines:
• Architecture
• Look, feel, layout & design lend impressions to a companies culture
• Urban Planning
• Walkability, amenities, breakout opportunities, green space
• Industrial Organization
• What departments sit together, how do we create natural run-ins?
• Human Capital Management
• How can we connect employees naturally, how do we optimize our employees?
A New Generation in the Workforce:
• Have worked in group settings their whole life
• Do not assume they will be driving cars or even working in an office
• Make far less distinction between physical and virtual space
• The line between their working world and personal world has blended
“Work Life Balance” is about creating joy, meaning & wellness within the working and personal world vs. the ability to turn one on or off"
Innovative Companies Challenging Traditional Assumptions:
• Not merely minimizing space costs given certain constraints
• Instead, accounting for very real improvements in performance gained from understanding how their physical space affects their business
• Productivity gains from comfortable and efficient layouts
• Innovation / new ideas generated from increasing “chance encounters”
• Attracting and retaining superior talent
• Minimizing non-productive time (commutes, comparative distraction i.e. the desire to be elsewhere)
Leasing Rates, a Factor, but not THE factor:
• Saving 10% on leasing rates is nice…
• But at what cost?
• Lack of performance
• Lack of motivation
• Weakened retention – rehiring – retraining
• Pricier recruiting – higher salaries, comp packages, etc.
This is not meant to imply the best space is the most expensive. Cost is a concern, but should be treated as an input into a space’s ROI, rather than a primary criterion.
Comments