Elizabeth Fallon’s Post

Does office space quality matter in these RTO discussions? I think we lost sight of a very important variable. While debating #WFH and #RTO topics, one crucial aspect often overlooked is the quality of the space we work in. All offices are not the same, yet discussions treat them as such. Factors like role, work style, colleague interactions, commuting distance, and team location influence our desire to return to the office. But let's not overlook the quality of our office environment and its ability to meet our needs. Cushman & Wakefield's research on the new office purpose reveals a stark reality: nearly half of the workforce feels their current office fails to support that purpose! Explore our findings here: 👉 (https://lnkd.in/ey9aZeQD) It's time to consider today's office design, tech support, operational effectiveness, workplace experience, in alignment with our work goals in remote, hybrid, and office location discussions. Do you agree? #RealEstate #Engagement #WorkplaceExperience Kay Sargent, Brian Elliott, Nick Bloom, Dave Cairns, Keith Perske, Ginger King, Jaime Nielsen, Despina Katsikakis, Rachel Casanova, Samantha Sannella, Jan Johnson, Elizabeth Fallon, Brady Mick, T. Patrick Donnelly, Kate North, David Craig, Julie Seitz, Arnold Levin, Sonya Dufner, Noelle Via Borda, Leigh Stringer, Phil Kirschner, Chris Herd, Nellie Hayat, Sophie Wade, Sophie Schuller, Marissa Huber, Susan Feldman, MA, Jeff Frick, David Abrams

A recent survey conducted by property consultant Knight Frank and Cresa, a commercial real estate firm, has highlighted that over the next three years, half of the biggest international employers (those with more than 50,000 employees) are anticipating reducing their global office space by between 10% and 20%. This appears to be a direct result of the challenging post-COVID workplace. Of the 350 businesses surveyed, over half (56%) are choosing to adopt a hybrid approach to working, with 31% adopting an ‘office only’ or ‘office first’ approach. Only 12% of respondent firms are planning a fully flexible approach where staff would be mostly or entirely remote. In the search for better quality office space, many organisations plan to move – leading to increased demand for higher quality and more sustainable office space. Global Head of Occupier Research at Knight Frank, Lee Elliott, commented on the future office space strategies of firms, “Now that we are in a truly post-pandemic world, corporate decision-makers are ‘removing the blinkers’ and making clear decisions around their future corporate real estate strategy based on a broader array of business issues than just the pandemic. Firms are looking to work their offices harder, but still offer some flexibility to staff.” Interestingly though, the survey did show that of the smaller firms surveyed (up to 10,000 employees), 55% were expecting to increase their global office space. *Content is for informational purposes only #RealEstate #PropertyMarket #FlexibleWorking

As schools return across the country and many parents breathe a sigh of relief, the concept of the 9-5, Monday to Friday life once again feels estranged to many of us. So, what is the future of the office? As an office broker, you might expect me to want a full return to office more than most? Well … not really. A fully ‘in-office’ workforce may be totally necessary for some, however this seems to be changing rapidly for most. For anyone who cares for my 2 cents, this is where I see the office of the future … ❌ A 30-person team no longer need a dedicated 30-person office. ✅ They need a smaller space for the team to rotate in catering for daily use, where every so often, everyone will come together. The bells & whistles of the larger office being provided through the shared building amenities, making the whole building the company home. 🏕️ The office will be a base for a company. A home, a HQ. A place where the humans of an organisation can come together because they want to. A place to build a team culture, a bond, and a work ethic which will push the team through challenges together. 🤝 Importantly, it will a place offered by the company to its employees. What workforces will need is choice … Do what is best for the job, and for your personal situation. I fully back the hybrid model. I think it is something that needs to stay and something that if used effectively, allows teams to be more productive than ever, reducing overheads of large (empty) offices, and drives home the idea of collaboration on a more sensible scale, catering for everyone in a workforce. ✨ I’m here to support any individuals or business’ who are re-assessing their office needs now or in the future. I work with incredible brands to find the best creative & tech minded office spaces across the UK. With access to the entire flexible office market, I can build you a free comparison report showcasing all flexible office options to suit your requirements ✨ #HybridWorking #flexibleofficespace #hybridoffices #officespacelondon

📉 Low office attendance? Maybe your antiquated office design is the problem, not the people. 🤔 As the evolution of work shifts towards a blend of office, home, and third places, the role of the office has transformed too. According to employees, the main purposes of the office include facilitating #collaboration, nurturing relationships, and promoting social interactions. Unfortunately, our latest Cushman & Wakefield Experience per Square Foot™ (XSF) Monthly Insight finds that present #OfficeEnvironments are lacking in fulfilling these primary purposes of the office. XSF research shows that less than 60% of employees believe the office effectively supports its top three objectives: 😕 Only 57% believe the office adequately fosters collaboration, 😞 Merely 56% believe the office sufficiently facilitates relationship-building, 😖 Similarly, just 56% believe the office effectively promotes social connections and camaraderie. In the plethora of #ReturnToOffice #office vs #remote debates, the office is treated like a fixed variable—a finished design concept—that we desire to work in or not. However, I’d like to shift the conversation to #placemaking and not accept the traditional office as my only choice. If companies want the office as part of their #workplace ecosystem, they will need to prioritize workplace investments that curate great #WorkplaceExperiences for new ways of working. How well does your office support your needs to come together with your people? Let me know in the comments. #RTO #WorkplaceStrategy #RealEstate ————————————————— Follow me and hit the 🔔 in the upper right corner of my profile for more insights on the future of work, place, and the employee experience. Check out our latest XSF Monthly Insight here: [insert link in comments].

I have probably said, ‘When you can work anywhere, why work there’ a million times over the last few years. Good design is critical and understanding how to activate the workplace into a place with purpose and passion is also critical. Traditional office design falls short, as do traditional leadership approaches. Our insight into workplaces across the world help us identify best practices and make recommendations that help clients get better. And…we can all improve. It’s a continuous journey. #workplace #corporaterealestate #humanexperience #leadership

🏢 Half of the world's biggest companies are planning to downsize office space as hybrid working continues, according to a survey from real estate agent Knight Frank. The largest firms – defined as having more than 50,000 employees – anticipate cutting between 10% and 20% of their office space by 2026. The report is based on a sample of around 350 businesses around the world, employing a total of 10 million people. Most of those companies are moving towards hybrid work, but 31% are implementing an "office-first" approach. "Now that we are in a truly post-pandemic world, corporate decision-makers are 'removing the blinkers' and making clear decisions around their future corporate real estate strategy based on a broader array of business issues than just the pandemic," Dr Lee Elliott, global head of occupier research at Knight Frank, said in a statement accompanying the report. ❓ Is your organisation, or another organisation you know, planning on downsizing their office space in the near future? I'm keen to hear more details about the decision process behind their move. 🙏 WorkFLEX-Australia #hybridwork #thefutureofwork #officefirst #officerealestate Insider Author: 🌏 Peter Syme 🌍 https://lnkd.in/g-d6Ry-y.

This excellent article by Peter Grant in The Wall Street Journal indirectly highlights the challenge and, in my opinion, the opportunity for commercial real estate: There are the hybrid/flexible work POLICIES of organizations, and then there are the day-to-day flexible operating PRACTICES, with policy dictating less space than practice requires. Let's start with POLICIES: "In the fourth quarter, 62% of U.S. businesses allowed employees to work from home some days of the week, up from 51% in the first quarter, according to Scoop Technologies." (This is not going to change per our new research of employee expectations for #workflexibility in comments) The law firm in the article requires employees to be in the office at least 8 days a month. Assuming that requirement was 5 days a week or 20 days a month before COVID, that's a 60% decrease in required onsite presence. Based solely on the POLICY, you could assume the new lease the firm signed would reflect a comparable decrease in office space. But it doesn't. According to the article, the firm signed a new lease for 20% less space (from 113,000 sq ft. to 90,000 sq. ft). Yes, the firm is growing, but why only a 20% decrease in space when the policy would indicate a much smaller amount of office space would suffice? This is where the actual PRACTICE of how, when and where employees will work flexibly within and across workspaces and how those spaces will enable the work in a seamless and frictionless way matters more. Ultimately, organizations like the law firm will recognize that the PRACTICE of performing at high levels working flexibly will require leasing and holding more space than traditional occupancy and utilization metrics indicate. Chances are the law firm's "8 days a month" requirement isn't going to happen within a neat and tidy "two days each week with everyone in on the same days." Based on the work, it could mean some weeks, everyone working on a case is onsite working together, but then at other points in the month, they are either at a client, in court, or working at home. However, the space still needs to be available to accommodate that flexible flow of employees through it, even if a larger portion of that space is unoccupied at a rate that wouldn't have been supported before COVID. This is an opportunity for commercial real estate that needs to be emphasized. It will benefit owners, but it will also help businesses make more informed, better workspace choices. Embrace the new flexible reality of work instead of fighting it. Encourage tenants first to understand how, when, and where their employees will work flexibly in PRACTICE day-to-day beyond the parameters of POLICY (unfortunately, too few are doing this). They may still sign for less space, but that reduction will be 20% versus 60%. Thoughts Ryan Anderson, Phil Kirschner, Brian Elliott, Kate Lister, Francis Saele, Sandra Panara? #reimaginework #flexiblework #workflexibility #workspace

If you’re a young company looking to lease office space, where should you put down roots to attract the right talent? A few cities are faring better than the rest. According to Harry Klaff and Danny Mangru no single narrative explains each city—all are multidimensional and contend with a shift toward high-quality office space, migration to the Sun Belt, and renewed focus on transportation. Read about our office data research and the future of the office market in Fast Company: https://lnkd.in/gZJKDf8q #ReturnToOffice #Hybrid #Workplace #AYdifference Paid subscription to Fast Company is required to view this article.

In this post-pandemic era, the shift in work dynamics has left many organizations navigating remote and hybrid workspaces. With reduced overhead costs, this transition has been beneficial for both employees and businesses. It has, however, led to an impending challenge for commercial real estate. According to Inc magazine, an estimated 25% of commercial office space is projected to be vacant by 2026. What implications will this have for property owners and the broader business landscape? Discover more insights in this article: https://lnkd.in/gr7bJbJV

Are your team struggling to find the best way to work when not in the office? Many businesses are now reviewing their workplace strategy to integrate hybrid working. After all, the last few months have shown that it's not as simple as working in the office from Tuesday to Thursday. A successful hybrid workplace needs to be flexible and adaptable to the needs of both employees and the business. The perfect office solution for every business is out there, you just need to know where to start. That's where we come in. We're The Office Finding Experts, and we've helped hundreds of businesses find the perfect office space for their hybrid working needs. We know that every business is different, so we take the time to understand your specific requirements before we start our search. We'll work with you to find an office space that meets your budget, your needs, and your culture. If you're ready to start planning your hybrid workplace, get in touch with us today. We'll help you find the perfect office space for your team. Visit our website to learn more about our services or give us a call to discuss your needs. 💻 officefindingexperts.com 📞 020 3813 0603 📧 sales@officefindingexperts.com #OfficeSearch #FlexibleWorkspace #RealEstate #HybridWorking #CommercialProperty #London #Birmingham #Manchester #Liverpool #Bristol #Cambridge #TheOfficeFindingExperts Peter Dudley Alex Groves Steve Dempsey Lizzy Morrison