As the vaccine signals a light at the end of the tunnel, businesses are looking to the future.
Companies and organisations are thinking. They are planning. How should my office space be? In the new world of work. Despite the shift in working patterns brought about by the pandemic, demand for office space isn’t going away. But Knight Frank’s recent (Y)OUR SPACE survey shows that office-occupiers have shifting priorities. Including, a new emphasis on agile working, more amenities, safety and smarter use of technology.
56% of survey respondents expect an increase in, and broadening of, the amenities provided within their workplaces, over the next three years. The war on talent is one of the things driving the requirement to make the office an ‘experience’ for employees. There is a clear expectation for landlords to proactively make office space safer. Particularly through more regular cleaning and increased air changes and HVAC maintenance but also via the greater adoption of building technology. So, what does this year have in store? 2021 will be the year when the office evolves. A new, hybrid world of work is here. Your office space will look different.
Our relationship with the office will be different. Less fixed. And more flexible. Office space will no longer be about a sea of fix desks but about a variety of workplace settings. Ones that create collaboration, community and energy. You only have to look at the new and recently fitted-out office of Home England at The Lumen in Newcastle city centre to see this approach in full swing. This is backed-up by an increasing number of occupiers with active office requirements in the North East market right now, who are seeking a similar environment, continuing this trend away from the ‘old norm’. It is well known that office occupation costs, on average, account for only around 5-7% of the cost of running a business and yet they have the power, if positioned right, to empower the workforce and take a central role in the war for talent.
Therefore, getting your office space right is more important than you may think. What type of space do I need in a post-Covid world of work? Things to consider: You have office options: coworking; serviced; managed; and traditional offices – or a mixture of the above. Within your office, what type of environments do you need? Have you asked your people? Do you need to create a flexible working policy? Do you want more collaboration space, more desk space or more meeting space? Or more of other types of space? Ask all your employees for their input, as well as drill down into your business strategy – how can your office strategy support your goals? Research shows a growing appetite for amenityrich office spaces that support an enriched workplace experience. For example, facilities that support mental well-being e.g. sanctuary spaces; socialisation hubs; training spaces for upskilling and re-skilling; cycle storage and facilities; leisure activities; and drop and collect parcel facilities. If you want people back in the office, how will you incentivise those happily working from home, to invest in a commute? Given the fragmented physical working conditions of the last year, do you need to provide space for employees to re-group, share ideas, collaborate and learn together? The quantum of space, and mix of spaces required by businesses – core, flex, and home – is not a ‘one size fits all’ model. What is your team telling you about their needs? Have you asked them? What elements of your office space will attract and retain new employees? Think about your current and future headcount. How flexible do you need the size of your office space to be? The upheaval of Covid-19 is likely to inspire a new relationship where employees look to their employers to help with new priorities, such as positive mental health. How can your office support this agenda? What role does your office play in your business’ brand and image? How will you strike the balance between office occupation and health and safety?
If you need expert advice, from friendly, down-toearth people, on this and/or help with searching for an office in the North East, Knight Frank
