Global real estate services firm Cushman & Wakefield has surveyed tenants about in-office work organisation post-pandemic. According to its findings, 10% of respondents have reconfigured office space during the pandemic and almost a quarter intend to do so.
The proportion of surveyed companies that have not made decisions regarding office space reconfiguration remains high at 24%. They are largely tenants who do not want to spend on office refitting. They would rather wait for their leases to expire and secure an office in a new location that would better meet their needs,
comments Mariola Bitner, Head of Workplace Strategy Poland, Cushman & Wakefield.
The pandemic period saw mainly office reconfiguration out of concern for employee safety and completion of pre-planned projects. Fit-out projects tend to be planned well in advance and may take two years to complete, depending on their complexity and whether we negotiate a lease in a new location or in the current one. Our clients are beginning to develop or have already developed hybrid working strategies and are implementing new space arrangement solutions and clear rules and policies which are necessary to maintain the expected employee productivity and to achieve other corporate goals of work culture, collaboration and knowledge sharing. Defining such a strategy also takes time and is required to continue to operate without a risk of increased employee turnover which has a huge impact on a company’s operational performance and financial standing. The consequences of the pandemic will be felt for years to come and will affect project turnaround times and fit-out costs that have recently increased significantly. Companies can no longer afford sophisticated fit-outs that were within their reach just a year ago. As a result, they economize and reuse furniture and solutions in place as much as possible. The positive effect of these changes is less production of new fit-out items that would otherwise result from ongoing projects, which is good for the environment. The trend of furniture reuse emerged several years ago and was driven by environmental care. Today, both the financial aspect and delivery times impact decisions regarding new solutions in equal measure,
adds Mariola Bitner.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in 400 offices and 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com.