A significant portion of British employees finds their current work environment lacks productivity support.
- The recent ‘State of Real Estate Experience’ report sheds light on workplace design and its impact on productivity.
- Sustainability in the workplace emerges as a critical concern for employees, yet many feel current measures are insufficient.
- Real estate leaders face challenges due to high vacancy rates and economic stagnation.
- A data-driven and customer-centric approach is essential for improving workplace experiences.
The release of the 2024 State of Real Estate Experience (REX) report highlights critical challenges faced by the real estate sector, impacting productivity. Leveraging data from nearly 400,000 employees across almost 200 organizations, the report indicates that more than a third of British employees do not believe their work environment allows for optimal productivity.
According to Chase Garbarino, Co-Founder and CEO of HqO, the industry is at a critical juncture. While there are economic challenges, opportunities exist for those focused on providing high-quality real estate experiences. Such experiences are vital as they contribute significantly to employee satisfaction and engagement. Garbarino states, “The industry is on a knife edge right now. While the overall economic picture is challenging, there are opportunities for owners and operators who focus on providing high-quality, real estate experiences within their spaces to succeed.”
The importance of workplace design is further emphasized by Samuel Warren, VP (EMEA) of HqO, who notes that although over 80% of employees value workplace design, 34% feel their environments do not facilitate productivity. Businesses aiming for growth must understand their real estate users’ experiences and employ data-driven strategies for enhancement.
Sustainability is emerging as a significant concern among employees and occupiers, with 69% of employees desiring corporate sustainability investments. Yet, HqO reports reveal that nearly half of employees perceive a lack of sustainability in their workspaces. There is a pressing need for businesses to invest in sustainable practices and technologies to align with employee expectations and environmental responsibilities.
The REX report also identifies key workplace essentials such as ergonomic furniture and efficient climate control. These elements address the fundamental needs for stability and comfort in the office environment, which are now being increasingly demanded by employees. A focus on these aspects, according to Garbarino, not only improves the real estate experience but also enhances financial metrics like tenant retention and leasing velocity.
A shift to employee-centric, sustainable, and data-driven workplace design is crucial for future success.
