Case Studies

Are you putting people first? 4 ways tenant attraction will change in 2018

Equiem Marketing
January 11, 2018

The past decade has welcomed a seismic shift in the way we work. But it hasn’t all been positive: despite growing populations and their overwhelming need for space, office market vacancy rates in some parts of the world reached a significant 10.9% in 2017. With an entire tenth of our buildings sitting unoccupied, is it time that building managers revisit their methods to attract quality tenants?

Supporting a company in the ongoing war to attract and retain talent could be the key to tenant retention. By helping fulfil the needs of employees, property managers and owners can increase the value proposition of today’s workplaces.

To meet those needs, one must first understand what tenants want, on both a company level and an employee level. 

Here are 4 ways we see buildings attracting tenants in 2018:

Flexibility for everyone

Previously, co-working was linked primarily to start-ups, entrepreneurs and freelance workers - but the benefits of the phenomenon have expanded into mainstream industry. As cubicle walls fell around the world the feeling of being shackled to a desk was alleviated. Suddenly, employees could experience the productivity boost a change of scenery could deliver. Simply by moving to a different area of their office, 64% of co-workers reported a better ability to complete tasks on time.

While it’s up to the employer to provide laptops so their company can occasionally go unplugged, building managers can attract long-term tenants by ensuring that office fit-outs support flexible working styles. A variety of hot-desks, standing desks, breakout areas and meeting rooms demonstrate potential for flexible working styles, as well as open communication and collaboration between employees or businesses.

These "Agile Workspaces" have long been the norm in Silicon Valley, but we're now seeing these malleable offices filter into some of the worlds largest and most established institutions. Australia's Commonwealth Bank, the UK's O2, and even big four heavyweight KPMG have all adopted the trend, in search of a better working environment for their team members.

Convenience at a click

With workers in some parts of the world spending up to an hour commuting to work every day and 8-10 hours a day in the office, convenience is essential.

In the navigation and transport industry, innovations in tracking technology are directing employees to vacant parking spots with ease in busy cities, or helping navigate complex airport facilities with step-by-step directions (and even self-driving wheelchairs). In the world of co-working and hot-desking, new technologies are changing the way we use our workspaces - helping employees book their desk for the day or get updates on whether a meeting room has opened up in real time.

Equiem has also addressed the growing need for convenience in the workplace through its custom property management and engagement services. For example, Equiem’s custom-built micro-intranet comes complete with event booking systems, discounts to local retailers, food and coffee delivery and access to exclusive to health and wellness facilities.

A tenant’s ability to include these facilities and services in their employment offering can help them maintain their status as a quality employer, incentivising them to retain their lease and become a long-term, high-quality tenant.

Technology talks

In many ways, modern businesses haven’t grown along with the technology available. It’s not uncommon for an office worker to have higher functionality in their pocket through their smartphone than on their work computer. But BYOD (bring your own device) and technological upgrades have forced office technology to stray from the days of fax machines and dial-up internet. Why stop there?

Building managers who are able to demonstrate their ability to facilitate, support and ultimately improve the technological offering of businesses will see a rise in tenant retention and attraction. In addition to high-speed internet and wireless capabilities, an internal digital offering throughout the building is highly sought after – as proved by Equiem’s growth. In this digital age, workers seek a frictionless experience that can seamlessly integrate their personal and professional needs at the click of a button, such as that found within the Equiem Portal.

Placemaking for people

As Google and Apple have thoroughly demonstrated, company culture needs to combine people, facilities and sentiment to support the happiness and wellbeing of employees. This is just as important for individual companies recruiting employees as it is for building managers hoping to attract high quality tenants.

But fostering a sense of community within high-capacity skyscrapers has long been a difficult task. How can you connect and cater to people across disparate industries, a multitude of levels and countless offices? The answer requires a multi-pronged solution: a digital meeting place and effortless communication platform complete with an offline offering of events, services and facilities to compliment the digital experience.

For example, Equiem’s bespoke property management software offering bridges these needs with a complete package of both state-of-the-art online capabilities and on-site physical services. By combining leading technological offerings with tangible human contact and capacity, hybrid solutions like Equiem are giving tenants a significant upper hand in terms of what they can offer their employees - without much effort on their part.

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