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Making sense of the rapidly evolving workplace

 

Many occupiers remain unclear what the future of their workplace looks like. Some have applauded the flexibility WFH offers, while others have lamented the lack of interaction amongst staff, especially the difficulties of integrating new hires. To add a further layer of confusion, the government has increased the number of staff allowed at workplaces to 75%. We probably can assume that this indicates a journey back to 100% once vaccinations are complete, but nobody knows to what extent flexible work arrangements will remain. On one hand, we have spoken to numerous occupiers looking to re-shape their office space to incorporate more flexibility while on the other hand, we have seen many examples of top tier firms requesting for all staff to return once it is safe to do so.

Savills will offer some practicality amongst these evolving schools of thought and make use of the uncertainty in today's market to extract the best possible leasing result. As the list of tenant looking to rationalise space grows, it is an ideal time to understand the market mechanics and identify opportunities. We are not suggesting tenants rush into a decision, but to leverage on the uncertainty by asking the following key questions:

  • How have productivity levels been since the implementation of WFH/split team arrangements?
  • Has training / development of staff been effective via online platforms?
  • Are staff able to work from home long term?
  • Do staff require proper equipment and what are the cost implications?
  • Is the IT infrastructure of the firm adequate for remote working arrangement – a total overhaul of cloud enabled systems required?
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