by Brianna Crandall — April 12, 2017 — In its most recent edition of Ask the Expert, full-service commercial real estate firm Transwestern explores how landlords are increasingly using workplace optimization to attract and retain tenants. Author Adam Stoltz, senior vice president in the Transwestern Consulting Group, explains how this service benefits both parties.
Stoltz states:
The opportunity to monitor and evaluate space use, identify inefficiencies and improve workflow appeals to tenants seeking to maximize performance and employee experience. At the same time, landlords investing in workplace strategy for their building occupants attain greater tenant satisfaction and a better understanding of their tenants’ goals and objectives.”
This partnership mentality is a strong differentiator amid fierce market competition and is especially appealing to today’s tenants that often value flexibility over cost, points out Stoltz. Space that can adapt to users’ evolving requirements tends to have a distinct advantage over more rigidly administered properties.
Workplace survey and utilization study
A workplace survey and utilization study is the first step in measuring how effectively the space already functions, and reveals how well the tenant is performing in four key areas:
- Employee satisfaction,
- Support for individual performance,
- Support for group performance, and
- Inspiring pride in the workplace.
Stoltz notes:
A workplace survey provides valuable insight into the ways people are interacting with their office space. Numerical values that identify strengths as well as opportunities for improvement are an important starting point for a conversation between landlord and tenant.
Transwestern Consulting Group has found that all four areas shed light on the company’s ability to attract and retain talent, and a strategy that improves these indicators will make the tenant more likely to remain in the space.
Practical suggestions
Stoltz gives landlords such practical suggestions as embedding technology “to help tenants monitor and understand how they are using their space,” and going even further to add technology that improves the tenant experience or eliminates common service issues.
One example is running fiber alongside the main cable in an elevator in order to eliminate dropped calls, or installing iPads or digital signup boards outside of conference rooms in order to reduce conflicting demands for meeting spaces.
Find out more in the “Optimize Your Tenant’s Workspace” article.
