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Your office: Stay or go?

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It’s the question that has had business leader’s stumped for the last eight months, alongside ‘what value does the office have anyway?’ and ‘how can I keep my team engaged when they’re working remotely?’ 

In fact, the question isn’t as simple as ‘stay or go’. You could stay and keep your office just as it is. You could stay and refurbish. Stay but relinquish space to a sub-lessee. Stay but also invest in satellite space. Move to a bigger workplace. Move to a smaller workplace. Consolidate to one headquarters. Separate into multiple offices. Move to an office outside of town. Or deeper into the city.

There are a multitude of outcomes and working out which is best for you is never an easy decision, even before adding Covid-19, Brexit and economic uncertainty to the mix.

No matter the conundrum, we can help you find the solution to your real estate strategy in three steps. And all those other questions will be answered in the process.

How?

We are workplace consultants, analysts and designers passionate about making better spaces for employees and creating the best property solutions for employers. We have a deep understanding of maximising productivity in the new future of work, expertise in progressive office design, and a team that totally engages with your business to ensure you achieve the outcome you need.

We recently supported a modern merchant bank in defining their real estate needs. They used to occupy three central London workspaces and now only occupy two. They aren’t downsizing, taking on a massive amount of floor space, or cramming people in like sardines. They are redefining how they work to provide the best experience for their employees, customers and clients. They’ve been able to confidently move forward on their project and save £1.3m a year in rent in the process. 

Step 1. We determine your working model

Our Hybrid Working programme looks at your business now and your plans for the future, identifying the proportion of employees that need to work in the office, and how frequently, to enable the business to reach its ambitions.

We look at key activities, roles and responsibilities, functions that can be performed from the office, home or anywhere else, flexibility, staff engagement, productivity measures, employee requirement and employee preference.

This thorough evaluation determines the office-worker:home-worker ratio that is best for business and best for your people.

Step 2: We assess your real estate

Once that ratio is determined, our team can review the space you have to see if it’s fit for your future. Now we understand the size, location and features required for your office we can compare that to what currently exists, what solutions could be achieved with remedial work and what alternatives are being provided by your landlord. If those options don’t meet your needs, we’ll help define an alternative building brief and location strategy to find new premises to fit your needs.

We’ll help you understand what any scenario means to your budget, where you might be able to save money and areas you might need to invest in. This applies not only to real estate but things like technology and management training (on new ways of working). We take a holistic view throughout to ensure you invest mindfully in the areas that will have the greatest impact.

Step 3: You make your decision

At this stage you should be suitably informed and ready to answer the question: Stay or go? You’ll understand where an office adds value to your business and where it doesn’t, how you can manage and engage your workers from the office, home or anywhere they may be working from. You’ll have the assurance you can achieve exactly what you defined in your brief and feel confident making a big decision that affects your business, your people and even your clients experience. The right office is not just a room to put your people in. It elevates your brand, nurtures culture and is the glue that holds your team together.

If you have an upcoming lease event and would like our help understanding how your business can move forward in uncertain times, contact us on 020 7846 0686 or email hello@thirdwaygroup.com

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