We kicked-off the meeting with a presentation from Richard Golding, Head of Global Occupier Services and Sitara Bhundia, Total Workplace at Cushman & Wakefield on the latest research ‘how workspace and talent needs shape the future of property and locational decisions.’ Then the panel discussed what we felt were the five key questions.

1.     What are the biggest considerations for CEOs of major organisations that will impact future real estate decisions? 

Cost, talent and ESG are key decision drivers which influence occupiers’ hybrid work policy. This in turn effects the role of the office, shaping the size, location, and type of future office

2.     How does hybrid work effect occupiers’ key strategic drivers?

Reduces operational costs, with lower occupancy levels allowing companies to reduce their over all footprint. It enables location flexibility, allowing occupiers to expand talent reach and foster inclusion, increase wellbeing by giving employees choice and control over where or when they work.

3.     What are other key considerations when deciding on a new location?

With proximity to work becoming less important, talent can choose where to live first with people likely to look for work-live balance beyond traditional business CBDs.

4.     What are the characteristics of successful urban redevelopment projects?

Providing access to a large diverse talent pool is key, with companies being within proximity to other like-minded occupiers that are aligned to their ESG values of sharing knowledge and fostering innovation. They're employees being offered walkable access to amenities that cater for their everyday needs and a dynamic environment through activated ground floors, public spaces and event curation encouraging social interaction.

5.     What workspace trends are we seeing?

The office is no longer a place of ‘work’. Employees view the key purpose of the office as a place to socialise and collaborate. This is resulting in less individual workspace and more collaborative space and better wellbeing amenities. The task is for companies to remove the hurdles that make the thought of working in the office unappealing, make the office enticing enough for people to make the investment to visit and compelling enough for people to repeat and return. Companies are adopting a hospitality mindset, with a shift to experiential design and a culture of measuring employee experiences and wellbeing.