Real Estate Journal — August 25 - September 14, 2017 — 5A
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M id A tlantic
M id A tlantic R eal E state J ournal
Cost, innovation and employee engagement are key drivers of space strategies for forward thinking companies Meeting office tenant challenges with innovative real estate solutions
ants today, it’s impossi- ble to take a homogenized, one-size-fits- all approach. Every indus- try is differ- ent and each t e n a n t i s unique – and W
hen it comes to meeting the de- mands of office ten-
that is positively influencing engagement to create impact- ful results. To help clients create in- tegrated workplace, tech- nology and HR initiatives, Cushman & Wakefield has introduced a diagnostic tool trademarked as Experience per SF ™ (EPS2). EPS2 is an industry differentiator based on the needs of the market- place and leaders seeking to create, measure and moni- tor their employees’ work- place experiences. Through surveys, observations and focus groups, we can break
down an employee experi- ence across 33 attributes and 10 experience outcomes. We create a baseline experience score, and in true test and learn fashion, identify EPS2 actions and measure and report results. These results help clients prioritize their experience improvement initiatives, balance their recommendations between people, place and technology, and move from costs to add- ing value. Paul Garvey is senior director at Cushman & Wakefield. n
solutions to this complex chal- lenge, which lies at the inter- section of their real estate and
Operational Excellence: Creating a compelling employee experience is the leading work-
EPS2 is an industry differentiator based on the needs of the marketplace and leaders seeking to create, measure and monitor their employees’ workplace experiences.
talent strategies. In fact, more than half of our Workplace Strategy clients come through their company’s Human Re- sources department. HR is typically charged with ensur- ing that their firm is deliver- ing an employee experience
place contributor to improving engagement. To be competitive, top companies know they must invest in creating a superior workplace experience. We are seeing an increasing number of clients utilize our Workplace Strategy program to develop
Paul Garvey
so are their requirements. Companies of all shapes and sizes are closely examining the needs of their businesses, and it’s our job to provide innova- tive real estate solutions to their specific challenges. Historically, Philadelphia has tended to lag behind when it comes to office market trends. However, the region’s more forward-thinking compa- nies are recognizing and react- ing to the same critical busi- ness issues that we are seeing in bellwether markets such as London or San Francisco. Here is a short list of some of the top challenges that are currently having an impact on corporate real estate strategies: Pressure on Cost: Certain industries and sectors within industries are enjoying sig- nificant pressure on cost. In addition, corporate real es- tate often has to compete for capital resources within the enterprise. Where cost con- trol is a significant element, the result is a strategy with a singular focus of getting the most out of every rent dollar. With tightening vacancies and rising rents in Class A spaces, this is a greater challenge and demands more creative ap- proaches. Innovation: Many compa- nies are considering how every aspect of their facilities and work environment – from loca- tion and co-tenancies to floor layout – can help foster and accelerate the generation of innovative ideas and processes within their enterprise. Talent Availability: Tal- ent is the clear driver of busi- ness success and the deter- mining factor in who wins or loses in the global market. As the second-largest employee demographic (Baby Boom- ers) retires and is replaced by the largest demographic (Millennials), forward look- ing companies are positioning themselves to attract and re- tain this coveted talent source.
Cushman & Wakefield is a leader in the global real estate marketplace, putting the client at the center of everything we do. CUSHMAN & WAKEFIELD BUILT TO LEAD
With over 45,000 employees in over 70 countries.
4.3 billion square feet of space under management.
$191 billion in transactions.
$6 billion in revenues.
Built to help clients reach their full potential.
1650 Market Street - 33rd Floor Philadelphia, PA 19103 215-963-4000 cushmanwakefield.com
PHILADELPHIA, PA | CONSHOHOCKEN, PA | HARRISBURG, PA | ALLENTOWN, PA | SCRANTON, PA | MT. LAUREL, NJ | WILMINGTON, DE
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