{"id":5553,"date":"2021-09-26T16:30:12","date_gmt":"2021-09-26T16:30:12","guid":{"rendered":"https:\/\/www.wework.com\/en-GB\/ideas\/?p=5553&preview=true&preview_id=5553"},"modified":"2022-03-31T15:14:03","modified_gmt":"2022-03-31T15:14:03","slug":"how-do-you-quantify-the-value-of-flexibility","status":"publish","type":"post","link":"https:\/\/www.wework.com\/en-GB\/ideas\/research-insights\/how-do-you-quantify-the-value-of-flexibility","title":{"rendered":"How do you quantify the value of flexibility?"},"content":{"rendered":"\n

Traditionalists have always struggled with how to compare the cost of flexible property versus the cost of long-term leases<\/a>. The inherent differences between the two offerings make an apples-to-apples comparison challenging. <\/p>\n\n\n\n

But recently, property performance metrics have shifted from cost per square foot, or total occupancy costs, to something that is more employee-centric, such as costs on a per person <\/em>basis. And that makes it easier to make a side-by-side comparison. However, the focus on cost <\/em>(both per square foot and per person) often comes at the expense of other organisational goals, and prevents commercial property from adding strategic value to businesses.<\/p>\n\n\n\n

As a result of the growing influence that human resources and chief financial officers have on commercial property functions, property management teams<\/a> are now being challenged to develop property strategies that incorporate innovative solutions and agile workplace<\/a> practices to drive employee productivity, improve both talent attraction and retention, and contribute to environmental, social, and governance<\/a> (ESG) agendas. <\/p>\n\n\n\n

We know that partnering with flexible property providers to implement agile practices leads to an improved employee experience because they provide a consistent experience through access to exceptional workspaces and amenities while also empowering employees to decide where and when they work. <\/p>\n\n\n\n

This shift away from a focus on cost\u2014which has resulted in the adoption of balanced scorecards that include a variety of performance metrics\u2014has accelerated over the past year partly due to the impact that COVID-19 has had on utilisation rates, and has increased occupiers\u2019 willingness to adopt agile practices. <\/p>\n\n\n