REWORKING the Office Asia Pacific

Q: COST | The top 5 cost considerations

1. Economy | The macro-economic environment you’re operating in and the impact it has on your budgets, requirements and outcomes 2. Location | what aligns with your cultural, operational and cost requirements? 3. Space | How much do you need according to your workforce and work-model e.g. Hybrid, WFH, Office 4. Lease Structure | What’s currently market-standard, what can you benefit from, what is important to you? 5. Market Cycle | Are you in an under or over-rented market, and how can you make it work for you?

Q: CARBON | 5 considerations to achieve your ESG goals

1. Building Selection and Landlord Partnership | The right building can greatly assist you in achieving your sustainability goals, while the wrong choice can significantly hold you back. Look to align your goals with the building and landlords commitment to ESG – the assets level of accreditation provides a great indicator on whether your goals align. 2. Accreditation | Gain accreditation for your fit out design to ensure it meets best-practice and reflects your ESG values 3. Green Spaces | The health benefits to employees has been well documented and proven, look for opportunities in outdoor areas, including rooftops or lobby spaces. 4. Employee-led initiatives | Foster engagement from your workforce in establishing recycling, waste reduction, or sustainable supplier initiatives. 5. Health and Well-being Focus | Consider Mental Health Support, Fitness and Nutrition Programs, as well as physical workplace enhancements (e.g. standing desks, natural lighting, Quiet and Relaxation Areas)

Q: CULTURE | 5 things employees’ value

1. How you approach wellbeing | Employees want to work for a company that cares about them, both physically and mentally. What initiatives are in place? What flexibility do you offer? What physical spaces and strategies are in place to retreat, focus or socialise? 2. Flexibility | Do you offer WFH or hybrid-working? Do you encourage a strong work/life balance. Do you see me as a person, not just as an employee? 3. Community / Connection | Are there opportunities to connect with others across the business to learn and grow? Are there regular social initiatives or ways to interact with the wider business, other tenants in the building or surrounding community? 4. Location and amenities | Where is the office situated? Is it easy to get there, does it have good places nearby to eat, socialise, work-out, shop? 5. Compensation and career opportunities | Is my salary competitive? What benefits are offered? Is there room to grow? Are there good mentors and ways to advance my career?

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Quick facts | Cost | Carbon | Culture | Community

Is it time to start reworking your real estate strategy?

Considerations for a corporate occupier of real estate

The office sector is currently going through global structural change as organisations seek to adapt their physical spaces to new ways of working and adjust their corporate real estate decision making. Our ‘REWORKING’ series examines decision-making for occupiers under four key considerations: Cost, Carbon, Culture and Community – under which the changing demands, needs and impacts on office spaces and strategies can be examined.

Find your local office sector experts by selecting your country below:

Australia
Greater China
India
Japan
Singapore

Quick Facts

Cost | The top 5 cost considerations

Economy | The macro-economic environment you’re operating in and the impact it has on your budgets, requirements and outcomes
Location | what aligns with your cultural, operational and cost requirements?
Space | How much do you need according to your workforce and work-model e.g. Hybrid, WFH, Office
Lease Structure | What’s currently market-standard, what can you benefit from, what is important to you?
Market Cycle | Are you in an under or over-rented market, and how can you make it work for you?

Carbon | 5 considerations to achieve your ESG goals

Building Selection and Landlord Partnership | The right building can greatly assist you in achieving your sustainability goals, while the wrong choice can significantly hold you back. Look to align your goals with the building and landlords commitment to ESG – the assets level of accreditation provides a great indicator on whether your goals align.
Accreditation | Gain accreditation for your fit out design to ensure it meets best-practice and reflects your ESG values
Green Spaces | The health benefits to employees has been well documented and proven, look for opportunities in outdoor areas, including rooftops or lobby spaces.
Employee-led initiatives | Foster engagement from your workforce in establishing recycling, waste reduction, or sustainable supplier initiatives.
Health and Well-being Focus | Consider Mental Health Support, Fitness and Nutrition Programs, as well as physical workplace enhancements (e.g. standing desks, natural lighting, Quiet and Relaxation Areas)

Culture | 5 things employees’ value

How you approach wellbeing | Employees want to work for a company that cares about them, both physically and mentally. What initiatives are in place? What flexibility do you offer? What physical spaces and strategies are in place to retreat, focus or socialise?
Flexibility | Do you offer WFH or hybrid-working? Do you encourage a strong work/life balance. Do you see me as a person, not just as an employee?
Community / Connection | Are there opportunities to connect with others across the business to learn and grow? Are there regular social initiatives or ways to interact with the wider business, other tenants in the building or surrounding community?
Location and amenities | Where is the office situated? Is it easy to get there, does it have good places nearby to eat, socialise, work-out, shop?
Compensation and career opportunities | Is my salary competitive? What benefits are offered? Is there room to grow? Are there good mentors and ways to advance my career?

Community | 5 types of community to consider

Work communities – The community you establish within your own organisation is the essence of your culture. People thrive off connection, which has increasingly become harder to foster as a result of hybrid working models. With human connection more critical than ever, the war on talent will be won by companies that manage to cultivate an engaged and dynamic community within their own 4 walls.
Social Communities – People used to come into offices because they had to. Now people come into town to work, but also to engage in the broader spectrum of activities that city centres offer. In this context external amenity and places to build meaningful communities with others becomes an important component of the office worker’s value proposition.
Entrepreneurial Communities – The strength of a business comes through a connected ecosystem of suppliers, customers and competitors. Entrepreneurial communities focus on small or start up, creative, technology and science-based occupiers. This dynamic environment relies on a high volume of shared information, transferable labour and mutual support.
Temporal Communities – Not all communities need to be enduring. Experience or project specific communities can drive value as a catalyst for innovation or regeneration. Modern placemaking strategies address this through the creation of ‘meanwhile uses, pop-ups’ and other activation activities. This helps to give a sense of place, providing hints to the future brand of the location, and to provide a social nexus for local communities to engage in otherwise forgotten and excluded spaces.
Regenerative Communities – As uses shift and places take on new purposes, the galvanisation and custodianship of new communities generate both economic and social benefits. This transformation is already underway globally, where we’re seeing secondary assets being repurposed for residential uses. As master developers take longer term custodianship roles with ongoing responsibility for the sites they deliver, and as they are judged by their own stakeholders on ESG criteria, well considered investments in placemaking and community creation will be critical.

Contacts

Anshul Jain

Head of APAC Tenant Representation and Managing Director, India & Southeast Asia
Singapore, Singapore

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Cameron Ahrens

Managing Director, Head of GOS, APAC
Singapore, Singapore

+65 63178312

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Tom Gibson

Head of PDS, Asia Pacific
Singapore, Singapore

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Carol Wong

Executive Director
Singapore, Singapore

+65 63178320

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Dominic Brown

Head of International Research, Global Think Tank
Brisbane, Australia

+61 (431) 947161

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Cost

REWORKING LEASE EXPIRIES

Are you paying too much or too little rent? In this paper, we give occupiers a view on whether they have positive or negative rental exposure in the prevailing market conditions, to help prompt subsequent action and potential cost-savings.

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LEASE GUIDELINES

A concise guide looking at lease terms and conditions across 12 key markets in Asia Pacific.

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LEASE DISPOSAL GUIDELINES

It is challenging to dispose of excess or unwanted space in most markets, but there are ways around it. In this short guide, we look at lease disposal options in China, Hong Kong, Singapore and South Korea.

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OFFICE FITOUT COST GUIDE

Whether it’s a basic, collaborative, or advanced hybrid fit out requirement, this guide, compiled by our Project & Development Services team, serves to assist you in defining your capital planning and relocation budgets.

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I’d like to discuss finding, negotiating or disposing of space

CARBON

HOW TO RETROFIT: ASIA PACIFIC

Retrofitting is the least capital-intensive way to make our existing buildings smarter and more efficient in order to reduce carbon emissions. How to Retrofit is our three-step program that will guide you through how to retrofit your property and create efficient portfolios

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OUR SUSTAINABILITY SERVICES

Sustainability has become not only a priority, but a mandate for many companies. As one of the top global real estate services providers, Cushman & Wakefield is leading the way in Asia Pacific to drive responsible business practices in the property industry.

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IS SUSTAINABILITY CAUSING OBSOLESCENCE?

Gordon Marsden considers how ESG impacts different investor profiles, and Mika Kania shares some sustainability solutions available to each.

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I’d like to discuss my ESG strategy

CULTURE

REWORKING PROPTECH

Rapid advancements in technology continue to transform buildings and workplaces, promising productivity, connectivity and sustainability. In this paper, we explore pathways for owners and occupiers to find best-fit solutions to support their workplace vision and long-term business case.

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WHAT OCCUPIERS WANT

What are your peers saying? What’s keeping other occupiers of office real estate up at night? Highlights from this year’s What Occupiers Want report include perspectives on workplace design, global talent recruitment, flexible work and changes to real estate portfolios.

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REWORKING THE WORKPLACE

Follow our UK series of weekly blogs and podcasts focusing on some of the most innovative developments in workplace strategy, researched from over 50 leading global companies.

We are also excited to announce the release of our new book, ‘Reworking the Workplace with RIBA.

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I’d like to discuss my workplace strategy or fit out

COMMUNITY

DIGNIFIED ACCESS

In our Dignified Access paper and checklist, we address the critical importance of providing equal access to individuals with disabilities or special needs within the workplace. It highlights the numerous benefits of ensuring a barrier-free workplace, including enhanced productivity, employee satisfaction, and attracting and retaining diverse talent.

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WORKPLACE DESIGN FOR THE NEURODIVERSE

Inclusive design—though well-intended—isn’t always inclusive enough. Considering the many ways in which a neurodiverse population experiences physical space—and designing for those diverse experiences—puts us on a clearer path to creating less stressful, more supportive places to work.

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WORKPLACE EXPERIENCE SURVEY

Let data establish your Reason for The Office with tangible actions to improve the workplace experience.

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I’d like to discuss my community strategy

READY TO REwork YOUR ASSETS?

Contact our Reworking Team now!

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