{"id":51550,"date":"2022-04-11T10:32:04","date_gmt":"2022-04-11T10:32:04","guid":{"rendered":"https:\/\/www.yardi.eu\/?p=10100"},"modified":"2026-03-06T17:58:03","modified_gmt":"2026-03-06T17:58:03","slug":"harness-the-fomo-creating-workspaces-worth-leaving-the-house-for","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/en-gb\/harness-the-fomo-creating-workspaces-worth-leaving-the-house-for\/","title":{"rendered":"Harness the FOMO: Creating Workspaces Worth Leaving the House For"},"content":{"rendered":"\n<iframe loading=\"lazy\" title=\"The Future of the Office: Is Remote Work a Threat to Office Space?\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=embed&amp;i=qgket-11f09c1-pb&amp;share=1&amp;download=1&amp;fonts=Arial&amp;skin=3267a3&amp;font-color=&amp;rtl=0&amp;logo_link=&amp;btn-skin=1b1b1b&amp;size=150\"><\/iframe>\n\n\n<p>Offices need to instil a sense of FOMO (fear of missing out) to bring people happily \u2013 and willingly \u2013 back to work post-pandemic.<\/p>\n<p>\u201cForward-thinking occupiers know that quality of space matters, and they are prepared to pay for it,\u201d said Stephanie Crombie, head of sustainability at architecture practice Morrow + Lorraine on EG\u2019s Future of Offices panel at MIPIM.<\/p>\n<p>\u201cYou need an amazing space that will give people FOMO if they aren\u2019t there,\u201d she added. \u201cOur clients are saying they want to make their offices better and they want amazing spaces. We are doing a lot more fit-outs that are less office-looking and more hotel-looking.\u201d<\/p>\n<p>Bradley Baker, chief executive of developer CO-RE London, added: \u201cYou don\u2019t want a sterile environment. You want something that will reflect your brand. We have around 50-70% of employees back in our office and that is entirely down to individual choice.<\/p>\n<p>\u201cThere is no official policy, and I think people have wanted to come back because we have an interesting building.\u201d<\/p>\n<h2 id=\"h-difficult-balance\" class=\"wp-block-heading\">Difficult balance<\/h2>\n<p>The pressure is on not just to lure people back into offices, but to do so in a way that protects talent retention. For many businesses, there is a real fear that prescribing a strict return-to-work policy could see staff leave for firms offering a less rigid work environment as the war for talent reaches new heights.<\/p>\n<p>Melanie Williams, head of global real estate at law firm DWF, said: \u201cWe are finding that the war for talent is just so tough in professional services, so we have to be very understanding. We have lost a lot of loyalty because people have been at home for so long they have lost that team spirit. It is a very complicated issue with a lot of psychology involved.<\/p>\n<p>\u201cWe have to be understanding. We also have another challenge, which is that we are accountable to our shareholders and ESG is a very important part of our business. So we can\u2019t be seen to be saying to people, come in and burn fumes in your car, park in the car park, burn fumes in the office and then burn fumes when you go back home again.<\/p>\n<p>\u201cSo we are in this very difficult balance \u2013 of trying to balance all of this with bringing back team spirit and morale, and getting people back around their colleagues to learn.\u201d<\/p>\n<p>James Lowery, UK and Europe chief executive at Essensys, added: \u201cLife and work have become so intertwined over the past two years. To unpick that could be detrimental, especially when the war for talent is so tough. Maintaining and retaining that talent should be a top priority.\u201d<\/p>\n<h2 class=\"wp-block-heading\">Luring talent<\/h2>\n<p>And so the debate swings back to the other ways employees could be lured back to the workplace, with the power of inspiring office design and development topping the list.<\/p>\n<p>Morrow + Lorraine\u2019s Crombie said: \u201cIf it is the right space then, after so long at home, people have really started to see the value of the office as a physical manifestation of the company culture and identity. There is a real opportunity to make the most of this.\u201c<\/p>\n<p>Revisiting the ESG point, DWF\u2019s Williams emphasised again how key it will be to create sustainable, as well as attractive and engaging, office buildings to lure and keep talent. \u201cLots of people, especially younger people, will just turn around and say \u2018I don\u2019t want to work in a dirty building, I won\u2019t do it\u2019. But it\u2019s not just them, it\u2019s our clients, too.\u201d<\/p>\n<p>Speaking of clients, occupier behaviour and trends cannot be overlooked in this dissuasion. They are, after all, the ultimate market drivers.<\/p>\n<p>\u201cThe big question is whether occupiers are looking for the same volume of space they have had traditionally when they renew their leases,\u201d said Neal Gemassmer, Yardi\u2019s international vice president. \u201cThe other question is, are they looking for the same duration?<\/p>\n<p>\u201cWhat we are seeing with global renewals at the moment is that the volume of space is coming down and the duration of the lease is coming down. It\u2019s all part of the big social experiment as businesses explore how much people actually need to be in the office.<\/p>\n<p>\u201cBut that is the situation. On a global level the volume of space required by corporate occupiers is coming down, and landlords need to be aware of that.\u201d<\/p>\n<p>The trick is to find or create space that \u201coffers flexibility in times of uncertainty\u201d, he added.<\/p>\n<h2 class=\"wp-block-heading\">Still positive<\/h2>\n<p>But while occupiers might be looking for a reduction in space for now, CO-RE\u2019s Baker is convinced this could change over time. He said that a CO-RE survey of 125 large corporate occupiers conducted in June 2021 revealed that, while all of those surveyed said that the majority of people would be working from home in June of that year, within three years they predict we will be back to nearly full occupancy \u2013 albeit using a hybrid model.<\/p>\n<p>\u201cThere is a tendency to have knee-Jerk reactions to things,\u201d he said. \u201cWhen the pandemic hit, suddenly the office was dead. In 2021 there were lots of very serious players saying that the office was no more and that there would be no need for an HQ. One year later, and it\u2019s a different ball game.<\/p>\n<p>\u201cWhen you really sit down and look at the situation rationally, it doesn\u2019t go to those extremes. And the vast majority of occupiers that we speak to are still very positive.\u201d<\/p>\n<div class=\"wp-block-image\">\u00a0<\/div>\n<p><strong>The panel<\/strong><br \/>Bradley Baker, chief executive, CO-RE London<br \/>Stephanie Crombie, head of sustainability, Morrow + Lorraine<br \/>Neal Gemassmer, vice president, Yardi<br \/>James Lowery, UK and Europe chief executive, Essensys<br \/>Melanie Williams, head of global real estate, DWF<\/p>","protected":false},"excerpt":{"rendered":"<p>Offices need to instil a sense of FOMO (fear of missing out) to bring people happily \u2013 and willingly \u2013 back to work post-pandemic. \u201cForward-thinking occupiers know that quality of space matters, and they are prepared to pay for it,\u201d said Stephanie Crombie, head of sustainability at architecture practice Morrow + Lorraine on EG\u2019s Future [&hellip;]<\/p>\n","protected":false},"author":897,"featured_media":51115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3463,3387,3386,3466],"tags":[],"class_list":["post-51550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-management-en-gb","category-commercial","category-investment-management","category-office-en-gb"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yardi Blog<\/title>\n<meta name=\"description\" content=\"Offices need to instil a sense of FOMO (fear of missing out) to bring people happily \u2013 and willingly \u2013 back to work post-pandemic.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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