The Leader Magazine

MAR 2017

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choice of spaces maximizes employee productivity, engagement and satisfaction. • Remember that people's preferences change as they age. • When asking people to change, ensure that they understand why and the benefits for them. • Establish goals, conduct pretests and measure results. Will the use of coworking be used to monetize unused space? Increase diversity and foster creativity? Engage with the community? Or test new workspace ideas? What's next? A decade after its arrival, coworking has clearly established itself as a valued workplace model for contractors and employees who seek flexibility, and for employers attempting to foster creativity and engagement among workers. It would be wrong, however, to conclude that coworking signals the demise of the traditional corporate office. Better, perhaps, would be to think of coworking as the newest addition on the evolutionary tree of work, which now branches far beyond the traditional office. For real estate leaders, the coworking trend is certainly worth watching and, perhaps, exploring. For some, it will offer a way to add flexibility to their portfolio and help them better match the ebb and flow of supply and demand. Others may find it a solution to some of the challenges posed by the changing nature of both work and worker. In the end, though, the question of whether or not coworking belongs within an organization's ecosystem depends on the individual traits and goals of the business. Like any real estate decision, the answer must be founded on a solid understanding of the company's business goals, its culture and people, and the market. This article is condensed from a recent report from HOK's WorkPlace practice, produced in partnership with the UK Chapter of CoreNet Global. 60 MARCH 2017 F E A T U R E A R T I C L E 1 NAIOP Research Foundation. (2014, January). Workplace innovation today: The coworking center. 2 Small Business Labs. (August 2016). Coworking forecast – 26,000 spaces and 3.8 million members by 2020. http://www.smallbizlabs.com/2016/08/ coworking-forecast-44-million-members-in-2020.html. 3 Jones Lang LaSalle. (2016, May). Shared workspaces. http://www.us.jll.com/united-states/ en-us/Research/US-Shared-workspace-2016-JLL. pdf?469a8209-e847-4cf7-9ae9-09deb6f990d9. 4 PGi. (2015). 2015 PGi global telework survey. http://img03.en25.com/Web/Premiere GlobalServices/%7B7e70c99d-24b4-43c3-96f9- 4c3a24698cf4%7D_2015_PGi_Global_Tele- work_Survey.pdf. 5 Servcorp. (2015). Annual report of 2015. http:// www.servcorp.com.au/media/1409/annual_re- port_2015_asx.pdf. 6 Regus. (2015). Annual report and accounts 2015. http://www.regus.com/images/Regus_plc_con- solidated_report_and_accounts_2015_tcm304- 58776.pdf. 7 WeWork. (November 2016) WeWork at 100 https://www.wework.com/blog/posts/wework- at-100 8 eOffice. (2016, January 27). Top 3 banks embrac- ing coworking. http://blog.eoffice.net/2016/01/ top-3-banks-embracing-coworking/. 9 Moore, A. (2014, April 10). What you may not know about your neighbor. Crain's Chicago Business. http://www.chicagobusiness.com/ar- ticle/20140410/issue01/140409709/what-you- may-not-know-about-this-next-door-neighbor. 10 Lindsay, G. (2013, February 8). From Zappos: 4 simple hacks to foster office collaboration. Fast Company's Co.Design. http://www.fastcodesign. com/1671797/from-zappos-4-simple-hacks-to-foster- office-collaboration. 11 Intuit. (2010, October). Intuit 2020 Report. http://http-download.intuit.com/http.intuit/CMO/ intuit/futureofsmallbusiness/intuit_2020_report.pdf. 12 Deskmag. (2016, May 5). Coworking in the U.S. 2016. http://www.deskmag.com/en/2016- forecast-global-coworking-survey-results. 13 Deskmag. (2016, May 5). Coworking in the U.S. 2016. https://dl.dropboxusercontent. com/u/64387613/Coworking%20Survey%20Re- sults/DESKMAG%20GCUC%20GLOBAL%20COWORK- ING%20SURVEY%20PRESENTATION%202016%20 SLIDES.pdf. 14 Servcorp. (2015). Annual report of 2015. http://www.servcorp.com.au/media/1409/an- nual_report_2015_asx.pdf. 15 Jones Lang LaSalle. (2015). Elevate to excellence: Global corporate real estate trends 2015. http:// www.jll.eu/emea/en-gb/global-cre-survey-2015/ download. 16 Deskmag. (2016, May 5). Coworking in the U.S. 2016. http://www.deskmag.com/en/2016- forecast-global-coworking-survey-results. Capital One Labs accelerate innovation Capital One is continuously reimagining how its associates work together to deliver best-in-class products. The company's workplace strategy includes the creation of innovation incubators like Capital One Labs, where cross-functional teams come together in shared space to break down traditional organizational barriers and "fail fast" as they develop high-impact products and services that support all aspects of the enterprise. These spaces, which embrace the concepts of a shared work environment, serve as internal co-location spaces for Capital One employees. Most recently, Capital One expanded its DC Lab with the goal of harnessing its maker culture by providing the right tools for co-locating product teams from across the company to quickly test and learn through project sprints. This highly collaborative DC Lab space was intentionally designed to be simple and easy to use to allow teams to do complex work. Two important design elements – the playground and the city grid – support this focus. "The playground provides teams with interactive features to encourage fun and collaboration, and includes both group and individual spaces," said Michelle Cleverdon, workplace strategy and design lead at Capital One. "As an urban-planning approach to the design of the space, the city grid breaks down the area into smaller blocks that are easily changed. Teams can use the space for a single meeting or for several months. In addition to supporting our internal needs, the DC Lab enables increased engagement with the local tech ecosystem as a space to host meetups, design sprints, hackathons, pitch sessions and events." Kay Sargent, ASID, IIDA, CID, LEED AP, MCR.w, is a senior principal and director of HOK's WorkPlace practice with more than 30 years of experience. She is a recognized expert on workplace design and strategy issues and is based in Washing- ton, D.C. Beate Mellwig, LEED AP, is a vice president and regional leader for HOK's interiors practice in London. With more than 25 years of interior design experi- ence, she has led the delivery of many high-profile projects worldwide.

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