I recently visited the Houston branch office of the CoStar Group to participate in their latest social media webinar. Despite the fact that CoStar is located in the same building as Colliers International – Houston, I had never visited their office on any previous occasion. I was super impressed with their office that effectively reflects their brand as the leader in the commercial real estate research sector.
I have written extensively about office space design here on my blog. The appearance of your office plays an important role in branding your company and the tenant improvement allowance is one of the most heavily scrutinized and negotiated business terms in an office lease.
Earlier today, I sat in a meeting with a office building owner’s construction manager to discuss a tenant’s construction pricing plan for their office buildout. As typically happens the tenant’s wish list is over-budget and the discussion turned to what items are wants, likes and must-have. This particular tenant is placing a lot of emphasis on how their office design brands their company and is willing to spend significant money beyond the negotiated leasehold improvement allowance provided by the building owner for the right look.
The real point here is that tenants are paying closer attention to what their office space says about their brand and its not just about how its viewed externally by clients and potential customers but also how to attract and retain the best talent and get them into the office.
The much publicized decision by Yahoo CEO Marissa Mayer to ban remote work at Yahoo has sparked a lot of discussion about the benefits of working at the office vs home or a remote location. Ms. Mayer is an ex Googler and no company is more famous for their fun and quirky office environment than Google. As technology increasingly affords us the ability to work from outside the office more and more companies will look at the office environment as a tool to motivate employees to want to spend time in the office and not just as a branding opportunity and a place to get work done.