IRVINE, CA-Reducing real estate costs is thetop motivator for workplace change initiatives, according toRick Cleveland, managing director, research andstrategy, for Cushman & Wakefield. AsGlobeSt.com reported earlier this week, the firm recentlyheld a global office forecast webinar here thatfocused on office markets worldwide, and Cleveland was among theresearch specialists presenting.

“From the occupier perspective, the predominant issue facingcorporations today is what to do with theworkplace—workplace transformation,” said Cleveland. “This meanshow should they change the work environment to optimizeproductivity, efficiency and cost?”

A C&W global survey of occupiers looked at what was drivingsome of their decisions to take on these types of initiatives andchange programs. The survey revealed that the top five factorsdriving workplace change initiatives were:

  1. to reduce real estate costs
  2. to attract and retain employees
  3. to increase communication and collaboration
  4. to increase employee productivity
  5. to increase creativity and innovation.

“The pace of workplace change is robust,” said Cleveland. Infact, in North America, 40.2% of respondents said they werecurrently implementing a change program, 25.1% said they wereplanning one and less than 35% were not considering a changeprogram.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.