Americas Office Fit Out Cost Guide 2023

OFFICE FIT OUT COST GUIDE 2023

BEST IN CLASS OFFICE FIT OUT REQUIREMENTS

In the face of new flexible work practices, occupiers are redefining the workplace and its design to better support the effectiveness of their workforce—when they are in the office interacting socially and collaboratively; innovating; and doing focused work. Furthermore, additional sustainability and DE&I criteria are impacting fit outs as corporates strive to meet their goals. Best-in-class fit outs need to incorporate the four key influences: new workplace strategies and change management; sustainability; technology; and procurement. To achieve this, occupiers are increasingly favoring a “design and build” approach which provides a holistic, turn-key solution for their fit out. The role of the office has changed, leading to more organizations providing higher quality work areas within smaller spaces, while implementing more flexible fit outs to allow for change over time. Building amenities are also leveraged to enhance employee experience, which not only contributes to achieving sustainability and wellness targets, but also helps minimize operational expenditures. Data from Cushman & Wakefield’s proprietary workplace experience diagnostic tool, Experience per Square FootTM, has shown that, increasingly, employees consider the role of the office as a place for social connections, collaboration, and innovation. At the same time, the workplace must support time for focused work, which for many employees can be a significant chunk of their working day. As work activities and demands on the office shift, the workplace needs to be dynamic: featuring multi-functional spaces that include modular and flexible furniture to allow a variety of configurations that suit different activities; open seating that can be used by those who are in the office on any given day; and reservation systems that allow occupants to book unique shared WORKPLACE STRATEGY & CHANGE MANAGEMENT

spaces for collaboration, video calls or quiet work. These solutions recognize that hybrid or flexible work reflects a shift in how work is done, not just where it is done. Occupiers at the leading edge are making this shift through a combination of updated workplace policies, innovative office design, and thoughtful change management programs. Change management programs—the most impactful tools available to positively impact the employee’s experience in the new workplace—are designed to support employees as they approach their new way of working. Communicating about the reasons for the change and coaching people on how to use the workplace are key to the success of these programs.

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