News
Study: Want Productive Workers? Go For The Trophy Space
March 7, 2016
A recent study by Newmark Grubb Knight Frank details the returns of trophy office space in terms of employee productivity. Here are the report's key points:
- Savings achieved by office space densification are often canceled out by cost increases from declining productivity.
- The cost of a boost in the quality of a work environment in the form of location, LEED certification, added amenities, or appealing common areas can be offset by the resulting productivity jump.
- In San Francisco, the additional cost of trophy office space is recouped by a 4% increase in employee productivity. In eight out of 10 metropolitan areas surveyed, it took a 3% increase in productivity to offset the same costs.
- Best-in-class owners should emphasize the proven effects of high-end office space on employee output when marketing.
