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Technology has revolutionized the workplace, supporting rapid communications, collaborative tools and access to critical data. Digital tools and the cloud can optimize productivity, that is until the internet goes out.
Internet outages and slow, unreliable connectivity are highly disruptive in the office. Emails pile up, documents cannot be shared, important data becomes inaccessible and morale declines.
According to a WiredScore survey of office leasing decision-makers, "The Value of Connectivity," when connectivity issues occur, the company’s employees are impacted by increased stress levels (45%), frustration in helping customers (41%) and lower productivity (36%). Over three-quarters of tenants surveyed said that poor connectivity impacts company profitability.
It is not just startups that feel the pain of internet outages. Traditional industries are increasingly reliant on connectivity in the office. Leasing decision-makers across all industries in the 10 largest U.S. cities found that 80% of businesses experience connectivity issues in their offices, with an average of 4.3 disruptions each month.
Today, Goldman Sachs employs more programmers and engineers than Facebook. In the digital economy, every company is a tech company, and success depends on connectivity.
To keep up with tenant demand for high-quality building connectivity, responsible property owners are investing in connectivity improvements across their assets. Some have undergone portfolio-wide reinvention programs to provide commercial tenants with 21st-century workplaces. Those initiatives include working with WiredScore to achieved Wired Certification across their office portfolios.
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From financial institutions to law firms, media companies and tech startups, commercial tenants rely on resilient digital connectivity. Across all industries, employees stay productive with not just office phones and desktop computers, but smartphones, tablets, Software as a Service platforms and videoconferencing technology. These devices require strong internet service to work seamlessly throughout the day.
As buildings embrace smart technology and the Internet of Things, offices will need to prepare for both current and future demand. Wired Certification gives tenants the assurance that their office buildings offer best-in-class connectivity. Current tenants in some of Manhattan's Wired Certified buildings include JPMorgan Chase, Salesforce, Blackstone, Google and IBM.
According to WiredScore's study, location and quality of the internet connection are now the top two features considered important by leasing decision-makers when selecting space. Price was named as the third-most important consideration, with 84% of tenants reporting that they would pay more per square foot in a building with better connectivity infrastructure.
For business owners searching for their first office or a new location, it is clear that reliable connectivity is a top consideration on par with location and price. It is not just a company’s profitability at stake: It is employee happiness, too.
Wired Certification stands as a symbol of their commitment to redefining Class-A office space. As more companies revolutionize their workflows with digital, cloud-based technology, the buildings they occupy will have to undergo a similar transition. Property owners who refuse to bring their properties into the internet age run the risk of vacant office space.
The way forward is through best-in-class digital connectivity.
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