The Best Tenant Retention Method? Design Your Corporate Property Around Their Lifestyles

Tenant Retention

Today’s corporate property team does much more than manage buildings. It is responsible for creating an enticing, collaborative environment that fosters creation and productivity for top talent. Though this may seem daunting, it is in fact an incredible opportunity for property owners. A carefully designed work atmosphere can appeal to fresh, young minds who know that their own well-being goes hand in hand with their team performance, therefore leading to happy tenants all around. But what are the amenities corporate property teams and decision makers should focus on?

Think of it as you would in all aspects of life – where would you want to be? If a corporate property team can create a building that employers and employees actively enjoy and want to spend time in, they will be that much closer to retaining these tenants for years to come. It doesn’t so much matter the industry, the property size, and the newness of the building. What attracts people is a place where they can feel happy, even while they’re chugging along through their traditional 9-5. 

Regus, a multinational corporation that provides serviced offices, virtual offices, meeting rooms, and videoconferencing to clients on a contract basis, reports a few ways that property can attract talent in a new article. Interestingly, it makes no difference whether an office space is big or small, as long as the workplace offers what a typical employee enjoys. It’s all about thinking creatively and flexibly.

The workplace of the future is agile, with open-plan, activity-based spaces, seating options from hot desks to sofas, and separate areas for collaborative and private work. With all of the resources at large corporations’ disposal, those that commit to changing their strategy can inspire in a way that small companies can only dream about.
— Regus

Work-life balance is another big factor in designing a building both employers and employees will enjoy. According to the Regus Workplace Revolution report, over 50% of workers now work outside their main office for 2.5 days a week or more. This isn’t always attainable for every company, but as long as their building space offers the feel of working with freedom – such as including on-site fitness classes, collaborative spaces, and supportive amenities that fit employee lifestyle choices – they have a higher probability of staying. This is good news for corporate property teams!

Property managers need to look at other workspaces, too, including shared spaces or studios that are laid out in a way that encourages co-working or co-creation. These are better suited to new flexible work styles, fit employee lifestyle choices and meet the needs of different generations. They offer places to meet interesting groups and to collaborate more easily.
— Regus

If you are a corporate property professional looking to up the appeal of your building, consider adding collaborative spaces reminiscent of an employee’s day off. An on-site yoga or fitness studio is a great place to start. Utilizing “green” practices is another. Listen to your tenants needs, and if necessary, offer a survey to find out what they are. Re-design your building around these needs and poll them again. The results should please you!

Chasing Nirvana Yoga offers on-site yoga and wellness classes to office spaces, corporate properties, community events, and more. To set up your free consultation as a property owner, please visit www.chasingnirvanayoga.com.