The HR Digest - July 2018

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For employers, office space is the biggest office expense. Most companies waste a fair amount of their office space. A study on how people are using existing office space ‘actual use of space’ noted that employees on an average use only 50% of the available workspace, with the company spending $4,00o to $7,000 per year for each workspace. The rise of self-employment, remote employees, and sky-high office costs has fueled demand for shared office space in business districts like Financial District in Manhattan and San Francisco. A handful of companies are redesigning their existing, unused office space to offer a more flexible solution to employees. This new trend reflects The Third Place environments, where employers are keen on offering additional perks for employees to get out of their cubicles and enjoy their work without the hassle of a lease.

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