4 Essential Components For Attracting Tenants In A World Of Co-Working And Super HQ's

One of the biggest challenges in business is attracting and retraining top talent, especially if you're not a big employer but have the potential to get there with the right people. 

At Dublin's State of The Market Event on 21 March, attended by more than 500 senior Irish property professionals, landlords and occupiers talked about the four things that companies look for in an office space to create the right culture for their employees.

1. Wellness

"There is a real evolution in how companies are working," Hibernia REIT Chief Execuitve Kevin Nowlan said.

He said companies that take smaller space are taking a lead from tech companies and what they are offering to their employees.

"What we've been trying to do is give you the same type of facilities that you would get if you went to work for Google or Facebook or Twitter."

One of the first things that was identified was wellness, which is an essential part of attracting talent nowadays, as employees increasingly look at how their working environment affects physical and mental health, according to Nowlan.

"Gym space and the quality of it is massively important," he said.

2. Flexibility

Twitter's Head of Real Estate Sean Boyle said landlords need to be flexible and help realise the occupier's goals. Twitter worked closely with Hibernia when it agreed its lease on Cumberland Place to ensure this flexibility, allowing it to personalise its space. 

"Luckily we were able to marry that ambition and that ability to be flexible to align our overall objectives," he said. "We don't have another example of that in our global portfolio."

3. Communal Space

Nowlan believes this is key for small companies who are looking for office space.

"What you're going to see in the developments of the future is a lot more communal space and what we've also found is that tenants are willing to pay rent on it if it's of a really high standard."

This allows companies to take on other projects and staff without committing to more space, according to Nowlan. 

The higher density adds to the culture and vibrancy of the offices, which is characteristic of tech companies and co-working offices.

4. Food and Beverage

The food and beverage offering is something tech companies are famous for.

If traditional landlords want to compete with co-working spaces and tech companies, then this has to be of a high standard, according to Nowlan.

"If you combine all of these things together you end up creating a neighbourhood where people want to work and stay and basically hang out in a much more informal way," he said.