Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.
Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.
As hybrid styles of working become the norm across most Australian offices, Mirvac has launched a new discussion paper outlining the need for an update to the outdated metrics defining office space – one that advocates a shift from efficiency-based metrics to experience and human-centric metrics.
Why should we rethink our current metrics?
The global pandemic has impacted the future of work, with organisations quickly adopting remote and hybrid ways of working. The purpose of office property has shifted, so the days of basing office value on the old metric of headcount per square metres of space are gone. The question we need to consider is how do we measure the intangible value – like learning, brainstorms, collaboration, connection, culture and innovation – that a next generation workplace facilitates for an organisation?
How can we adapt learnings from other sectors to consider alternative metrics?
Sectors like hospitality, exhibitions, airlines and retail have moved away from traditional valuation models towards a more rounded understanding of value based on experiences or customer service. In this new era, the office needs to attract employees as part of a wider ecosystem of places both virtual and physical, where curated experiences and adaptable workplaces will be key. People will come to the office for a better experience than they can get in alternative work settings and there will be a premium based on service and amenity.
Mirvac’s findings have been captured in a discussion paper, in partnership with the WORKTECH Academy.
The paper is entitled From space centric to human centric; Exploring new valuation metrics for the new workplace and it is available to download now.
Global and local experts consider what should be included when evaluating workplaces in 2022, from experiences, business performance, shared value and employee wellness to Environmental, Social and Governance (ESG) – ultimately providing insight into the future of the workplace.