A new survey by NCG, a workspace provider, reveals a surprising trend in UK businesses’ workspace preferences. While competitive pricing remains a factor, access to high-quality technology has emerged as the top priority for decision-makers, with nearly a third (31%) citing it as a key influence in their workspace selection.
The nationally representative survey of 1,002 senior decision-makers found that factors like events and networking opportunities (31%) and the design and quality of the workspace (28%) also ranked higher than price (25%) when choosing a flexible workspace.
Furthermore, over half (55%) of businesses indicated a willingness to pay a premium for a top-tier workspace, aligning with current market trends that see high-quality office spaces commanding a significant share of lettings.
However, despite the emphasis on technology, the survey paints a concerning picture of the current state of workspace tech. Only 10% of respondents rated their workspace’s tech offering as “very good,” with a further 36% describing it as “good.” Disappointingly, half (50%) reported experiencing regular tech failures in their workspaces.
The survey also suggests a correlation between tenant satisfaction with workspace tech and retention. Businesses with a positive assessment of their workspace technology were significantly less likely to consider moving (57% vs. the average 76%), highlighting its importance in retaining tenants.
“The message is clear,” said NCG (quote about the importance of prioritizing high-quality tech). “Landlords and operators who want to attract and retain the best tenants can no longer afford to cut corners on technology. Investing in a first-class tech experience is essential to command premium rents and stay competitive in today’s market.”
The report recommends partnering with digital infrastructure specialists to bridge the gap between tenant expectations and current offerings. These specialists can provide strategic guidance on integrating the right technology throughout the entire workspace lifecycle.
The full NCG report can be found at www.ncg-global.com/flex-report.
