Sustainability – The Essence of 21st-Century Workspace
From being a premium alternative to becoming an undeniable growth asset, sustainability has evolved significantly in the real estate industry. One of the key drivers of this change is the younger workforce that has a strong inclination towards sustainability. This transformation is manifesting more sustainable actions at workspaces.
1. Green construction
The increasing demand for energy efficiency is a testimony to the cataclysmic change on the construction front. Green certified buildings are growing in number with certifications like LEED, IGBC, etc. Green construction involves a holistic sustainable approach that includes site development, material quality, energy and water efficiency, indoor air quality, and greenhouse gas emissions.
2.Improved work environment
A sustainable workspace is quintessential for employee wellbeing and growth. In fact, a sustainable workspace is now considered a tool to enhance productivity. A Deloitte study entails the positive impact of temperature control, ventilation, design, and natural light on productivity.Improved workspace leads to reduced respiratory diseases, allergies, and Sick Building Syndrome.
Sustainability is as much about social accommodations as it is about environmental impacts. With young employees taking charge, there’s a shift towards communal workspaces. They prefer working in close proximity as it facilitates communication and collaboration. Modern leaders are cognizant of this and are reshaping the workspace to introduce the hybrid concept.
A sustainable culture is one where sustainability is imbibed at an organization’s core. According to a Columbia University study, companies with a high work culture had a turnover rate of 13.9% and those with low cultures observed a 48.4% turnover rate. Sustainable culture enables transparency, supportive leadership, and employee wellbeing, thus, propelling the firm towards accelerated growth.
There is no question that sustainability is fundamental for both long-term values and short-term profitability. Its adoption is increasing rapidly and organizations prioritizing sustainable choices will undoubtedly witness long-term growth.