LiquidSpace - Telecom CRE Savings Case Study

The Challenge

After implementing a 3-day in-office policy to foster collaboration, the traditional real estate model proved inefficient. Larger offices saw reasonable attendance, but many smaller regional offices were vastly underutilized. This highlighted the need for a more strategic and data-informed approach to real estate optimization that aligned with employee behavior and business goals.

• Large offices:

  Average attendance: 70% Tuesday–Thursday, 50% Monday, 25% Friday.
• Small offices:
  Employees in field roles rarely used dedicated spaces in regional offices, resulting in significant waste and missed opportunities for optimization.
  
  

The Solution

The company reimagined its real estate strategy to balance reducing waste with encouraging purposeful employee gatherings through a bold hybrid transformation:

• Reduce real estate waste:

  Closed underutilized small offices, cutting unnecessary overhead and redirecting resources.

• Give choice:

  Provided employees access to a pre-approved network of 403 on-demand workspace venues nationwide, ensuring flexibility and accessibility.

• Leverage data insights:

  Equipped real estate leaders with actionable, data-driven insights to optimize the portfolio and make smarter decisions about space allocation.

• Focus on purpose:

  The transformation wasn’t just about cutting costs—it was about fostering meaningful collaboration. Employees were empowered to gather in spaces tailored to specific projects and goals, moving beyond the limitations of fixed offices.

This shift created a more adaptable, efficient, and collaborative workplace, better suited to the needs of both the company and its employees.

We closed a large number of small field offices, and we gave employees a tool that enabled them to meet when, how, and where they need to and want to...and saw 80% cost savings.

- Senior Director of Corporate Real Estate Strategy

The Results:

The impact was swift and significant:

• Booming collaboration:
  Over 4,000 team gatherings in just seven months demonstrate the power of intentional, purpose-driven workspace utilization.
• Cost savings soar:
  An 80% reduction in real estate costs significantly bolstered the company's bottom line.
• Zero real estate waste:
  Every square foot was optimized, eliminating unnecessary overhead.
• Empowered and productive employees:
  Choosing workspaces based on their needs boosted engagement and productivity.