Given that real estate is the second largest expense for companies after payroll, it is essential that periodic investment in the workplace is well judged. However, companies currently lack tools to help them decide how the workplace can support their competitive strategies and at what frequency they should aim to renew their offices. Case study analysis finds that there are examples of significant changes in performance that can be traced to change of workplace and that the management processes that accompany these successful projects had a critical moderating role which in many respects were as important as the attributes of the new space. These positive effects diminish over time and therefore businesses should consider a major new investment in offices every four years. A tool is suggested to help companies decide how and when a workplace renewal programme should be initiated to promote a step-change to their performance and competitive positioning.
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