16 York LEED and WELL-certified
Julie Phillips, president and partner atĀ Flat Iron Building Group Inc. ā which constructed IMCOās new office space ā told RENX workers have been apprehensive about returning to staid, stuffy offices after several years of working comfortably from home. Sheās unsurprised.
Thatās why it is no coincidence IMCO choose the 33-storey, 800,000 square-foot 16 York to house its new offices, because itās both LEED Platinum and WELL Institute-certified. Not only is that important for both a companyās ESG score and reducing its overhead, itās a recruiting tool.
And while innovative corporate cultures and office designs are inducements, large companies like IMCO are sweetening the pot by taking advantage of vacancies in prime locations like 16 York.
āItās super accessible to Union Station for people to commute in,ā Phillips said.
āWith these new buildings, from an air-quality perspective and from an amenities perspective ā whether that be parking or bike facilities or nearby restaurants ā thereās a flight to quality right now where people are looking to new buildings, especially with vacancy rates being where they are.ā
IMCO office decision provides dual benefits
Employers like IMCO have also used the turbulence caused by COVID-19 to make fiscally sound decisions. In consolidating three offices into a single headquarters, IMCO has cut unnecessary costs, Phillips said.
āIn addition, it is the way people can flow between departments and share a single lunch room, multiple collaborative spaces and meeting rooms, one reception, one quiet area, rather than separate amenities in three separate places,ā she added.
Moreover, unlike earlier in the pandemic when workers enjoyed leverage afforded by a hiring boom fuelled by low interest rates, labour conditions are no longer as tight, turning the tables back in favour of employers.
However, high interest rates havenāt just curbed new job creation. They have also ā as seen in Canadaās tech sector that shed 160,000 jobs in 2022 and 100,000 more during the first six weeks of 2023 ā forced some companies to downsize.
āA lot of companies were told staff who didnāt want to go into the office would quit and would be difficult to replace, so that was the motivation to let people keep working from home. That was the case 12 to 24 months ago,ā Ron Jasinski, senior vice-president ofĀ Colliersā GTA office division, told RENX.
And because, Jasinski added, companies still fervently believe employees are more productive working on-site than remotely, theyāre taking advantage of the economic headwinds. Heading into 2024, it isnāt as easy to jump ship and join another company.
āNow companies are laying people off and hiring less,ā Jasinski continued.Ā āThe pendulum is slowly swinging back the other way.ā
“The Hive”
IMCO requires its employees to be at the office at least three days a week ā but itās betting staff will like what they see when they arrive.
The firm hiredĀ SDI DesignĀ to design the office and conceptualize its culture. Themed āThe Hive,ā IMCOās 16 York head office is inspired by the egalitarian nature of beehives, spurning surfeit executive suites in favour of these types of workspaces.
āEven from CEO down, not having private offices in some environments, it got accentuated even more during COVID,ā Phillips said.
āWhy come to an office if youāre sitting with your head down at a desk, crunching numbers? You should be coming to an office because you need to work with a team, because you need to collaborate, because you need to engage.
“Itās not as effective to work in an office if all youāre doing is working by yourself.ā
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