What's the REX Score?
The REX Score, a product of HqO’s new Intelligence product suite, is the quality measure of end-user experience within a physical space, reflecting employees’ workstyles, preferences, and overall satisfaction. Generated through data from HqO’s REX Assessment, the Score shows how engaged tenants and employees are within a property. The higher the number, the more positive the real estate experience, which directly correlates to how likely a property is to achieve high occupancy, attract and retain tenants, and generate revenue.
How do you get your REX Score?
The first step to generating your REX Score is to distribute the REX Assessment to your tenants. Based on the proven methodology of Leesman, an HqO company and the industry’s most trusted workplace experience data source and benchmarking framework, this 10-minute survey quantifies employees’ workstyles, preferences, and overall satisfaction within a physical space. Questions are broken out into three categories:
- Impact: assess the impact the workplace has on various aspects of the organization.
- Activities: assess how important workplace activities are to the employees and how well supported they feel when doing them.
- Features: assess the importance of service and physical features in the workplace and how satisfied employees are with them.
Then — once a statistically significant number of assessments have been completed, your property will receive a REX Score. HqO REX experts are available to help you understand your REX Score and create a REX strategy for improving the score and related experiences.
Ready to get started? Speak to an expert →
How do you get your REX Score?
The first step to generating your REX Score is to distribute the REX Assessment to your tenants. Based on the proven methodology of Leesman, an HqO company and the industry’s most trusted workplace experience data source and benchmarking framework, this 10-minute survey quantifies employees’ workstyles, preferences, and overall satisfaction within a physical space. Questions are broken out into three categories:
- Impact: assess the impact the workplace has on various aspects of the organization.
- Activities: assess how important workplace activities are to the employees and how well supported they feel when doing them.
- Features: assess the importance of service and physical features in the workplace and how satisfied employees are with them.
Then — once a statistically significant number of assessments have been completed, your property will receive a REX Score. HqO REX experts are available to help you understand your REX Score and create a REX strategy for improving the score and related experiences.
Ready to get started? Speak to an expert →
Why do you want your REX Score?
1. Attract & Retain Tenants
The higher a property’s REX Score, the more it is meeting the expectations of its occupants. In turn, satisfied tenants are more likely to stay and renew their leases, and similarly, positive end-user experiences attract new tenants. In essence, a high REX Score positions owners and operators to meet and even exceed their occupancy goals.
2. Generate Revenue
A property with a high REX Score is likely to have better revenue potential, as satisfied tenants are more likely to pay higher rents. Additionally, the property’s reputation may attract new tenants, making it a more sought-after property, allowing for higher new rent rates. And finally, retaining existing tenants reduces the associated costs of finding new tenants.
3. Get Your Property on the REX Index
Every REX Score will be added to the REX Index (REXi), the industry’s first global real estate user experience indicator, benchmark, and tool for certifying and exploring properties through the lens of people’s experiences. When it launches in 2024, REXi will allow tenants to measure and compare the buildings or spaces they lease against the best in the world. Landlords with low scores or not on the REXi at all will be missing a major opportunity to set themselves apart from the competition, and may get overlooked during the leasing and renewal process.
4. Get on a Best Spaces to Work list
Properties that have a REX Score that meets or exceeds the global industry benchmark will be named on the Best Spaces to Work list of their city, in turn certifying them as a “Best Space to Work”.
The competitive edge you need to meet your business goals and stand apart from your competition — being a certified Best Space to Work in Boston has proven to help retain and attract tenants and allow CRE leaders to see how their space stacks up against the best in the city.
HqO’s REX Platform
The REX Score is just a piece of HqO’s new REX Platform – an asset-agnostic, cross-property suite of powerful applications and services that foster best-in-class, dynamic end-user experiences. The platform assesses the health and performance of a customer's experience within a physical space, while providing the necessary tools for operators to manage and optimize it, all from one central location.