It would seem that our co-workers share the same opinion. We have a mixture of cubicle farm and closed offices which are augmented by some rather nice meeting rooms. We use these meeting rooms for most of our collaborative work. Incorporated into the design of these rooms is floor-to-ceiling glass and sweeping views of the surrounding landscape.
I find that even though the cubicle setup can be uninspiring for a lot of people, it can be offset by having common areas that are more humane in design. Having people gather at a place that nurtures creativity and communication gives them an opportunity to gather ideas. They can take these back to their working spaces to tinker with them in their own space and at their own speed.
Unfortunately, the bean-counters like the idea of having inexpensive walls and furniture that can easily be reconfigured or relocated. Cubicles will stay but a smart facility manager will have meeting room sanctuaries so as to enable different modes of collaborative teamwork methodologies. They can be inexpensive to design and furnish and thus satisfy the accountants.
Leave the cubicles in place but give your people a comfy den in which they can happily brainstorm together.
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