The Impact Of Remote Work On Office Footprint

I've been following and reading the trends in workplace strategies these days and there appears to be a consensus forming. Many enterprise companies are signing shorter lease terms for smaller spaces. Most companies today are only considering current head counts and not future growth. Many companies, small and enterprise groups are considering flexible workplace solutions in order to satisfy employee productivity levels. This includes shorter commute times and providing a better workplace experience. Companies are seeking ways to elevate the workplace experience by offering flexibility and choices for where their employees meet. Technology has been a friend to companies seeking new ways of engagement and ways to monitor activity and utilization. Many enterprise groups who choose flexible workplace options, like T-Mobile and Verizon and Standard Chartered all were able to reduce their physical foot print and save significant capital on their leasehold obligations, but most importantly, they experienced higher productivity levels from their employees. Leaning into employees concerns about work-life issues pays huge dividends too. With a slowing economy and a challenged office market in many US cities, more landlords today are contemplating offering flexible workplace solutions in order to capture these companies and satisfy the space requirements for their needs. Flexible Workplace Solutions is all about satisfying the needs of today's workforce. By removing the physical barriers between companies in office buildings and bringing them all under one premise can be sustainable to cost effective in delivering workplaces for companies. But more importantly, through creative design and incorporating hospitality features in the workplace, flex office is a way to elevate the workplace experience and monetize space through a variety of revenue generating activities. Demand for flex office is growing and landlords can learn new ways to activate their buildings and add value to their offerings.

I've spoken to 4,000+ companies about remote work since March 2020 Here are the most common things I've heard 👇 1. 🏢 HQ Obliteration: Return to office has stopped, companies have cut back the real estate they could, and will cut a lot more as leases expire. The majority of workers will work remotely at least part-time and the amount will grow 2. ⭐️ Access talent: The first reason they are going remote-first is simple – it lets them hire more talented people. Rather than hiring the best person in a 30-mile radius of the office, they can hire the best person in the world for every role 3. 💰 Cut costs: The second reason is because it makes them more cost-efficient. Rather than spending $10K-$20K per worker a year on office space they can provide a worldclass remote setup for less than $1,000 a year 4. 🌐 Universal problems: doesn’t matter the size of the organization, every company is dealing with the same thing. How do we operate as a global business? Equipping teams and managing assets is a huge pain point 5. 🏭 ESG Considerations: many companies care massively about the environmental impact eradicating the office – and the commute – has. 108 million tons of Co2 less every year. Boards are looking here as well 6. ❤️ Quality of life: companies also know they don’t need workers to waste 2 hours a day commuting to sit in an office chair for 8 hour. Companies have seen reducing commute frequency leads to happier more productive workers 7. 🚀 Outcomes vs. Time: the measure of performance in the office is how much time you spend sat in your seat. The measure of performance while working remotely has to be output. Companies are moving slowly here 8. 🎡 Hybrid Conflict: what companies and workers think hybrid means are two different things. Workers think it is being able to work remotely whenever they want. Companies think it is telling workers when they must attend. Big problem 9. 🛑 Bad Software: companies continue to use software and tooling designed for in-office teams causing issues for distributed workers. New tools developed by remote-native startups are emerging but not being adopted fast enough 10. 🔐 Tech & Security: in the old world the edge from a security perspective was the office, now it's every device. This creates big security risk and vulnerabilities as devices are lost. Companies lack good solutions