The search for flexibility and desire for less commute time to work have increasingly influenced job choices in the recent past, according to a report by global consultancy firm CBRE. So, it has become imperative for companies to invest in features that enhances work environment and make offices attractive to employees. CBRE’s Global Live-Work-Shop 2022 report has recommended some of the ways to consider for both occupiers and investors in order to accommodate this growing need for flexibility, work-life balance and greater autonomy among employees. We list down few of the key ones here.
Using offices to drive engagement
Maintaining a work-life balance is finding growing interest in the overall job searches of employees. Around 40% of respondents said they considered the companies’ overall commitment to a healthy work life as well as the timing and location of work when evaluating new job opportunities. Even as salary is still the top criteria, flexibility in its various forms is gaining significance in job selection by employees, the report said. It has also pointed out that flexibility is linked to improved sentiment toward work and is seen as benefiting productivity, well-being and connectivity. As a result, the CBRE study recommends that occupiers must recognise the close links between trust gains, flexibility and positive work sentiment in portfolio and workplace planning.
Choosing the right real estate and adjusting investment
In order to improve productivity, well-being and connectivity of employees, occupiers should select real estate that users value the most. They “embrace both building choice and the design and configuration of space to support employee flexibility across all work environments.” At the same time, as most companies gear towards hybrid model as a long-term strategy, investors also need to redirect investments toward assets possessing the above favourable user characteristics.
Prioritize accessibility
As per the report, workers with short commutes are more likely to be satisfied with the quality of their office, including internal amenities than those with longer commutes. It recommends “occupiers to give greater priority to buildings with proximity to public transit and/or parking.” Buildings that lack these attributes, landlords should explore enhancing building connectivity services to ease the burden on tenants and employees. It recommends occupiers to seek suburban flexible office locations to suit the needs of employees who want to work closer home. Investors across a range of asset types could also consider adding flexible offices or drop-in- space as part of wider amenity offerings.
Invest in improving the office
Occupiers must invest on the designs, technologies, services and amenities that improve the quality of the work environment and that make the office desirable for employees. While attention should be given to the needs of hybrid and younger workers, investors should also focus on the highest quality properties and enhance their assets to remain competitive, the report pointed out. Landlords should also partner with major tenants to explore new ways of creating high quality work environments to support income and occupancy levels. This could be through design enhancements and provision of favoured amenities, it said.
