THE FUTURE OF WORKPLACE AND OCCUPANCY


THE FUTURE OF WORKPLACE AND OCCUPANCY

The workplace has been evolving since inception, but never so quickly as in today’s ever advancing, technologically enhanced world of flexibility and innovation. It should be expected that the workplace we know and experience today will be vastly different in a couple of years and possibly unrecognisable by 2022. How will this change come about, what will be the instigators and drivers of the change and what does it mean for landlords and occupiers?

Colliers notes that the most successful companies look at workplace strategy as a true business opportunity rather than just a design challenge. By bringing together our insights and experiences from every corner of the world, we have identified five major shifts we believe businesses need to make in the workplace over the next five years, contributing to the development of the workplace of the future.

Interested in articles like this?

 > Make someone accountable for employee engagement
 > Implement the concierge model


1. Make employee experience a core part of business strategy

The “dismantling” of the traditional office is happening as more and more businesses seek to deeply understand the needs of their people, and provide a workplace that supports them.


In a world experiencing a race to attract and retain talent, the importance of creating an effective workplace cannot be understated. For the average company, more than 80% of total costs are typically tied to people.1 This means that even modest improvements in employee productivity, engagement and satisfaction in the workplace can have significant returns on investment. Ensuring that employees remain engaged and inspired positively impact the productivity of an organisation.

 > Leverage reactive and proactive technology


2. Build the Internet of Workplace

So what will the office look like in 5 – 10 years considering the full-steam-ahead charge of the Internet of Things? The Internet of the Workplace will be a key element to benefiting the way in which we all work. It could well be about tapping into a higher plane of social interaction and productivity between colleagues -- some many steps further from what we see and value today regarding collaboration. 

Today, we see the “Internet of Things” (IoT) or the internet-fuelled connectivity integration primarily at the building level, with owners and property managers using technology to gain insight into the way spaces are used. The next step will be translating technology-fuelled insights to the personal level in the workplace. 

 > Promote preventive wellness programmes and initiatives
 > Make technology a true enabler of wellness
 > Review the “Workplace Wellness Checklist”


3. Create a workplace that makes people healthier

With the fast adoption of WELL Building Standard™ guidelines within new developments, the wellness of the greater workplace has become key. It is no secret that a healthy workplace and workforce leads to healthy revenue numbers. The facts and numbers that are available today regarding the benefits of a healthy workplace as well as the attraction and retention benefits illustrated by employees speak for themselves - fewer sick days, higher energy and greater consistency amongst employees means that productivity increases.

Businesses know that wellness in the workplace is important but many are exploring how to get it right. 85% of businesses said wellness ranked at the top of all company initiatives due to employee demand and competition with peers. Yet, our study showed that companies are struggling to quantify the benefits of wellness in the workplace and focus their efforts — even as they are faced with wellness-related challenges, from rising health care expenses to the drain on productivity caused by stress and illness.

 > Determine “core” versus “flexible” spaces
 > Offer flexible space and flexible leasing terms
 > Go back to nature to increase well-being
 > Consider new lease accounting rules


4. Ingrain the coworking mentality in real estate strategy

Coworking, or just working? We foresee the “co” will be dropped in time as this trend clearly escalates to be the norm. The benefits of optimally utilising costly corporate premises are clear, but there is still some friction regarding adoption throughout all industries,  departments and generations. Time will help to evolve the way the coworking space becomes more prevalent and essential to the way we all work.

Initially, coworking was simply a term for the use of a shared workspace that businesses (many of them individual entrepreneurs or small startups) could use on flexible terms, working in close proximity and often collaborating with one another. But today, the model is much more complex, nuanced and applicable to a wide variety of businesses. As a result, we like to refer to this concept as “flexible workspace" and the biggest shift in the coming years is that flexible workspace will become a key component of many companies’ real estate strategies — occupiers and building owners alike.

 > Implement agile workplace concepts
 > Plan for multi-functional space


5. Enable an agile organisation


“Agile” working is revolutionising offices all over the world. Due to changing client demands, quickly shifting environments and evolving technologies, more and more organisations are starting to rethink their existing structures where dedicated teams with certain expertise work on specific products or services for clients.

They are applying more focus on collaboration between teams and breaking down silos, while bringing diverse expertise and backgrounds together to better serve clients. The result is a heightened focus on the larger business eco-system instead of a focus on developing single, standalone products. This is where agility comes in. The agile organisation focuses on flexibility, viability and collaboration which has a direct impact on work environment requirements and workplace design.


ACTIONABLE IDEAS FOR
THE FUTURE OF WORKPLACE
AND OCCUPANCY

1. Make employee experience a core part of business strategy
> Make someone accountable for employee engagement
> Implement the concierge model

2. Build the “Internet of Workplace”
> Leverage reactive and proactive technology

3. Create a workplace that makes people healthier
> Promote preventive wellness programmes and initiatives
> Make technology a true enabler of wellness
> Review the “Workplace Wellness Checklist”

4. Ingrain coworking mentality in real estate strategy
> Determine “core” versus “flexible” spaces
> Offer flexible space and flexible leasing terms
> Go back to nature to increase well-being
> Consider new lease accounting rules

5. Enable an agile organisation
> Implement agile workplace concepts
> Plan for multi-functional space


 

Subscribe and Download

Fill in the form to download the paper

SUBMIT