What does the future of work look like? A new report from the Urban Land Institute — ‘Future of Work 2020: A global real estate players’ point of view’ — may shed light on the post-pandemic world of workspace.
Takeaways include:
- 96% of respondents expect there will be more home working
- 72% expect more remote work away from the home
- 67% predict the adoption of satellite offices at the edge of cities
- 93% expect physical office space to play a key role in recruiting and retaining employees
- 53% anticipate a decrease in the office space needed by their organisation
- 81% anticipate a demand for collaborative work spaces.
The report notes that the “resulting ecosystem of workplaces will accelerate a blending of uses between residential, hospitality and office spaces” and could even trigger a shift in language, from ‘office’ to ‘workspace’.
Physical office space could become a hub, rather than simply a place to work, and the integration of flexible leases and coworking spaces into real estate is expected to continue further.
The report speculates these shifts may lead to “a much faster obsolescence of buildings and future significant repurposing of office buildings”.
