Last year was a time of massive transformation, and 2021 will be no different as companies take lessons learned over the last several months and apply them to the new future of work.
With vaccines being distributed worldwide, there finally seems to be a light at the end of the tunnel. However, while employers and employees will be eager to return to the office in some manner, it won’t happen overnight.
Many people still want flexibility in their work schedule moving forward, which may come in the form of splitting their time between the office and working from home.
With this demand for flexibility, coworking spaces will position themselves to accommodate hybrid work models.
Additionally, the office will take on a new role in how it functions within a company’s operations. Although some people have claimed that the office is dead, it will more likely become a hub for collaboration. Workplace amenities that focus on wellness, teamwork and innovation will become the central focus.
As demand grows for a more hospitable office, real estate leaders will also be forced to reconsider how they outfit their buildings. Understanding how to reconfigure their buildings to accommodate the new needs of tenants will be crucial in 2021.
Along with the alterations to come to building design and amenities, business models will also be changing. Instead of traditional long-term leases, landlords will be more accepting of management agreements.
Through this arrangement, landlords will share profits with operators, who have the responsibility of managing the space. In doing so, the risk revenue losses decreases for all parties.