Despite the decline of geographical borders in the workplace, 72% of business decision makers agree that having an office is essential for business.
According to JLL’s most recent Future of Work Survey, hybrid work models will inevitably become the more popular arrangement in the future, leading companies to rethink how they approach their real estate footprint.
“The next three years will prove to be an inflection point for real estate as businesses plot their future path and rethink the purpose of their portfolio,” said Dr. Marie Puybaraud, Global Head of Research at JLL Work Dynamics.
“The changes accelerated by the pandemic represent an opportunity to pause, think about a long-term real estate strategy and how it aligns with future business priorities.”
Over three-quarters (77%) of commercial real estate leaders stated that offering alternative work models is critical to attract and retain top talent.
However, it also means that how the office itself looks will need to be adjusted. In fact, 43% of companies stated that converting their office footprint will likely include investments into flexible office spaces. This is particularly important for collaboration, which can be difficult to sustain with a distributed workforce.
“Enhancing socialization, especially among a large, often geographically dispersed, workforce will be critical to future talent strategies, as the office accelerates its role as the innovation hub of the work ecosystem,” said Cynthia Kantor, Chief Client Value & Growth Officer at JLL Work Dynamics.