Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Jonathan Price – CRE & Flex Expert
After downsizing its office footprint by two-thirds and selling its Chicago headquarters, Allstate Corp. has found that even remote workers need occasional in-person collaboration.
In response, the insurance giant is offering a hybrid approach for its 54,000 corporate employees, allowing a quarter of them in cities like Atlanta, Tampa, and Minneapolis to reserve coworking spaces through LiquidSpace, a platform that provides on-demand offices.
While some companies are pushing employees to return to the office, Allstate reports it is striving for a balance. The company aims to maintain flexibility while avoiding the inefficiencies of employees commuting to workspaces only to spend most of their day in virtual meetings.
“We’re building something new,” said Lauren DeYoung, Allstate’s “workplace futurist” leading the company’s workplace transition.
According to the Insurance Journal, Allstate has cut its corporate office spending from $382 million in 2020 to $138 million in 2024, signaling a clear departure from pre-pandemic office norms. With fewer cubicles and more collaborative spaces, the company is reimagining its office layouts to accommodate both focus and teamwork.
In a recent meeting at a coworking space in downtown Minneapolis, employees shared the value of face-to-face interactions after spending months working remotely.
They expressed that while they appreciated the company’s remote-first policy, they missed the informal office conversations and team bonding. This realization has led to more in-person meetups, such as charity runs and happy hours, as workers look to reconnect with colleagues outside of Zoom meetings.
Allstate’s move toward coworking spaces highlights the broader shift in the corporate world, where companies are downsizing office space due to the rise of remote and hybrid work.
According to CoStar Group, businesses now occupy 210 million fewer square feet of office space compared to 2020, and coworking spaces have seen a significant rise in popularity.
By partnering with LiquidSpace, Allstate is able to provide flexible, on-demand meeting spaces without the long-term commitment of traditional office leases.
In cities like Atlanta and Minneapolis, where the employee base doesn’t justify a permanent office, coworking memberships are a cost-effective solution. This approach offers employees the flexibility to collaborate in person when necessary, while also maintaining the remote work options that have become the norm in many industries.
Allstate’s shift toward coworking and flexible workspaces signals a significant transformation in how modern businesses approach office real estate and employee collaboration.
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