By Chris Kim
In March 2020, CBRE released a research report exploring 10 ways in which we'll experience real estate differently in 2030. It highlights the profound impact of a wide range of changes ― social, cultural, demographic, economic and technological ― and the need for building managers to respond quickly and flexibly to the changing needs of the occupants.
Among other things, the research predicted that "the end of fixed workplace attendance will unlock productivity growth and personal creativity," and that "nearly all employees will be mobile and require a network of locations to make them as productive and engaged as possible."
Soon afterwards, we were faced with massive levels of mandated government protocols requiring companies to close offices and enforce remote working worldwide to comply with guidance on social distancing. Has this enormous experiment in remote working changed the game? More importantly, what future opportunities does this present to organizations and their employees in the longer term?
In the short-term this is clearly causing significant economic damage. While the longer term global economic impacts are harder to predict, the unprecedented stay-at-home orders severely affected nearly all industries and real estate sectors worldwide.
We are facing a critical moment in our history that has the potential to re-shape our work practices, interaction preferences and attitudes toward technology for decades to come. Over the last weeks we have the seen the mass adoption of remote working as organizations have been forced to take their workforces virtual. That said, the current reality of remote working for many employees is far from ideal with many juggling family and work commitments under one roof. Once social distancing restrictions are lifted, organizations will be asking: What have we learned? And what will we now do differently?
The need for teams to spend time together will always be a crucial component of work. However, we will find that for some teams, their dependency on the office will be reduced, and some will want to continue working regularly from home. This will cause us to be more deliberate about why and when we go to the office. Regardless, companies will still need to make their offices a preferred destination. The new patterns around office occupation will likely mean that organizations re-think their space needs, consider alternative work styles leveraging effective online collaboration practices, help to accelerate work cycles and make workers more productive.
Organizations will test the balance between working from the office and other remote working locations, thus rethinking the role the office plays in enabling work.
This will be driven by a convergence of trends: changing attitudes to location-independent working combined with pressure on organizations to reduce their operating costs. A recent study by Gartner underlines this, indicating that 75 percent of CFOs they have spoken with are considering a mild to significant increase in remote working in the future.
Organizations will approach remote working sensitively as it will be a delicate topic for managers and employees alike. Success will rest on thorough due diligence; clear, honest and consistent messaging; and a program of support addressing personal health and wellbeing, the financial cost, ways of working, technology and culture.
The focus will be on setting up the right technology, culture and expectations to make the office-to-home experience seamless and ensure employees can maintain productivity and engagement no matter where they are.
Organizations would be wise to not view workplaces in a binary capacity ― home or office ― as we see there being a much wider range of possibilities and combinations. As highlighted in the CBRE's report on "The Age of Responsive Real Estate," they should look to create a mixed reality, providing employees with a portfolio of technology-enabled solutions and locations to work where and how they choose.
Chris Kim is Head of Workplace Strategy at CBRE Korea, the world's largest commercial real estate services and investment firm. Reach him at Chris.Kim@cbrekorea.com
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Among other things, the research predicted that "the end of fixed workplace attendance will unlock productivity growth and personal creativity," and that "nearly all employees will be mobile and require a network of locations to make them as productive and engaged as possible."
Soon afterwards, we were faced with massive levels of mandated government protocols requiring companies to close offices and enforce remote working worldwide to comply with guidance on social distancing. Has this enormous experiment in remote working changed the game? More importantly, what future opportunities does this present to organizations and their employees in the longer term?
In the short-term this is clearly causing significant economic damage. While the longer term global economic impacts are harder to predict, the unprecedented stay-at-home orders severely affected nearly all industries and real estate sectors worldwide.
We are facing a critical moment in our history that has the potential to re-shape our work practices, interaction preferences and attitudes toward technology for decades to come. Over the last weeks we have the seen the mass adoption of remote working as organizations have been forced to take their workforces virtual. That said, the current reality of remote working for many employees is far from ideal with many juggling family and work commitments under one roof. Once social distancing restrictions are lifted, organizations will be asking: What have we learned? And what will we now do differently?
The need for teams to spend time together will always be a crucial component of work. However, we will find that for some teams, their dependency on the office will be reduced, and some will want to continue working regularly from home. This will cause us to be more deliberate about why and when we go to the office. Regardless, companies will still need to make their offices a preferred destination. The new patterns around office occupation will likely mean that organizations re-think their space needs, consider alternative work styles leveraging effective online collaboration practices, help to accelerate work cycles and make workers more productive.
Organizations will test the balance between working from the office and other remote working locations, thus rethinking the role the office plays in enabling work.
This will be driven by a convergence of trends: changing attitudes to location-independent working combined with pressure on organizations to reduce their operating costs. A recent study by Gartner underlines this, indicating that 75 percent of CFOs they have spoken with are considering a mild to significant increase in remote working in the future.
Organizations will approach remote working sensitively as it will be a delicate topic for managers and employees alike. Success will rest on thorough due diligence; clear, honest and consistent messaging; and a program of support addressing personal health and wellbeing, the financial cost, ways of working, technology and culture.
The focus will be on setting up the right technology, culture and expectations to make the office-to-home experience seamless and ensure employees can maintain productivity and engagement no matter where they are.
Organizations would be wise to not view workplaces in a binary capacity ― home or office ― as we see there being a much wider range of possibilities and combinations. As highlighted in the CBRE's report on "The Age of Responsive Real Estate," they should look to create a mixed reality, providing employees with a portfolio of technology-enabled solutions and locations to work where and how they choose.
Chris Kim is Head of Workplace Strategy at CBRE Korea, the world's largest commercial real estate services and investment firm. Reach him at Chris.Kim@cbrekorea.com
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