JLL's Future of Work Survey shows that while hybrid work is
here to stay, the office remains critical to business
operations
CHICAGO, Aug. 18,
2022 /PRNewswire/ -- As businesses continue to evolve
their workplaces to best meet the needs of their employees, JLL's
(NYSE: JLL) global Future of Work Survey finds that 72% of decision
makers believe the office is critical to doing business. The
research shows that over the next several years companies
anticipate hybrid work to become the dominant model and will be
looking across their real estate portfolios to re-think their
office spaces, invest in new technology and prioritize
sustainability.
"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, 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."
Rethinking the office layout to accommodate hybrid working in
the long-term
The mass adoption of hybrid work will have a lasting impact,
with 77% of CRE leaders agreeing that offering remote or hybrid
working will be critical to attracting and retaining talent in the
future. As the trend toward dynamic working will continue,
successfully operationalizing hybrid working will be the most
important strategic priority for commercial real estate (CRE)
executives over the next three years. This includes exploring
flexible space options, with 43% of companies planning to
accelerate investment in flexible space between now and 2025, and
51% saying they will lease flexible space through a third-party
provider.
"As the office finds a new purpose post-pandemic as a
destination for collaboration in employees' hybrid workstyles,
occupiers will need to continue increasing their investments in
creative spaces," said Cynthia Kantor, Chief Client Value
& Growth Officer, JLL Work Dynamics. "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."
Forty-five percent of organizations consider collaboration to be
one of the primary purposes of office space and 73% have planned or
are planning to make all office spaces open and collaborative, with
no dedicated desk spaces. Many companies are also investing in
spaces that support new workforce priorities around health and
wellbeing.
Environmental and social aspirations will shape future
portfolio transformation
As organizations face ever increasing pressure to deliver clear
outcomes in the race to net zero and create social value
through real estate, 77% say investing in quality space is a
priority. With green strategies having a direct impact on real
estate decisions, 74% say they are likely to pay a premium for
green credentials; further, more than half of occupiers (56%) plan
to do so by 2025.
However, stakeholder aspirations are not solely environmental,
with nearly 8 out of 10 companies saying their employees expect
their workplaces to have a positive impact on society. This means
increasing investment in social considerations will be equally as
important as funding environmental objectives. With diversity,
inclusion and wellbeing now falling high on the corporate agenda,
companies are underpinning these objectives with further investment
and resources. Seventy-nine percent of respondents agree that their
organizations are acting today to make the workplace more inclusive
and diverse for all employees.
Investing in technology investments to boost workplace
performance and productivity
Technology and data will be critical foundations in the future
of successful real estate operations, but the gap that needs to be
filled is immense. Only 13% of CRE executives say they are
collecting data on an ongoing or real-time basis using advanced
analytics. With the transformative power of technology to shape the
dynamic workplace, companies are focused on ramping up investments
in intelligent solutions to unlock new opportunities for boosting
workforce performance and productivity.
The research finds a clear roadmap for CRE technology shaped
around 15 anchor technologies, including workplace apps, remote
working technology and virtual reality.1 As
organizations plan future investments, CRE leaders are focused on
key strategic areas like sustainability and employee wellbeing. By
2025, most companies (78%) plan to have incorporated over ten of
the anchor technologies in their operations, and 40% plan to
incorporate all 15.
Real estate needs are becoming more sophisticated and
complex
To respond to the complex range of future of work challenges,
CRE leaders will focus more on harnessing specialist skills to
achieve their strategic objectives. Seventy-five percent of leading
CRE functions anticipate greater reliance on external partners,
with the two top areas for outsourcing growth expected to be health
and wellbeing services (44%) and sustainability strategy (44%).
Further, as technology becomes a crucial platform to boost
performance levels on all fronts, 43% say they will need more
outsourcing support for CRE technology solutions over the next
three years.
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1 For a list
of the 15 anchor technologies, refer to p. 30 in JLL Future of Work
Survey (August 2022)
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that
specializes in real estate and investment management. JLL shapes
the future of real estate for a better world by using the most
advanced technology to create rewarding opportunities, amazing
spaces and sustainable real estate solutions for our clients, our
people and our communities. JLL is a Fortune 500 company with
annual revenue of $19.4 billion,
operations in over 80 countries and a global workforce of more than
102,000 as of June 30, 2022. JLL is
the brand name, and a registered trademark, of Jones Lang LaSalle
Incorporated. For further information, visit jll.com.
Connect with us
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Contact: Gayle Kantro
Phone: + 1 312 228 2795
Email: Gayle.Kantro@jll.com
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SOURCE JLL