The latest report, "Workplace Ecosystems of the Future", uncovers agreement among leaders, including investors with just under $900B in assets under management, occupiers representing $574B in annual revenue, and business improvement district (BID) executive directors in major U.S. markets, containing over 350 million square feet (msf) of office space.
Key findings indicate:
- The future is HYBRID, and 100% remote will be rare. We’ve seen hybrid cars, and hybrid schools, and data indicates hybrid work will now more than double, while “remote first” models will remain the same (approximately one-in-ten). Entirely remote structures will be the exception not the norm.
- Real estate location priorities won’t change. Walkable submarkets in both urban and suburban setting will be more important than ever in a hybrid world where people are in the office less frequently and are looking for office surroundings to provide what they cannot get working remotely.
- Real estate industry culture and flexibility will fundamentally change, as organisations and tenants increasingly require shifting property needs annually - vs. a standard 5 to 10-year basis.
- Flexibility requires active management. Cushman & Wakefield research shows that without careful planning employees working remotely on a random or unmanaged schedule are increasingly unlikely to encounter one another. For example; if two individuals, in a workplace of 500 people, were to work remotely three days a week the chances of them being in the office at the same time would be 12%, even two days working remotely gives only a 29% chance of the two individuals being together in the office.