Many people questioned the role of the office early in the pandemic, wondering if the unexpected global experiment in remote working would render the office obsolete.
Dominic Brown, professional with knowledge of real estate and economic trends, indicates that after gaining a greater sense of the long-term impact of the global pandemic, he found out that office demand still has high resilience in Asia Pacific.
The outlook for office demand is also positive, thanks in large part to the three following factors: growth in office-based employment, a slower uptake of flexible working arrangements, and the continuing importance of the office.
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Growth in office-based employment
Unemployment estimates indicate that labor markets across the APAC region are projected to tighten, with most posting unemployment rates at or below their respective five-year averages.
The growing mismatch between necessary business capabilities and the available labor force has fueled the fight for talent. Global research also found that 41% of the workforce is considering quitting employment during the next 12 months—during the so-called “Great Resignation.“
The essential takeaway here is that corporate occupiers should emphasize personnel retention and attractiveness in the short term while also increasing efficiency through investments in technology and real estate.
Slower uptake of flexible working arrangements
Many firms have pushed the implementation of more flexible working methods as a result of the worldwide experiment of working from home during lockdowns. However, there is still debate over the best hybrid of in-office and remote employment.
According to the data, the most important factor is to give employees the autonomy to choose where they want to work. Employers who can inspire their employees to return to the office not only improve employee experience but also drive significantly higher engagement outcomes.
Because employees anticipate more flexibility in where they work, office spaces will increasingly be constructed with an emphasis on collaborative space. However, the transition in the Asia Pacific is expected to be more restricted.
Fundamentally, this is because a larger number of employees are spending more time in the office and, as a result, require more space for concentrated work.
As a result, occupiers will likely look to landlords to provide collaboration space and wellness activities for group usage elsewhere in the property.
The continuing importance of the office
Workers have demonstrated that they can remain productive while working from home throughout the epidemic.
However, this has come at the price of other components of the work environment. Employees who joined their company within the previous year outperform longer-tenured colleagues based on Experience per Square Foot (XSF) Research, but remote work has hampered personal interaction, particularly when it comes to building professional networks and bonding with colleagues.
The problem for landlords and occupiers is to persuade employees to work in their buildings. Simply put, it will include developing amazing spaces and places—placemaking—because employees will expect and demand more than an A-grade building with spectacular views.
What does an office mean for people nowadays?
The office should serve as an important tool for maintaining and attracting personnel, as well as communicating a company’s brand and culture.
Amenities have evolved into locations for renters to work, socialize, and interact with colleagues, making them essential differentiators. Creating communities is now at the center of a functioning precinct, building, or workplace.
For example, Google Singapore announced its latest office spotlight that shared spaces and a close-knit community will be the new working environment for Googlers to work enjoyably and flexibly based on their hybrid approach to work policy.
As a result, communities are being formed through health spaces, tenant applications, collaborations, and events.
How to implement a flexible workspace for your people?
ONES all-in-one smart office system can help you to easily implement hybrid working at ease. You can easily perform virtual meetings, desk-hoteling, and digital office management with our Room Booking, Desk Booking, and Visitor Management features.
ONES Software now has a dedicated page to introduce a series of hybrid working measures to help you solve problems. You may wish to go to https://ones.software/sg/hybrid-workspace/ for further reference.
Contact us: hello@ones.software, or visit ONES Software official website for more information: https://ones.software/sg/.