Emerging migration patterns, new dynamics around public transportation, population density, and telecom infrastructure have begun to impact location selection criteria.
Would you consider working company at a provided location closer to your home?
Sentiment toward high-density urban cores remains favorable in the long term, but employee choice over when and where they work will continue in the wake of COVID.
Office-based employees will choose the urban-core location part of the time to interact with colleagues in an environment that provides them the amenities, technology and space that are critical to their productivity, enjoyment, and connections with others. But they will draw on a network of locations the rest of the time to conduct their work.
Establishing satellite offices that are near an increasingly dispersed workforce is of moderate but rising interest to occupiers, especially those with portfolios in the U.S., Europe, India, and Australia.
CBRE’s Workforce Sentiment Survey of 10,000 global employees across 32 companies found that 43% would either always or frequently prefer working at a company-provided location closer to their home. This sentiment is largely driven by employees who have 45+ minute, one-way commute times. By offering a network of locations closer to home, employers can help combat challenges such as commute times and feelings of isolation often associated with remote work.
Decentralized office strategies are emerging as a tool to support existing employees and attract new ones.
Flexible office providers are capitalizing on this emerging trend by more easily providing cost-effective, on-demand space. While hub-and-spoke portfolio solutions are unlikely to be a dominant strategy , they most likely will be pursued by occupiers in those areas that offer the perfect confluence of market attributes, talent location and availability, mobility profile, real estate availability and sustained mass transportation barriers.
For more information on workplace strategy, please contact Mike Young or visit our website.
Read the full report here.
Read other articles in the series:
Resetting Real Estate Strategy: Design and Experience - A series of core truths guiding the future of work (part 5 of 6)