All tagged Work

Offices Entering a New Normal

Urban Land Institute and The Instant Group collaborated on a research project in Spring 2023 to evaluate how evolving occupier (worker) behavior and greater macrotrends of such shape workspace demand. The study included a global survey targeting key decision-makers among office occupiers and landlords, supplemented by interviews and roundtable discussions with industry experts. Findings from the study revealed that a mere 14 percent of occupants believe their current workspace setups fully align with their business objectives and strategies (Chinn, 2023). Despite this, offices remain crucial in occupiers' workplace strategies for expressing corporate culture, fostering collaboration, and mentoring new and younger team members. Increasing remote work trends, employee preferences, and the need to foster enhanced corporate culture will lead to a decline in onsite office use, leading to a shift in the use of office spaces to other utilities. Looking ahead, the future of remote and hybrid work as well as the evolution of workplace design and functionality are poised to reshape office utilization, driven by changing demands and broader macroeconomic trends.