Why Landlords Need to Invest in Hybrid Work

Why Landlords Need to Invest in Hybrid Work
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Across the nation, people are burned out from work and exhausted. According to Forbes, a new study by Asana looked at over 10,000 knowledge workers across seven countries, and found about 70% of people experienced burnout in the last year. Employees have been trying to balance personal lives and professional responsibilities while dealing with the stresses and challenges of the pandemic. Unsurprisingly, it has taken a toll on their physical and mental well-being. Because of this, employees are looking for a workplace where they can make their own decisions about where they work best.

And, without work-life balance, employees are more likely to experience lower morale, make more mistakes at work, and be less engaged. As employers strive to fix these issues, landlords need to pay close attention.

It’s important that landlords remain proactive in addressing these ongoing issues in the workforce. Thus, landlords and property teams need to make building investments that create a better work environment for tenants, so they can increase employee wellbeing and keep their businesses afloat.

Turning to Hybridity

With the rise of The Great Resignation, employees are looking for physical workplaces that offer them more support and choice. Right now, employees are reluctant to return to physical office space full-time. Instead, they prefer the ability to follow flexible work arrangements, which allows them to choose which days will be spent remotely and in-house. In fact, workers who remain unsatisfied with employers that refuse to adopt flexible workplaces are three times more likely to look for a new job than those who are allowed to work remotely some days.

The truth is clear: employees are looking for roles that offer them a sense of community, work-life balance, and most importantly, one that promotes a hybrid work model. Hybrid working has gone from being a temporary accommodation to a permanent workplace practice. It is predicted that nine out of ten organizations will be combining working from home and on-site working in the coming years.

As landlords try to navigate a constantly changing environment, many have realized the importance of creating better workplace experience to keep employees happy. And, as more and more workplaces adopt hybrid workplace models, landlords will have to invest in properties that support these flexible practices as well be it through physical office infrastructure, technology enablement, or both.

Flexible Spaces

Although physical office spaces are downsizing, this gives organizations the perfect opportunity to redesign office spaces that are best suited for employees in a post-COVID landscape. Many landlords and property managers have begun to retire the concept of the traditional 9-to-5 office. They are now trading it in for modern adaptations that better help tenants and their employees do their most productive work.

Employees want spaces that support how they want to work, and for both real estate and tenant spaces, thats becoming more apparent. According to Creating Flexible Workplaces, not only will flexible office space support the hybrid workforce, but it will help tenants reduce their office footprints and in some cases help tenants explore and enjoy other properties across your portfolio under a shared, enhanced experience. This means that the physical workplace needs to be powered by technologies such as mobile access, resource booking, and other self-empowering, flexible tools to encourage tenants and employees to make the most of their workplaces in the ways they see fit.

To accomplish this, landlords and tenants alike areturning to workplace experience platforms. Our Office Insights 2022 report reveals that 68% of employers believe that investing in dedicated employee and workplace experience tools is very important to attracting and retaining talent. And, 72% are planning to redesign their workplaces which will certainly incorporate modern, updated technology toolsets. The bottom line is simple: a workplace that is built with flexible or hybrid work in mind offers tenants and employees the ability to pick and choose how they work best. And the best way to accomplish that is through workplace technology.

Want to learn more about HqOs workplace solutions? Schedule a consultation today.

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