Share:

Cushman & Wakefield Research Predicts New Normal for Workplace

Yuko Okayasu • 17/06/2020

Global Survey on Working from Home During Pandemic Reveals Work Will Likely Shift from Office-Based to Total Workplace Ecosystem, Balancing Office, Home and Other Locations

 

Cushman & Wakefield (NYSE: CWK) recently analyzed responses from more than 40,000 individuals globally in the largest known survey conducted on work-from-home experiences during the COVID-19 pandemic, providing insight into how employees are coping and what the new normal will look like as offices reopen. Survey respondents represent approximately 30 companies across nearly 20 industries.

The survey results demonstrate that, during the pandemic, productivity generally remains strong and team collaboration has reached new heights through better leverage of remote technology. Three quarters of respondents agree or strongly agree that they are collaborating effectively with colleagues in the current environment – up 10% from data gathered during the pre-COVID-19 period – and 73% of respondents would like their companies to embrace long-term or permanent flexible working policies.

“It’s imperative to recognize that the workplace will no longer be a single location, but an ecosystem of a variety of locations and experiences to support flexibility, functionality and employee wellbeing,” said Brett White, Executive Chairman & CEO of Cushman & Wakefield. “That said, we expect current real estate footprint sizes to remain steady. Flexible working practices may result in fewer people in the office at any one time, but that space-saving is offset by the need to accommodate social distancing in the office.”

Remote working may be here to stay, but survey results also show human connection and social bonding are suffering, thus negatively impacting corporate culture and learning. Slightly more than half of respondents feel personally connected to their colleagues in the work-from-home environment.

“As we look to the future, the office will have a new purpose: to provide inspiring destinations that strengthen cultural connection, enhance learning, encourage bonding among colleagues and customers, and foster creativity and innovation,” said Despina Katsikakis, Head of Workplace Business Performance at Cushman & Wakefield.

Carol Wong, Director and Head of Workplace Delivery, Asia Pacific added, “The results for Asia Pacific are similar to the rest of the world in that employees in this region are also finding themselves to be as equally or more productive when working from home. However, given the cultural diversity in Asia Pacific, it is important for organizations to take a ‘Glocal’ approach (appropriately apply global trends locally) in designing the future of their workplaces. Individual cultural nuances as well as employees’ readiness for change have to be considered in order to maintain or enhance employees’ experience and engagement levels.”

Cushman & Wakefield has adopted a data-driven, evidenced-based approach to understanding key drivers of workplace experience through its Experience per Square Foot™ (XSF) database, a proprietary tool that tracks real estate and workplace metrics. The firm has analyzed over 2.5 million data points related to workplace experience pre-COVID-19, and an additional 1.7 million data points in the current work-from-home environment.

Visit The Future of Workplace to download the report.

 

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

RELATED INSIGHTS

Key Economic Indicators Q2 2020
Insights • Investment

Key Economic Indicators report

The GDP growth rate has recorded a negative growth for the second consecutive term, and now is considered to be a technical recession. Due to the prevention of the spread of new coronavirus infections, movements of people and things have been significantly slow around the world, and the macro environment worsened y-o-y, though the numbers still show better results than widely expected. 
Erika Watanabe • 01/06/2020
Covid-19, China
Article • Insights

Lessons from Landlords in China`s post COVID-19 Recovery Phase

While having the ability to work from outside of a corporate office has been feasible for the last couple of decades, working remotely at home in China has become important on a grand scale only really since the outbreak of COVID-19. 
Shaun Brodie • 24/03/2020
Greater China Capital Markets Webinar
Video • Capital Markets

Greater China Capital Markets Webinar

As the first country affected by COVID-19, what’s the current status of China’s commercial real estate (CRE) market and where is it headed?
In this session our industry experts will discuss the mainland China and Hong Kong market situations and share their insights and analysis on hot topics.

Anna Town • 08/05/2020