Workplace has traditionally been an adaptive resource for companies. It has adapted to the purpose of providing necessary work environments for the business and to an “affordability model” working to optimize costs while delivering efficiency and effective work environments. C-Suites around the world are disrupting this purpose − transforming the workplace strategy lever for their future success.
This is no longer just a real estate matter but one that requires a transformational approach to providing the workplace of tomorrow. Change is business driven from the top and adapting requires an integrated approach across a company’s infrastructure. The CHRO, CRE and CIO must partner to drive meaningful results.
Delivering Workplace 2025 Starts Today
Visualizing the workplace in 2025 starts with the realization that it’s closer than we think and planning for that reality starts today. Commercial real estate has evolved so much over the past 50 years. Gone are the days of cubicles, perimeter offices, fluorescent lighting and working 9-5, singularly focused on work alone.
Thanks to recent advancements in technology and the global economy, people today can work from anywhere, at any time; therefore, offices now must compete with a variety of other workplace options. When they do go into the office, they don’t want just a work environment, they want a complement to their work-life experience – from easy commutes and being greeted in the morning to having the temperature adjusted to their preference to getting a cappuccino and collaborating in easy-to-use social settings. They want to be understood in a place where they feel valued, connected and supported.
To attract and retain the “best” of these employees in an increasingly competitive world, companies need to understand what drives the employee experience and focus on delivering it. Real estate alone can’t deliver this experience. Instead, companies need to bring their People (HR), Place (CRE) and Technology (IT) functions along with the business together in a more integrated way. Better aligning these groups not only allows you to deliver an optimal experience to your employees through upgraded smart workplaces that are enabled by 24/7 virtual technology, but you will also be operating much more efficiently as a result.
People (HR) in 2025
By 2025, employee expectations will be more in line with today’s consumer expectations — a highly personal experience and access to what they want, when they want it and usually that same day. Not only will the future workforce assume their employer knows their wants, needs, health concerns and other issues, they will expect their employer delivers those experiences.
As a result, the three major goals for HR, working with IT and CRE should be:
- Create the ultimate workplace experience
- Customize to reduce stress
- Become more strategic about outsourcing
Place (CRE) in 2025
In 2025, the workplace is now a strategic asset to attract and retain top talent. Companies are building communities at the intersection of work/live/play to attract these employees. They are implementing fully integrated smart workplaces that anticipate employees’ needs and deliver optimal employee experiences as a way of doing business. Your workplace now serves as a real differentiator and strategic tool for your company providing competitive advantage.
The three major focus areas that CRE should be working closely with HR and IT on include:
- Driving culture
- “Upskilling” your real estate
- Offering flexibility
Technology (IT) in 2025
Technology will be key to workplace transformation in three major focus areas:
- Thrive in a virtual economy
- Leveraging a smart city
- Innovating through technology
The Future Is Now
New technologies are disrupting existing ones at an alarming rate – creating a chasm between workplaces that should be sustainable for years and assets that want to last for 40. Strategic real estate planning is paramount to enabling future experiences.
In the face of several economic, political and environmental challenges the world is facing today, it’s clear that many businesses won’t make it. According to innovation consulting firm Innosight, nearly half of the current S&P 500 will be replaced over the next 10 years. Companies need to innovate if they want to survive.
The Workplace 2025 vision is a transformed and elevated positioning of the workplace as a strategic asset, enabling companies to accelerate productivity, improve bottom line results through a more leveraged and engaged workforce.
But don’t wait – the future is now and your future workplace and company depends on it.
For an in-depth insight on the workplace of the future, download the Workplace 2025 report here.