How, when, and where we work is evolving at pace.
Commercial real estate services firm Cushman & Wakefield (C&W) 's Experience per square foot (XSF) survey data, which draws from 10 million data points, shows that 75% of people want to work in a hybrid way.
The XSF data tells us that people are coming into the office to meet others, to learn and to socialise, in short, because they want to. The data says when people want to, they do better - and by "do", we mean they are more engaged, their workplace experience is better, and they are 2.5X more likely to say they can do their best work. Compelling stuff, but how is hybrid working likely to affect a Practice in today's market directly?
🌟Retain employees and attract top talent 🌟
In highly competitive labour markets, winning the war for talent can mean the difference between a business thriving or surviving. Leveraging your workspace effectively through hybrid working also reduces the costs of recruiting, hiring, and training new staff. Minimising the financial impact of turnover on productivity and project delivery means flexible Practices have a leg up.
🚀Supe Up Operational Efficiency 🚀
Hybrid working can lead to increased operational efficiency by optimising the use of resources, streamlining processes, and leveraging digital tools for collaboration and communication. Practices can adopt cloud-based project management software, video conferencing platforms, and other digital solutions to facilitate remote work and improve workflow efficiency, resulting in cost savings and, the data suggests, improved project outcomes.
💪 Flex the Resource Allocation Muscle 💪
Hybrid working allows architect practices to allocate resources more efficiently based on project requirements and staff availability. Practices can scale their workforce up or down as needed, leveraging a combination of in-house staff, freelance professionals, and remote workers to meet project deadlines and client demands without incurring unnecessary overhead costs.
📈 Increase the bottom line 📈
Practices can downsize their office footprint, opt for flexible office arrangements like hot-desking, or even transition to fully remote operations, saving on rent, utilities, maintenance, and other overhead costs associated with maintaining a physical workspace.
🚫 See a shift in absenteeism 🚫
Ready to watch the absenteeism levels drop? More flexibility to manage personal commitments and health-related issues without taking time off work is a game-changer as your team can work from home when necessary, resulting in fewer disruptions and better overall productivity.
🌍 The new normal is a Total Workplace Ecosystem 🌍
The workplace is no longer a single location but an ecosystem of various places and experiences to support convenience, functionality and well-being. The purpose of the office is to provide inspiring destinations that strengthen cultural connection, learning, and bonding with clients and colleagues and support innovation.