Colliers’ Global Occupier Outlook 2023 report has found Asia-Pacific office occupiers are grappling with the complexities of the hybrid work model as they attempt to strike a balance between providing employees with desired flexibility and realigning their portfolios for the next evolution of the workplace.
The new report features insights from clients, surveys, and Colliers experts to zero-in on the fundamental forces reshaping workplaces, workforces, and property portfolios, and to serve as a definitive guide for occupiers aiming to construct resilient real estate strategies for the future.
Businesses, including many in New Zealand, are approaching their decisions on office take up and investment with a strategic approach as they face economic headwinds and wider global uncertainty.
Additional report findings include:
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• Across industries, occupiers are in the process of reassessing their current office footprint to determine the most optimal mix for their employees
• Employees want the best of both worlds. While more than 65 per cent of workers are seeking more in-person time with their teams, 70 per cent of workers want flexible work options to continue
• 66 per cent of business decision-makers are considering redesigning physical spaces to better accommodate hybrid work environments
• The growing urgency to attract and retain talent is prompting companies to consider alternative workplace solutions and new locations
• Flex space has been brought to the forefront by the hybrid working model and has helped occupiers optimise costs and ensure employee flexibility
• Integration of smart technology, digital infrastructure, and smart facilities can help attract tenants and achieve greater operational efficiency, reduce energy consumption, and improve customer retention
• Companies across the globe are investing in ESG and diversity, equity, and inclusion initiatives, including green design, tech-enabled features that promote higher health and safety, wellbeing amenities, and inclusive workplace environments
• Demand for green certified buildings will continue to rise as occupiers continue to seek eco-friendly buildings that meet environmental, energy, and health standards in their design, construction, and performance
The report highlights efforts being made by leading global companies to strengthen processes, build resilience, and meet complex needs, with the aim to enrich the workplace experience in a rapidly changing world.
Shining a spotlight on the ESG framework and the adoption of pioneering technology, the importance of a sustainable workplace is highlighted.
Since more than 65 per cent of workers are seeking more in-person time with their teams, companies across the globe are investing in green design, tech-enabled features that promote health and safety, and wellbeing amenities, among other initiatives, including the right location.
Rob Bird, National Director of Office Leasing at Colliers, says the broader trends and challenges that are prevalent across Asia-Pacific are also evident in New Zealand.
“Many of the clients we speak with are looking at ways to optimise their office footprint to ensure it is cost-effective and provides a desirable space for their team members, while meeting their ESG goals,” Bird says.
“As we have seen with recent major deals struck by Spark and Beca for popular locations in Auckland such as Albert Street and Wynyard Quarter, offering people a workplace that is accessible through key transport networks will add to its appeal.”
Across the APAC region, occupiers are keen on realigning their office portfolios to meet business needs while providing the flexibility employees desire. The right portfolio is key to keeping culture intact, attracting and retaining the best talent, and controlling operational costs.
“The field is wide open for the complete reinvention of approaches to sourcing talent, design and using spaces, and measuring performance. From better building materials to new platforms for virtual interaction, a host of exciting solutions and practices are coming to the fore that promise to help occupiers break new ground, whether in boosting the performance of buildings, or developing more integrated hybrid teams.”
- Article supplied by Colliers
