Hybrid work is here to stay, according to Ernst and Young's Future Workplace Index. Historically office-based workforces will work from the office and remote locations at any given time, and, for many, the traditional role of the office will become obsolete. According to the survey, 72% of office-based organizations are currently working in a hybrid environment, and 75% of respondents anticipate they will not have any one dominant work location going forward.
In fact, many companies are rethinking their workplace strategies, and teams are reinventing their real estate strategies as well. Here's something to think about:
Companies are staying flexible. There's no limit when it comes to the workplace approach, as company leaders are being mindful of their short- and long-term workplace strategies. They're determining how they'll stagger their hybrid workforce, how hybrid work will ultimately affect their company operations, and what this all means in terms of their overall office footprint. Savvy leaders are smart to envision choices that will positively impact their companies down the road.
Firms are assessing their real estate strategy. With hybrid work models emerging, there's much room for interpretation. Wise leaders are evaluating their real estate portfolio on a regular basis—from leasing offices in areas where their employees live, to sharing work spaces with companies that complement what they do, to scaling back their leases altogether to accommodate fewer people in the office on any given day. For those whose lease is facing a consumer price index adjustment, they're actively negotiating improvements and upgrades—all the better for the employee experience and satisfaction.
Leaders are evaluating their tech stack. While tech stack speak is the latest buzz, company leaders are ensuring their firms are properly positioned for digital transformation. They're putting both infrastructure and equipment in place to support a fully digital environment—from shared work areas and teleconferencing suites to telecommunications solutions.
The reality is that companies are making choices that will allow them to adapt and thrive in today's hybrid working world. While there's no one-size-fits all solution, one thing is for certain—any work environment must foster collaboration.
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