The COVID-19 pandemic and relatively successful adoption of mass remote working have prompted Asia Pacific office occupiers to undertake comprehensive reviews of their real estate portfolios and future office space requirements as they look to adapt to a very different world to the one that existed just 12 months ago.
As corporates embark up this process, CBRE Asia Pacific Research has published a special report, based on a recent survey of large office occupiers, examining how office strategy will evolve in the coming years, from labour to location, and from occupancy to design.
The report argues that the business disruption wrought by the pandemic and the uncertain albeit improving outlook are making it far more complicated for companies to ascertain future business and staffing requirements.
The widespread adoption of remote working is transforming how companies calculate the number of office-based employees and related workspace demand. Employees are re-evaluating the time and cost of commuting to work and giving more thought to living outside city centres.
These issues require companies to overhaul their office strategies by evaluating business strategy, workforce strategy, workplace strategy and portfolio strategy - all of which are now more interconnected and dependent upon one another than ever before.
"With business, workforce, workplace and portfolio strategies increasingly becoming interconnected, now is an opportune moment for clients to adopt a bold new approach to their corporate real estate needs. A real estate strategy reset that supports future business growth will play an essential role in helping companies adapt and thrive in the post-pandemic years."
Manish Kashyap, Head of A&T Services, APAC & Global Head of A&T Agile
- Workforce Strategy – Creating a hybrid working model
- While most companies intend to provide employees with the option to work remotely, they do not expect staff to do so on a full-time basis. Around 66% of survey respondents intend to allow remote working for no more than one or two days per week. This will create a hybrid workforce based in a physical office provided by their employer and a range of remote working locations.
- Workplace Strategy – Enhancing experience to improve engagement, innovation and productivity
- The survey found that occupiers continue to believe offices possess considerable advantages over remote working locations in terms of driving employee engagement, innovation and team productivity. These criteria are set to take on even greater importance in informing future workplace design.
- Portfolio Strategy – Resilient office demand and need for greater flexibility
- The transformative changes currently taking place within Asia Pacific workforces and workplaces require a fundamental reassessment of portfolio strategy, particularly in terms of agility, locational diversity and space efficiency. Technology will play a crucial role in facilitating a new “phygital” working experience enabling employees to seamlessly switch between onsite and remote locations.