Flexible working is here to stay, says MTD TV Panel
Bringing workers into the office after the pandemic is forcing employers and landlords to use more flexible work strategies and incorporate new technologies into the workplace, according to real estate experts who joined an MTD TV panel on Tuesday.
“I think in offices there’s a lot more demand for the ability to work in a more informal and flexible environment…I think flex is here to stay and will probably continue to increase at a good pace over the coming years,” Anshul Jain, head of tenant representative for Asia-Pacific and managing director for India and Southeast Asia at Cushman & Wakefield, said on the latest Mingtiandi office strategies.
Multinationals and local businesses in Asia are embracing hybrid work setups, he said, with the change forcing owners to redesign their properties to better meet the expectations of companies seeking to incorporate more flexibility post-pandemic.
Speaking at the same session, sponsored by Yardi, Eric Schaffer, Managing Director APAC of essensys, said owners are now investing in upgrading common areas, enabling shared office and incorporating more technology features into their properties. as a means of gaining an advantage over competitors and securing the value of their properties over the long term.
Flexible value
“People will pay more for a flexible workspace. These investments will definitely pay off up front, but also in terms of the sustainability of what you’re going to do next (with the space),” Schaffer said.
To maintain a competitive edge in the market, he noted how asset owners and landlords are struggling to offer flexible spaces either through third-party service providers or under their own brands. The boss of essensys, a provider of software and technology for commercial real estate, also stressed the need to integrate technology into the effective management of coworking spaces.
“What is considered flexible office, we would all agree that demand has certainly exceeded supply in many markets,” he added.
While the tech features of flexible spaces improve efficiency, creating a community-like environment in the workplace also increases productivity and boosts morale, according to Claude Touikan, co-founder of the architecture and design studio. Hong Kong-based design, Lead8.
“For the new office design, I think we’re looking at a working community concept – very interesting indeed,” Touikan said. “Usually when you walk into the office you want to feel like you have a sense of community by doing this you can actually increase your productivity inside the office because it’s good to be there and you also feel very comfortable.”
C&W’s Jain said building quality, address prestige, office space design and property sustainability features can help companies attract talent back to the office.
Bring back the teams
At Cushman & Wakefield’s new office at CapitaLand’s CapitaSpring at Raffles Place in Singapore, Jain said the company has seen attendance at work improve significantly after the company incorporated a more relaxed style and flexible design. at the workplace, which opened earlier this year.
Touikan shared similar experiences of Lead8, where his staff prefer to work onsite and enjoy superior connectivity and the ability to work together more easily. He also noted how the cramped homes common in Asia motivate workers to come back to the office.
“People are happy to come back if it’s a good environment to offer. Now one thing is certain, no one is willing to come back five days a week and it’s something we all need to incorporate into ourselves that the hybrid is here to stay,” added Jain.
Meeting expectations
A McKinsey survey showed that 70% of workers globally want their employers to offer flexible or remote work options post-pandemic, while two-thirds still want to spend in-person time with colleagues.
A flexible workspace can also allow businesses to have a presence in multiple locations through technology, according to Mimi Lee, deputy city manager of The Executive Centre, a Hong Kong-based premium flexible office space provider.
“People now would like to have more locations for their staff to choose from. If you are in a traditional office, you can only stay in one location, but with TEC in Hong Kong, you can go to all of our offices. It also attracts talent,” she said.
The Future of the Office panel marked MTD TV’s 31st and final broadcast this year. Mingtiandi’s online forums will be back with its residential APAC forum in March next year.
To see the events planned for 2023, click here.