Connect with us

Hi, what are you looking for?

News

More firms to make hybrid work available for all by 2025 – JLL

SHRIDHAR GUPTA-UNSPLASH

MORE than half of organizations in the Asia-Pacific region are likely to make remote work arrangements available to their employees by 2025, prompting them to rethink their office spaces, a real estate consultant said.

They will also invest in new technology and prioritize sustainability, as hybrid work is here to stay even as the office remains crucial to business operations, Jones Lang LaSalle, Inc. (JLL) added.

“We see that organizations will accelerate strategic investments over the next three years to realize their long-term workforce and workplace priorities, and the remaining four months of 2022 will be a critical phase for CRE (corporate real estate) strategy,” JLL Philippines Country Head Joey M. Radovan said in a press release on Wednesday.

He was referring to the findings included in JLL’s “Future of Work” report, which surveyed more than 1,000 responses across 13 markets worldwide.

The report said that 56% of organizations in the region are likely to keep remote work available to all employees by 2025.

CRE executives said that successfully operating hybrid work will be their most important strategic priority over the next three years.

“This includes exploring flexible space options, with the average proportion of flexible spaces in Asia Pacific expected to grow between now and 2025,” JLL said.

“The shift to hybrid work has become a marker of change in the workplace, placing greater emphasis on how companies can support employee mental well-being and maintain productivity,” it added.

JLL found that 80% of Asia-Pacific organizations agree that quality space is a top priority to “facilitate the kind of workplaces, health and wellbeing amenities, and sustainability credentials employees and corporates increasingly need.”

“As the office continues to evolve post-pandemic into a destination for collaboration, occupiers will need to continue increasing their investments in creative spaces,” JLL Head of Work Dynamics Research James Taylor said.

“Real estate portfolio strategies to enhance social interaction among a geographically dispersed workforce will be more important than ever, and the focus is on organizations to create offices with less me-space and more we-space,” he added.

JLL said that companies should invest in quality spaces to ensure the “long-term success of hybrid work.”

“Office remains as an important element of work. We see wellness, sustainability, and technology gaining greater prominence in shaping the built-up environment,” JLL Philippines Head of Research and Strategic Consulting Janlo de los Reyes said.

Meanwhile, JLL said that the total headcount and real estate footprint are also expected to grow.

“With buildings accounting for over 60% of carbon emissions in cities, organizations face ever-increasing pressure to deliver clear outcomes in the race to net zero and create social value through real estate,” it said.

JLL said that sustainability strategies have a direct impact on real estate decisions. It said 71% of the organizations are likely to pay a premium for green building credentials in the future.

“As employees return to the office and the workforce recovers its momentum, flexible working spaces and environmental ambitions will increasingly become the cornerstones of a hybrid workplace,” the consultant said.

JLL said that “Philippines’ awareness when it comes to sustainability practices has gone up by leaps and bounds.”

It identified five critical areas that local organizations will need to consider for a sustainable, resilient, and inclusive future of work: rejuvenation of the office for hybrid work setup, investing in quality space, environmental and social aspirations, intelligent technology investments and real estate complex needs.

JLL is a professional services firm that specializes in real estate and investment management. It is a Fortune 500 company operating in over 80 countries with a global workforce of more than 100,000 as of March 31. — Justine Irish D. Tabile

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...

News

Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...

News

Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...

News

REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...

News

Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.