As the COVID-19 pandemic subsides and white-collar employees are finally heading back to their offices, the real estate industry, like other industries employing large numbers of white-collar employees, will face pressures from employees seeking greater flexibility as to where they perform work.
Many industry employers were at the forefront of the return to work (RTW) movement during the past year. Further, employers across industries are issuing RTW policies that respond to employee demands for flexibility. While real estate employers may feel pressure to adopt “office only” policies to model the RTW movement, the reality is that industry employers cannot ignore more flexible work arrangements. The workplace has evolved during the pandemic, and this evolution will continue. Real estate employers must focus on their customer needs and changes in workspace design and use, but employers should not forget their workforce.
With many businesses embracing the hybrid work model (generally, employees having the option of working both in-office and remotely), employers in the real estate industry should make sure their policies include flexibility. As the commercial real estate industry works to attract and retain top talent, it will be important to be able to compete with other industry employers by providing opportunities for flexible work arrangements. Recent surveys demonstrate employee demand for flexibility. For example, see Future Forum Pulse (October 5, 2021),...
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