As more companies adopt hybrid work models, the need for physical office space is diminishing. It is the perfect moment for Real Estate and Facility managers to take advantage of rightsizing opportunities and commit to a small office space.
9% companies surveyed by CBRE intend to significantly reduce their office footprint while 72% are planning for modest office space reduction.
Gone are the days when growing your organization entailed expanding your office’s size. As the hybrid work model is overtaking the corporate world, the future of office spaces is all about flexibility, convenience, and optimization.
Not sure if you are ready to cut back on office space yet? Here are some reasons why it’s a good idea both operationally and for your employees:
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Choosing the office space management solution is no small feat. We collected a few insightful resources to help you identify your needs and navigate the sea of options. Continue your research:
Many businesses need physical office space because it is a central hub for teamwork, connection, and building the workplace culture. The importance of the office is evergreen because it’s the best place to communicate a company's identity, ethos, and ideals, as well as experience its brand.
Despite the fact that more and more organizations are shifting to hybrid or remote workspaces, physical offices are here to stay. In the future, we can expect them to be smaller, more flexible, and employee centric. Functional office space will shift to a modern workplace designed for activity-based work, communication, and teamwork.
Many companies decide to downsize their office space because it is one of the most efficient cost-cutting strategies. At the same time, successful downsizing can help organizations increase productivity, employee retention, and foster a positive working environment.