Real estate consultant JLL said hybrid work is now becoming entrenched in Philippine companies’ corporate culture which will result in firms rethinking their office space, investing in new technology and prioritizing.
The property consultant said in a statement this is part of the findings in its “The Future of Work” report, which showed that 56 percent of organizations in Asia Pacific will likely make remote working available to all employees by 2025.
“The study also showed that corporate real estate (CRE) executives are saying that successfully operating hybrid work will be the most important strategic priority over the next three years,” it said.
The trend will push the growth of flexible working spaces in Asia Pacific between now and 2025, 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 strategy,” said Joey Radovan, JLL Philippines country head.
According to JLL, the shift to hybrid work has become a point of change in the workplace, “placing greater emphasis on how companies can support employee mental well-being and maintain productivity.”
JLL added the findings showed that 80 percent of organizations in Asia Pacific agree that quality space is a top priority as high-quality spaces are best suited to facilitate the kind of workplaces, health and well-being 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. Real estate portfolio strategies to enhance social interaction among a geographically dispersed workforce will be more important than ever, and the focus is on organisations to create offices with less me-space and more we-space,” said James Taylor, JLL head of work dynamics research for the Asia Pacific.
While flexible work gets a foothold in office culture, JLL, however, argues that this will raise the need for companies to 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.” said Janlo de los Reyes, JLL Philippines head of research and strategic consulting.
De los Reyes said with buildings accounting for over 60 percent of carbon emissions in cities, organizations face an increasing pressure to deliver clear outcomes in the goal to achieve zero carbon footprint for offices.
“That means sustainability strategies have a direct impact on real estate decisions, with 71 percent saying they are likely to pay a premium for green building credentials in the future,” he said.
