_Asia Outlook 2022: Are we ready?

This was the question posed to a diverse panel of corporate real estate executives at the first live event organized by the British Chamber of Commerce and CoreNet Global Singapore Chapter of the year. The thought-provoking panel included Dan Whitmore, Head of Global Portfolio Solutions APAC from Knight Frank, Elizabeth Laws Fuller, Head of Growth, Southeast Asia at WeWork, Nick Hughes, Regional Head of Workplace (Property) at Standard Chartered Bank, and Vivekk Sehgal, Workplace Lead at Singtel and was expertly moderated by Neil Salton, Managing Director at ChangeWorq.

Focusing on offices and corporate real estate in general, the event quickly uncovered significant variance in cultural demands, business drivers, and industry specific nuances, all of which had a huge impact on an organisation's readiness to adopt flexible working practices, integrate technology into their real estate offer and fully embrace the philosophy of the workplace being an extension of the brand.

Key takeaways from the discussion include the following:

1. Flexibility – A matter of change management

Whilst many organisations were embracing alternate real estate models and ways of working prior to the pandemic, COVID-19 accelerated the necessity for change as businesses recognized the need for flexibility in how their staff worked both in and out of the office. However, many businesses remain constrained by pre-existing lease commitments, owned real estate, management inertia, or simply industry specific norms in terms of ways of working.

Whilst these barriers are real, they are not preventing the flexibility tide. Therefore, delicately addressing the barriers in a well-considered, situation specific manner, whilst maintaining business performance and staff wellbeing will be critical to long term success.

2. The future of workplace - A renewed purpose

There has been a significant re-evaluation in the role and use of office space. Gone are the days of churning out a 9-6 workday at a fixed desk for most people. The office is now being used a space for high-value activities such as innovation, collaboration and co-creation supplemented by quiet and task-based zones for more focused activities. In addition, organizations are actively exploring how to provide workers with office access closer to their homes through memberships at co-working venues to repurposing ancillary real estate, such as banking branches, to accommodate satellite workers.

This not only benefits employee convenience but releases the pressure on the central office whilst providing variability and choice for workers who seek to explore new work venues. Central offices with smaller footprints are now frequently used for brand building and culture hubs rather than focused work locations.

3. Enhance technology beyond the office

Whereas many businesses were quick to respond to events over the last 24 months, technology as an enabler to flexible working still lags where it needs to be. From basic provision such as access to a fast, reliable internet connection to high tech solutions such as considering the sociological factors for virtual meetings, technology and the implementation of it at a corporate and real estate level is not moving fast enough. Much of the necessary flexibility associated with new ways of working needs to strong, well-structured backbone for the company to thrive.

Connecting our organisations to the city, using technology to drive not only productivity but the experience of work will be critical in differentiating well adopted hybrid strategies from the ones that are not structured properly.

4. The criticality of corporate sustainability and employee wellness

Businesses are increasingly understanding recognizing the role they play in solving climate and broader sustainability related issues and are therefore actively pushing for being located in the most sustainable buildings, regardless of whether there is a rental premium attached. That said, whilst real estate strategies may embrace sustainability, much more can be done for employee wellness.

Access to programmes that include mental health resources as well as physical wellbeing resources, such as memberships to wellbeing services and hosting wellbeing in the office, can help organisations retain a culture of belonging and help to attract people back to the office. Similarly, landlords who extend mental and physical health programmes into their real estate offer are likely to see increased interest in their space.

5. Some things don’t change

With rapidly changing real estate landscape, many organizations will look on with trepidation as to what to do next but should be buoyed that very simple things can make a significant difference. Providing good coffee, access to clean washrooms, availability of meeting rooms and quiet spaces within an office are all “super drivers” in keeping people happy. People also want to use their office to socialize therefore embracing and providing amenity for this is very important.

Although we’re only “somewhat ready” for 2022 and tackling the real estate challenges presented, the last two years have taught us the necessity to remain flexible, to invest in the technology to improve how we work and most importantly that the human connection the office brings to delivering an organizations objective is critical.

Some things to consider:

As we are on the path to a workplace environment that is flexible, choice-based, holistically productive, and wellbeing centric, we must remember the primary purpose of having a physical space to conduct work – shared values and collaboration. Using the enabling infrastructure of the workplace, technology and people support, organisations can not only retain, but enhance employee experience, productivity and engagement.

• Building your Hybrid workplace strategy should include experience as focus to attract employees back to the office
• Technology strategy needs to span broader than the workplace – a central hub to re-invigorate culture and collaboration virtually – deliver the experience of work and support the workplace go beyond.
• Technology strategies that enable smooth space booking, seamless interaction between home, third spaces and the office.

This article was originally published in the British Chamber of Commerce Singapore's bi-monthly Orient magazine and written by Samarth Kasturia, Director Data Analytics and Workplace Strategy Lead at Knight Frank Asia-Pacific and Member of the BritCham Build Environment Committee; Alisdair Gillies, Managing Director at Greengate Advisors and Chair, Britcham Built Environment Committee; and Andy Marr, Managing Director at 8Build Asia and Co-Chair, Britcham Built Environment Committee