Staying Relevant in 2023: How CRE Players Can Embrace the Future of Work

Embrace Technology

The first thing that CRE players must do to stay relevant in 2023 and shape their future of work is to embrace technology. Technology is transforming the workplace all around the world, and CRE players must understand how it is changing the way people work and the spaces they need to do their jobs effectively. CRE players must be able to provide the technology infrastructure that today's businesses require, such as high-speed internet connectivity, secure data storage, and collaborative tools. They must also be able to offer flexible workspace solutions that can be easily customized to meet the changing needs of businesses.

In addition to technology infrastructure, CRE players must also be familiar with emerging technologies that are transforming the way people work. Technologies such as artificial intelligence (AI), virtual and augmented reality (VR/AR), and the Internet of Things (IoT) are all poised to play a significant role in the future of work. CRE players must be able to understand how these technologies work and how they can be integrated into the workplace to improve productivity, collaboration, and employee satisfaction.

Prioritize Sustainability

The second thing that CRE players must do to build their future of work is to prioritize sustainability. The world is facing significant environmental challenges, and businesses are becoming increasingly aware of their environmental impact. CRE players must be able to provide sustainable workspace solutions that minimize their carbon footprint, reduce waste, and conserve resources.

Sustainability is not only good for the environment but businesses also. Many businesses are willing to pay a premium for sustainable workspace solutions that align with their values and help them meet their sustainability goals. CRE players that prioritize sustainability will be better positioned to attract these businesses and differentiate themselves in the marketplace.

Another benefit that CRE players can gain by prioritizing sustainability is cost savings to ensure a better future of work. Sustainable buildings typically use less energy and water, generate less waste, and have lower maintenance costs compared to traditional buildings. This can translate to significant cost savings for businesses that lease these spaces, and CRE players that offer sustainable workspace solutions can use this as a selling point to attract and retain tenants. Additionally, some governments offer tax incentives or other financial benefits to businesses that operate in sustainable buildings, providing further financial incentives for businesses to choose sustainable workspace solutions, allowing sustainable future of work options.

Foster Community

The third thing that CRE players must do to achieve a better scope in the future of work is to foster community. The workplace is no longer just a place to work; it is also a place to connect with others and build relationships. CRE players must create workspace solutions that foster a sense of community and provide opportunities for employees to connect and collaborate.

One way to foster community is to create shared spaces where employees can work, collaborate, and socialize. Shared spaces such as coworking spaces, lounges, and outdoor spaces are the future of work. They can create a sense of community and provide opportunities for employees to connect with others outside of their immediate team.

CRE players must also prioritize amenities that promote community and well-being, such as fitness facilities, cafes, and green spaces. These amenities not only improve the workplace experience for employees but also help to attract and retain businesses that prioritize employee well-being.

Space-as-a-service 

Since the pandemic, businesses have shifted away from more conventional CRE arrangements and towards the space-as-a-service model, with a surge in demand for flexible workspaces from both small- and medium-sized businesses (SMEs) and major corporations.

The space-as-a-service industry is expected to have tremendous expansion over the next few years, according to research released by Research Dive in April 2022. With a projected CAGR increase of 4.6% by 2028, the Asia-Pacific region is anticipated to have the quickest growth in this market.

Office space landlords and operators need to be on top of their game if they want to continue to draw in and keep occupants in an environment that is becoming more and more competitive, as this is the future of work.

Essentially, commercial real estate is now a service that competes with cafés, restaurants, hotels, and other businesses rather than a hill to bury money in.

Improved Employee Retention

Another benefit that CRE players can gain by fostering community is improved employee retention. Employees who feel a sense of community and belonging in the workplace are more likely to stay with their employer for longer periods. CRE players that create workspace solutions that prioritize community and foster social interaction can help businesses retain their top talent. This can be a significant selling point for CRE players when attracting tenants, as businesses are always looking for ways to retain their employees and improve their overall productivity. By fostering a sense of community, CRE players can help businesses achieve their goals while also improving their own bottom line.

Prioritize Flexibility

The traditional 9-to-5 workday is becoming less common, as more businesses adopt flexible work arrangements such as remote work and flexible hours, which is the future of work around the globe. CRE players must be able to provide workspace solutions that can accommodate these flexible work arrangements and allow employees to work from anywhere at any time. This may include offering virtual office solutions, shared workspace options, and on-demand meeting room rentals. By prioritizing flexibility, a key factor in the future of work, CRE players can stay ahead of the curve and meet the evolving needs of businesses and their employees.

To Conclude

The future of work is rapidly evolving, and CRE players must adapt to stay relevant in the marketplace. To do so, they must embrace technology, prioritize sustainability, and foster community. These three things will help CRE players create workspace solutions that meet the changing needs of businesses and employees, differentiate themselves in the marketplace, and position themselves for success in the years to come.

Are you looking for more sustainable and reliable options supporting the future of work, then Office Hub is your best bet! From sustainable buildings to fostering communities, we promote listings that provide a hand in better well-being and shape the future of work together.