HYBRID IS THE NEW NORMAL IN THE OFFICE ENVIRONMENT

Significant Change

The office market in the Twin Cities and across the United States has experienced significant change since the beginning of the pandemic. Understanding what has changed and how that may impact your company culture, employee recruitment, and retention, and thus how much office space your company may need will be a critical thought process in the months ahead.

Hybrid Office Image - Games

Attempting to Get Employees Back in the Office

Another outcome of the pandemic is how employers are attempting to get employees back in the office. While the overall need for traditional office space is declining for most users, the need for creative or unique space is increasing. Many companies have decided that having a reason for employees to come back to the office is a new focus. Creating entertainment areas, collaborative areas, scheduled events, flexible workspaces, and company-offered food and beverage are a few ways employers are saying: we value you as an employee and want you back in the office!
Group Collaboration - Hybrid
Hybrid Office - Teams Call

A Hybrid Workforce

First, what has changed, specifically in the Twin Cities office market. The primary change is that allowing for a hybrid workforce is here to stay for the foreseeable future. Through the pandemic, employees and corporate leaders have learned that the workforce can be effective with certain types of work while working from home or a remote location. Most employees prefer at least some form of a remote work experience. Finding the right balance between having happy employees and training new or inexperienced employees to get the work completed professionally and on time is an ongoing challenge. Transparent communication between employer and employee about what is expected has been the most effective outcome.

A Hospitality Focus

The most active office buildings in the Twin Cities are typically the best located, highest quality offerings that will be more expensive, but offer the most in terms of culture, creative amenities, and professional management services including a more “hospitality-focused” environment like a high-end hotel might offer. Many companies are taking less space but are considering more expensive options to lure employees back to the office.  Over the next 3 years, the office market will continue to evolve into the new normal.

 

 

Q2-2022 Office Market Report

Our knowledgeable, experienced, team of real estate professionals is here to help you navigate the ever-changing office market.

Jim Jetland
Written By:
Principal

952-525-3333

Jim.Jetland@ForteREP.com

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