Focusing on key global cities such as Singapore, Amsterdam, Dubai, Tokyo, London, New York, Melbourne and Buenos Aires, the report provides deep insights into the evolving nature of work, highlighting significant shifts in workplace strategy, technology adoption, and employee expectations.

As to key trends, the report underscores a surge in hybrid working models: although the return to office is gaining momentum, 85% of organizations are now prioritizing flexible work arrangements, which is reshaping business districts.

It also identifies AI-driven automation as a major driver of efficiency, with 72% of companies integrating artificial intelligence (AI) tools to streamline operations; smart mobility and AI-driven solutions are transforming urban life and the infrastructure.

Sustainability remains a key focus, with businesses increasingly investing in eco-friendly office spaces and carbon-neutral policies; cities are prioritizing sustainability, inclusivity, and connectivity to build a better future

As well as identifying these key trends, the report reveals three core categories of cities:

• Innovation-led cities (e.g., Singapore, Amsterdam, Dubai) are rapidly evolving and heavily investing in innovation and people.
• Steadily evolving cities (e.g., Tokyo, London) are leveraging their size and resources for gradual change.
• Adaptive cities (e.g., New York, Melbourne, Buenos Aires) are showing resilience and adapting to pressures.

Commenting on the findings, Philip Ross, CEO of UnGroup (UnWork, WORKTECH and WORKTECH Academy), stated:

Work is undergoing a fundamental transformation. Organizations must embrace innovation, from AI-powered workplaces to dynamic hybrid strategies, to stay competitive. Our report provides a roadmap for leaders navigating this rapidly changing landscape.

By taking a deeper dive into eight world cities, this report aims to show how a greener, smarter, more inclusive and more connected urban future is being built in specific locations and under specific conditions. Businesses that adapt to these trends, and successfully align technology, culture, and sustainability will be best positioned for long-term success.

Wish You Were Here: Eight World Cities Shaping the Future of Work is available to WORKTECH Academy members (others may join today to access it).

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The report, commissioned by Crown Workspace, an expert in everything from office removal to workspace refresh, and full refurbishment, reveals a growing disconnect between the design of today’s offices and the evolving needs of their occupants.

Office attendance: preference vs reality

A staggering 91% of employees say they would return to the office more often if the space better supported their needs, highlighting a clear opportunity for businesses to reimagine their work environments. Yet there’s a noticeable disconnect between attendance and employee preferences: while 59% currently work in the office full-time, only 41% say they actually prefer to. Nearly half (47%) favor a hybrid model, reflecting the growing demand for greater flexibility.

Despite this shift, the office still holds value. A full 45% of employees report feeling more productive in the office compared to just 25% at home.

How environment and design are impacting productivity

Open-plan office spaces may have once been seen as a solution for collaboration, but the reality is they often fall short, especially when it comes to supporting creativity and productivity. Three quarters (75%) of employees say that the furniture, layout and flexibility of their office space have a significant impact on their well-being and performance, yet fewer than one in four (24%) feel their current setup actually supports those outcomes. The message is clear: employees want spaces that work with, not against, how they focus and create.

Quiet zones and personalized workspace are high on the wish-list — 67% say access to quiet areas is essential, while 77% value having a dedicated workspace. A further 70% believe having a designated desk with a personalized setup (rather than hot-desking) is critical to a positive office experience. For businesses looking to boost productivity, creativity and a meaningful return to the office, designing workspaces that prioritize focus, ownership, and comfort is essential.

While the survey shows collaborative, open spaces can be positive for offices, it also suggests companies and organizations have neglected the role of quiet spaces for some time.

The role of technology

Employees may be less productive at home simply because they don’t have access to the same equipment they use in the office. Notably, more than a third of employees (36%) only have access to a second monitor at work, highlighting the workplace’s advantage in providing specialized tech resources. Similarly, 40% of employees say they only have access to a printer in the office, compared to just 5% who have access to one exclusively at home — further reinforcing the gap in essential tools between remote and in-office setups.

Other tools, such as industry-specific equipment, are also largely office-based — 58% of employees report having access to these only in the office, compared to just 4% who have access to them exclusively at home.

The future — flexible, focused, and fit for purpose

Looking ahead, 76% of facilities managers say they expect to create more interactive and engaging office environments within the next three years. Many are also evolving how they use space — storing desk equipment, furniture, and safety supplies off-site to make room for new layouts that better suit hybrid and collaborative workstyles.

Interestingly, 48% of facilities managers expect to downsize their office during the same period. This trend may be driven by evolving workplace dynamics in the wake of the pandemic. As Phil Oram, UKI regional director at Crown Workspace, explains:

Since the pandemic, the physical space that an office occupies has come under greater scrutiny. With fewer people in the office, it’s more important than ever to design Workspace around the needs of the workforce. At the same time, organizations must plan for a more sustainable future, aligning with global sustainability goals. As offices downsize, equipment doesn’t need to be discarded — there are real opportunities to upcycle and recycle, giving these items a second life.

The verdict? Reimagine or retire the open office

Commenting on the findings from the report, Oram continued:

Our research shows that the modern workforce wants more from their office environments. Employees are looking for spaces that support both wellbeing and performance. Despite decades of popularity, the fully open office consistently falls short—failing to provide the quiet and personalized spaces people need to thrive. The future of the successful office will need to be flexible, functional, and above all, designed with people in mind. It’s time for employers to rethink their approach and take decisive steps to create Workspace that truly support their people—because when employees thrive, businesses do too.

The report, Is It Time to Kill the Open Office, for Good? (PDF), is available from Crown Workspace.

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CBRE’s analysis of the 100 largest office leases revealed that their average size rose to 288,834 sq. ft. in 2024, an 8% increase from 2023. The average had been declining since 2020 except for an isolated increase in 2021.

A similar trend was seen in overall U.S. office leasing, where the average size of newly signed office leases increased slightly last year to 29,774 sq. ft. after four years of declines. CBRE tracks leases of 10,000 sq. ft. or larger.

Whitley Collins, CBRE’s Global President of Occupier Advisory & Transaction Services, stated:

The 100 largest office leases of 2024 underscore our view that more companies are done shrinking their office footprints to match new office attendance patterns. Some likely found they actually need more office space than they assumed and therefore must backtrack. Others are expanding their headcount as the economy gradually recovers.

Tech rebound

The tech industry accounted for 29 of the largest leases of 2024 up from just 11 in 2023. That vaulted tech ahead of the finance and insurance sector, which logged 15 larges leases, and the business and professional services sector, which notched 13.

The tech industry increased its overall office leasing last year, partly due to the growth in artificial intelligence. Tech’s activity across all leases larger than 10,000 sq. ft. topped all other sectors in Q4.

Jessica Morin, CBRE’s Americas Head of Office Research, pointed out:

Tech’s office-leasing activity rebounded strongly in 2024, but it’s still below its pre-pandemic level. That’s the case for the aggregate amount of office leasing in the U.S., too.

Renewals on the rise

More companies signing mega leases opted to stay put last year rather than relocate. A full 68 of the largest 100 leases were renewals, up from 58 in 2023 and 44 at the recent low point in 2021.

Two influences likely contributed to the rise in renewals, according to the report. First, staying put is less expensive than relocating and outfitting and designing that new space.

Second, a slowdown in office construction in recent years has limited the availability of large blocks of high-quality office space in certain markets, making it harder and more expensive for companies to find better locations.

NYC, DC lead in share of top leases

On the market level, Manhattan led all markets by a wide margin for share of the largest 100 leases than other regions.

To read the full report, 2024’s Top 100 Office Leases: Occupiers Take More Space on Average,  visit CBRE.

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These key findings emerged from the analysis:

1. Cities, particularly economically important, walkable urban places near the core, violated portfolio theory in real estate markets. This is especially true for downtowns, where 70% of real estate square footage is currently office.

2. There is an optimal product mix for real estate markets to move towards. This optimal mix, for most cities, on average, is 42% Work (office, owner-occupied, GSA), 32% Live (for-sale and multifamily rental housing) and 26% Play (retail, hotel and other sports/entertainment).

3. Reimagining these walkable urban places will yield dividends for all stakeholders in the city. These small, walkable pockets of cities account for only 3% of the city’s landmass and 25% of the city’s real estate footprint, but 37% of city tax revenues and 57% of city GDP. If these places fail, the entire city suffers.

Developed in partnership with Places Platform, a real estate solutions technology company co-founded by coauthor Christopher B. Leinberger, who is also the Charles Bendit Distinguished Scholar & Emeritus Professor and Chair, Center for Real Estate & Urban Analysis at George Washington University School of Business, Reimagining Cities looks at the recent past and probable future for 15 key U.S. cities — addressing critical questions about their economic health, how “doom loops” can manifest, and how they can be reversed into “virtuous cycles.”

The report details four key strategies needed to revitalize cities and downtowns to ensure they remain vibrant and engaging, including:

1. Decreasing the share of real estate dedicated to Work, especially in downtowns;

2. Increasing the share of space dedicated to Live, particularly in downtowns;

3. Boosting the ratio of for-sale housing within Live; and

4. Enhancing the Play component, to drive incremental foot traffic from visitors.

Kevin Thorpe, Cushman & Wakefield’s Global Chief Economist, explained:

Our study is really a call to action. Some of our great cities and downtowns are at risk of entering into an urban doom loop, which is a very difficult cycle to break. The bottom line is a portion of the real estate most cities have today made sense for the economy 20 years ago, pre-hybrid work, but do not make sense for the economy today. Our downtowns and central cities are transforming with the knowledge economy, but also with the experience economy. Cities are increasingly about experience and consumption, and not just knowledge sector production. From this study, we now have the data, we know where the problems are, and we know what the solutions are. Doom loops are not inevitable, but the time to take action is now.

To complete the analysis in the report, Places Platform leveraged its proprietary tools, including its place-based analysis, and worked with Cushman & Wakefield to aggregate a first-of-its kind real estate database which includes nearly 100% of all real estate data from the parcel level up. This place-based analysis includes data covering all real estate products in 15 sample cities, including multifamily rental, for-sale housing, office, retail, hotel, industrial, cultural (museums, theaters, and more), sports and events facilities, convention centers, government buildings and universities.

Rebecca Rockey, Cushman & Wakefield’s Deputy Chief Economist and Global Head of Forecasting, pointed out:

By partnering together, Cushman & Wakefield and Places Platform, LLC, have been able to compile a never-before-seen real estate database that includes all property types in these walkable urban places. This has led to analysis that can help investors, businesses, local governments, and place management organizations understand the current real estate portfolio mix and how to proceed in ways that help urban neighborhoods grow and thrive.

Additional key findings from the report include:

• Any pandemic-induced “doom loop” is episodic and has shown signs of a reversal: Population losses and drops in visitor foot traffic have reversed in these walkable urban places as they regained residents and attracted more visitors.

• The optimal urban real estate mix exists: The ideal balance consists, on average, of 31% of space dedicated to Live, 42% to Work, and 26% to Play. This split generates the highest real estate value and GDP per acre. Expanding residential and entertainment offerings will create more vibrant, resilient urban environments.

• Office remains a key component of urban real estate portfolios: In fact, Work should be the plurality of square footage in urban cores, but an over-reliance on Work — especially in downtowns — has pressured valuations. A more balanced mix of residential (Live) and entertainment (Play) space is necessary to improve real estate values.

• Downtowns are extremely Work-centric: Currently, 70% of downtown real estate is dedicated to Work. These areas must increase their allocation of space to Live (currently only 16%) and Play (15%) spaces to create a more balanced and sustainable real estate mix.

• Other economically important, walkable urban places are more balanced, but many still need more Live and Play: With 42% allocated to Live, 44% dedicated to Work, and 14% to Play, Downtown-Adjacent, Urban Commercial and Urban University neighborhoods are more closely aligned with the optimal product mix, which supports higher real estate values and GDP growth.

• Cities must make the right thing easy to do: For example, expediting the entitlement process, moving toward form-based codes and offering incentives to accelerate adaptive reuse of space dedicated to Work — there are multiple options for how cities can facilitate this rebalancing.

Cushman & Wakefield is dedicated to helping our clients navigate the evolving landscape of commercial real estate. This report reflects the deep and rigorous approach we take toward understanding the full real estate ecosystem, to help our clients develop solutions that address their most complex issues. Our comprehensive advisory offering addresses the full spectrum of client needs, from strategic planning to execution, helping our customers to make critical decisions with confidence.

To learn more, read the full Reimagining Cities: Disrupting the Urban Doom Loop report at Cushman & Wakefield.

The post Cushman & Wakefield’s <i>Reimagining Cities: Disrupting the Urban Doom Loop</i> report provides a blueprint to optimize city real estate portfolios appeared first on FMLink.

These key findings emerged from the analysis:

1. Cities, particularly economically important, walkable urban places near the core, violated portfolio theory in real estate markets. This is especially true for downtowns, where 70% of real estate square footage is currently office.

2. There is an optimal product mix for real estate markets to move towards. This optimal mix, for most cities, on average, is 42% Work (office, owner-occupied, GSA), 32% Live (for-sale and multifamily rental housing) and 26% Play (retail, hotel and other sports/entertainment).

3. Reimagining these walkable urban places will yield dividends for all stakeholders in the city. These small, walkable pockets of cities account for only 3% of the city’s landmass and 25% of the city’s real estate footprint, but 37% of city tax revenues and 57% of city GDP. If these places fail, the entire city suffers.

Developed in partnership with Places Platform, a real estate solutions technology company co-founded by coauthor Christopher B. Leinberger, who is also the Charles Bendit Distinguished Scholar & Emeritus Professor and Chair, Center for Real Estate & Urban Analysis at George Washington University School of Business, Reimagining Cities looks at the recent past and probable future for 15 key U.S. cities — addressing critical questions about their economic health, how “doom loops” can manifest, and how they can be reversed into “virtuous cycles.”

The report details four key strategies needed to revitalize cities and downtowns to ensure they remain vibrant and engaging, including:

1. Decreasing the share of real estate dedicated to Work, especially in downtowns;

2. Increasing the share of space dedicated to Live, particularly in downtowns;

3. Boosting the ratio of for-sale housing within Live; and

4. Enhancing the Play component, to drive incremental foot traffic from visitors.

Kevin Thorpe, Cushman & Wakefield’s Global Chief Economist, explained:

Our study is really a call to action. Some of our great cities and downtowns are at risk of entering into an urban doom loop, which is a very difficult cycle to break. The bottom line is a portion of the real estate most cities have today made sense for the economy 20 years ago, pre-hybrid work, but do not make sense for the economy today. Our downtowns and central cities are transforming with the knowledge economy, but also with the experience economy. Cities are increasingly about experience and consumption, and not just knowledge sector production. From this study, we now have the data, we know where the problems are, and we know what the solutions are. Doom loops are not inevitable, but the time to take action is now.

To complete the analysis in the report, Places Platform leveraged its proprietary tools, including its place-based analysis, and worked with Cushman & Wakefield to aggregate a first-of-its kind real estate database which includes nearly 100% of all real estate data from the parcel level up. This place-based analysis includes data covering all real estate products in 15 sample cities, including multifamily rental, for-sale housing, office, retail, hotel, industrial, cultural (museums, theaters, and more), sports and events facilities, convention centers, government buildings and universities.

Rebecca Rockey, Cushman & Wakefield’s Deputy Chief Economist and Global Head of Forecasting, pointed out:

By partnering together, Cushman & Wakefield and Places Platform, LLC, have been able to compile a never-before-seen real estate database that includes all property types in these walkable urban places. This has led to analysis that can help investors, businesses, local governments, and place management organizations understand the current real estate portfolio mix and how to proceed in ways that help urban neighborhoods grow and thrive.

Additional key findings from the report include:

• Any pandemic-induced “doom loop” is episodic and has shown signs of a reversal: Population losses and drops in visitor foot traffic have reversed in these walkable urban places as they regained residents and attracted more visitors.

• The optimal urban real estate mix exists: The ideal balance consists, on average, of 31% of space dedicated to Live, 42% to Work, and 26% to Play. This split generates the highest real estate value and GDP per acre. Expanding residential and entertainment offerings will create more vibrant, resilient urban environments.

• Office remains a key component of urban real estate portfolios: In fact, Work should be the plurality of square footage in urban cores, but an over-reliance on Work — especially in downtowns — has pressured valuations. A more balanced mix of residential (Live) and entertainment (Play) space is necessary to improve real estate values.

• Downtowns are extremely Work-centric: Currently, 70% of downtown real estate is dedicated to Work. These areas must increase their allocation of space to Live (currently only 16%) and Play (15%) spaces to create a more balanced and sustainable real estate mix.

• Other economically important, walkable urban places are more balanced, but many still need more Live and Play: With 42% allocated to Live, 44% dedicated to Work, and 14% to Play, Downtown-Adjacent, Urban Commercial and Urban University neighborhoods are more closely aligned with the optimal product mix, which supports higher real estate values and GDP growth.

• Cities must make the right thing easy to do: For example, expediting the entitlement process, moving toward form-based codes and offering incentives to accelerate adaptive reuse of space dedicated to Work — there are multiple options for how cities can facilitate this rebalancing.

Cushman & Wakefield is dedicated to helping our clients navigate the evolving landscape of commercial real estate. This report reflects the deep and rigorous approach we take toward understanding the full real estate ecosystem, to help our clients develop solutions that address their most complex issues. Our comprehensive advisory offering addresses the full spectrum of client needs, from strategic planning to execution, helping our customers to make critical decisions with confidence.

To learn more, read the full Reimagining Cities: Disrupting the Urban Doom Loop report at Cushman & Wakefield.

The post Cushman & Wakefield’s <i>Reimagining Cities: Disrupting the Urban Doom Loop</i> report provides a blueprint to optimize city real estate portfolios appeared first on FMLink.

This year’s findings are unveiled through a series of articles exploring key areas of focus for corporate real estate teams: Managing the implications of shifting work patterns; Partnering with the C-suite to support CRE investment; Identifying CRE activities for “AI copiloting;” Moving from ambition to action on sustainability commitments; and Defining the future-fit CRE function. The first two articles, newly launched, dive into the effects of shifting work patterns on workplace expectations, and what the changing world of work means for the way the CRE function operates as more than 64% of leaders expect to increase and rebalance their headcount by 2030, in an attempt to recruit the right skills for the future.

Neil Murray, global CEO, Work Dynamics, JLL, stated:

Since our 2022 survey, the CRE landscape has become increasingly complex and dynamic, evolving toward better office use. We see that in these results, and in our conversations with clients. Looking ahead, business and CRE leaders working to drive talent and efficiency throughout their organization must consider the unique needs of their organization, and leverage tools such as tech, AI, and upskilling, as well as strategic partnerships across the value chain to enable the CRE function to reach its full potential as a powerful agent of transformation.

Competing visions on the most efficient workstyles create renewed CRE challenges

Business leaders are mainly focused on three corporate goals over the next five years: growing revenue through expansion and M&A (57%); attracting and retaining talent (53%); and achieving organizational efficiency (54%). However, the juxtaposition that lies between driving revenue growth through top talent and increasing efficiency requires leaders to delicately balance priorities and assess the role of offices as places that enable employees to deliver their best work.

Strong momentum toward office-based work since 2022 has brought forth expectations among respondents to increase use of office space (62%), where more than half of leaders plan to grow their total footprint over the next five years. Today, 44% of organizations are considered “office advocates,” who would like to see staff in the office five days a week — as compared to 2022, when just 34% of employees were working in the office full time. Hybrid work is here to stay, but the office is central to work again. Today, 85% of organizations have a policy of at least three days of office attendance per week, and 43% expect the number of in-office days to increase by 2030.

Globally, hybrid work is more likely to take place at large organizations in EMEA, where hybrid workstyles are considered a key part of the employee value proposition, and largely in sectors including e-commerce, energy and renewables, technology, and life sciences. Office advocates alternatively tend to be small-to-medium sized companies in APAC or the Americas, across sectors such as healthcare, retail and manufacturing. Beyond those big trends, the reality is often more complex, with different workstyles coexisting within many organizations.

Today’s office advocates also make a concerted effort to address diverse workplace needs — they are more focused on making accessible workplaces (49% vs. 36% of hybrid adopters), tailored to meet the needs of different generations, cultures and neurodiversity specificities, and may even pay a premium to occupy buildings with leading health and well-being credentials. With office attendance may also come new opportunities for compensation and career advancement: more than a third (39%) of respondents could envision introducing different pay and benefits to employees who attend the office regularly.

Cynthia Kantor, CEO, Project & Development Services, JLL, said:

The future of work looks different across companies and regions, reflecting the unique nature of organizations and employee needs. It keeps shifting and requires building evolutionary office programs and spaces, able to adapt to continuous changes in the workstyles. Globally, as CRE budgets and footprints receive new investment, the corporate real estate function must effectively partner with the C-suite to demonstrate the desired value.

The corporate real estate function can serve as a powerful agent of transformation, particularly with the use of technology, AI and the support of strategic partners

The value the corporate real estate function can deliver will vary depending on the needs of the organization and regional priorities. Globally, business leaders believe CRE can add the most value by supporting business growth (41%), enabling organizational efficiency (38%) and reducing operating costs (37%). Environmental, social and governance (ESG) factors are also an area in which the CRE function is expected to add value, especially in EMEA. Organizations in the Americas are more likely to expect CRE to support business growth, innovation and efficiency, while companies in Asia Pacific are more focused on digitization.

These varying expectations around value require agility throughout CRE functions, in a context where 41% of CRE decision makers report challenges with thinking and investing for the long term due to the pace of organizational change. The same percentage believe CRE is perceived as a cost center, rather than a value driver. Identifying the right metrics and ways to demonstrate value, in addition to strengthening relationships with the C-suite, will ensure CRE is more integrated into the wider business and positioned to quickly adapt to changing priorities — 46% of CRE leaders say influencing and leadership will be critical skills in the future.

Technology is also emerging with greater impacts for CRE, as more decision-makers expect to report to business transformation or technology by 2030. CRE leaders believe that 70% of their activities will be at least partially supported through the use of AI by 2030, and a quarter of the CRE function could be initially completed through automation — freeing up time for more strategic work. Nearly two-thirds (62%) of decision makers see technology and AI adoption as critical for enhancing the value that CRE delivers in the future. A “future-fit” CRE team should focus on high value-add tasks internally, while automation and AI take on routine and repetitive tasks and outsourcing partners are brought in for specialist tasks and individual projects.

Read the full The Future of Work Survey 2024 at JLL.

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Only 30% of workers say their employer has solicited their input on what remote and hybrid work flexibility they would prefer, while 67% say remote work improves corporate culture. Workers say their top concerns about more in-person work include work-life balance (48%), commute time (41%), increased costs (36%), stress (33%), and their happiness (26%).

This research comes as many employers continue to increase in-person work, while other organizations are leveraging flexible work arrangements to recruit and retain workers in a continued tight labor market.

Melissa Jezior, president and chief executive officer of Eagle Hill Consulting, advised:

Employers are wise to tread carefully when making changes to their remote and hybrid work policies. While in-person work has benefits, reducing the flexibility that many workers crave could backfire in terms of employee retention, morale, and company culture. It’s important for employers to understand that workers do see the value of in-person work, but they view some tasks as better performed remotely and they don’t want mandates.

One troubling finding is that the vast majority of workers say they haven’t been asked about their preferences regarding remote work. Gauging worker sentiment is a necessary step employers should take to make informed policy decisions. While employee preferences don’t drive all business decisions, not understanding worker views is never a good approach.

The nationwide survey of U.S. workers also finds that employees see the value of in-person work. A large share of workers (56%) say those who work more in the office than remotely are more likely to be successful in their jobs. A full 85% of workers say team building is managed better in person, as is integrating new team members (84%), training and managing teams (78%), onboarding (74%), kicking off a new project (76%), getting a project back on track (74%), performance discussions (68%), meetings (65%), giving and receiving feedback (63%), brainstorming (62%), and IT support (54%).

The research also finds:

• Employees say the benefits of returning to the workplace would include increased socialization (46%), the ability to leave work at work (35%), improved collaboration (33%), and more productivity (32%).
• Workers are split on employers tracking their attendance to ensure compliance with company remote work policies. Just over half (51%) want their attendance tracked, while 49% don’t.
• Around a third (34%) of workers are willing to sacrifice a dedicated workspace in exchange for more remote work. Only 17% would sacrifice pay for increased remote work.
• Fully 71% of employees say someone they work with directly makes their remote work flexibility decisions.

The findings are based upon the 2024 Eagle Hill Consulting Workplace Flexibility Survey, conducted by Ipsos most recently June 4-7, 2024. The survey included 1,453 respondents from a random sample of employees across the U.S. Respondents were polled about their views about working remotely.

Read the research infographic, “Employees Weigh In On Workplace Flexibility: 2024,” which details the research findings.

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According to the report, 94% of employees in exceptional workplaces have a choice in where they work within the office, granting them the autonomy to work across multiple settings and promoting a higher sense of value and engagement. For the first time, the new survey goes beyond office walls to reveal how exceptional workplaces perform as part of a broader ecosystem of spaces and experiences. These top-performing workplaces, often located in amenity-rich neighborhoods, are part of a wider environment that includes diverse spaces such as libraries, cafés, outdoor areas and coworking spaces.

With less than a third of global workplaces having been redesigned in the last three years, there’s a pressing need for organizations to intentionally rethink office spaces to boost company culture and drive business growth.

Janet Pogue McLaurin, global director of Workplace Research at Gensler, stated:

It’s time to redefine workplaces for the next evolution of work. Organizations and leaders need to shift their thinking beyond just returning to the office and instead focus on the opportunity to design high-performing spaces for people to work at their best. A great workplace must not only be a tool to get work done effectively but be intentionally designed for human emotion — creating exceptional experiences that support new ways of working both inside and out of the office.

Key findings and data

Top Performers Set the Standard for Workplace Value

• 

  The most engaged workers value the workplace for the learning, networking and socializing opportunities it offers — the most engaged spend just 36% of their time working alone, compared to 44% of time for the least engaged.

• At the individual level, the most engaged employees prioritize socializing and learning, while strong teams seek in-office connections, and innovative companies thrive on collaboration, both in-person and out of the office.

Exceptional workplaces offer an ecosystem of experiences beyond the office

• Building quality had a direct relationship to workplace quality. High-performance workplaces have access to 2.6x as many amenity spaces on-site and 1.6x as many amenities and services in the surrounding neighborhood.
• Higher-quality buildings are more likely to be in amenity-rich neighborhoods that enhance workplace performance and experience, underscoring the importance of strategic location and design.

Exceptional workplaces fuel top performance

• There is a direct, positive link between top performers at all scales and working in a high-performing workplace.
  • 96% of employees in high-performing workplaces say they have control over how they manage their time at work, compared to just over half of those in low-performing workplaces.
  • 99% of employees at the most innovative companies say that they would recommend their organization as a great place to work, compared to just 37% in the least innovative.
  • 97% of the most engaged employees say they are likely to stay with their company next year, compared to just 53% of the least engaged.

The Gensler Research Institute conducted an anonymous, panel-based survey of over 16,000 full-time global office workers across 15 countries including U.S., Mexico, Canada, UK, Germany, United Arab Emirates, Saudi Arabia, Singapore, and the Philippines. Respondents were distributed across 10 client industries and represented a broad cross-section of company sizes, roles, ages and geographies. The survey was fielded between October 31, 2023, and January 29, 2024. Respondents excluded full-time remote workers.

Find more results of the Global Workplace Survey 2024 at Gensler Research Institute.

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David Smith, head of Americas Insights, Cushman & Wakefield, stated:

Cushman & Wakefield has not been naïve about the current state and future of office in North America. Rather, the company, dating back to 2020, recognized that increased remote work would create sustained impacts on occupier demand, and that the nature of office would need to evolve as a result. We also anticipated that some portion of existing office stock would be obsolete, that the glidepath to recovery would take some time, and that owners should be realistic about the outlook for 2024.

Acknowledging those headwinds, this report examines several positive factors that are working in favor of a recovering office market.

1. The population out-migration trends in large cities that accelerated early during the pandemic are returning to long-term norms. While the pandemic disproportionately impacted urban cores of cities, some of the demographic shifts at the height of the pandemic were temporary. Stated another way, people still want to live in large, vibrant cities.
2. The supply-side boom is quickly unwinding, and new office deliveries will be historically low in the middle of this decade. Top-tier office product is very much in demand. Less new construction will be delivered, however, welcome opportunities arise for renovated offices and assets slightly further down the value chain.
3. Occupiers have been right-sizing their portfolios, but much of the effects of increased remote and hybrid work environments have filtered through the system.

Although increased remote and hybrid work is shifting occupier demand, and reducing willingness of employees to commute, much of that impact has already filtered through the system. Portfolio right-sizing will moderate in coming years. Occupiers are committed to the office as a part of their business strategy, even if they are offering more employee flexibility than they did five years ago. The office is still a central part of the economy and a driver of productivity, career development, culture and innovation.

Office employment declined in the second half of 2023; it is still 1.9 million jobs above its pre-pandemic level. Once it resumes growing, look for occupiers to need more office space for their growing workforces.

“As we adapt and recover, we’re seeing some bright spots for urban office markets,” said Smith. Occupiers and employees are adjusting, supply is adapting, and the economy will create jobs in the coming years.”

Visit Cushman & Wakefield to download the full report, The Bright Side of Office: Opportunities in the Urban Core.

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The annual survey reflects workplace and occupancy insights from 66 CBRE clients that own or occupy almost 350 million sq. ft. of office space around the world.

Because of hybrid work, employees are more likely to share space or use different work environments for collaboration or focused work when they come into the office. Therefore, organizations are prioritizing shared space over private workspace to make the office more effective.

Survey respondents have increased collaborative, “we” space to 20% of their office square footage in 2023 from 14% in 2021. Such collaborative space can include conference and meeting rooms but also lounges with communal couches for trainings or other social events.

In turn, companies have downsized private, “me” space to 45% in 2023 from 56% in 2021. Private space often entails private offices and assigned workstations.

Susan Wasmund, CBRE’s global leader of Occupancy Management, pointed out:

The demand for office space is no longer driven by the number of employees a company has. Instead, it’s driven by a combination of office policies and employee behaviors, which is why corporate real estate leaders are so focused on understanding office attendance and how the space is being used.

Companies are redesigning their office space to specific industry needs. For example, respondents from Financial & Professional Services companies said 13% of their office space is dedicated to amenities — a 120% increase since 2021. Meanwhile, respondents from Industrial & Logistics and Life Sciences companies increased collaboration space to 20% and 30%, respectively, of their total office space, representing increases of 121% and 63% from 2021.

Lenny Beaudoin, CBRE’S global leader of Workplace Strategy, remarked:

New workplace designs focus on balancing the flexible use of space while creating a great destination. This means providing more choice to employees, but also providing better means to socialize and collaborate in the office. This desire is clear in our research. Companies can create a more positive and productive working environment for employees and their business by designing their office spaces to incorporate these trends.

In 2024, CBRE expects companies to continue increasing space sharing, which allows more people to be assigned to an office location. Along the same lines, companies will likely dispose of space that’s not being used effectively to ensure the office supports both business and people goals.

Other insights from the report:

• Most companies (76%) indicated that investing in technology is their top strategy for supporting hybrid work.
• Tracking security-badge swipes (96%) is the leading method for monitoring if office space is being used effectively.
• Companies ranked their top portfolio-optimization strategies as increasing space sharing (82%), disposing of underused space (75%) and accommodating headcount growth in their existing office space (67%).

Download the full report, 2023–2024 CBRE Global Workplace & Occupancy Insights, at CBRE.

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