Major Study Reveals Companies are Increasing Investment in Offices to Encourage Return to Work

• Half of firms surveyed plan to improve on-site experience in the year ahead, with 60% investing more in staff wellbeing, Verdantix report says
• Space monitoring software will help companies to optimize their offices for an era of hybrid working

Companies are increasing investment in their office spaces to entice reluctant employees to return, a new report from leading independent research and advisory firm Verdantix shows (please see the attached press release). 

Verdantix interviewed 350 real estate and facilities budget holders across North America, EMEA and Asia-Pacific businesses with annual revenues of at least $250 million.  Six out of ten (61%) have annual revenues of more than $1 billion.

Its study found 50% of respondents will expand or initiate activities focused on improving employee on-site experience in the year ahead. These efforts aim to encourage staff back into the office following a post-pandemic preference for working from home and the rise of ‘hybrid’ working.

Over 60% of real estate managers seek to support staff health and wellbeing in the workplace, with survey respondents in the financial, real estate and the health care sectors planning to do the most in this area.

The Global Corporate Survey 2022: Smart Building Technology Budgets, Priorities & Preferences found that 43% of firms are spending on software that helps reassure staff it is safe to return to the office and 48% plan to increase such spending. That includes software to monitor the use of office space, which helps real estate and facilities executives to adapt the space accordingly. This trend has seen a growth in apps offering access to office amenities, such as coordinating attendance with work colleagues. A positive by-product is an improved workplace experience. Another key finding is the growing preference for partnering with multiple software vendors, rather than an all-in-one package. Real estate executives seek best-in-class functionality as they adapt to market trends. They want immediate insights into issues and seek to work with vendors who can offer state-of-the-art applications, such the ability to process data at the point of source through edge computing.