HICKEY, alongside The Instant Group, released their latest research report on the future of the office, Rise of Suburbia: Is the Hub & Spoke Model Realistic? With corporate headquarters footprints expected to reduce by as much as 40%, the role of the head office is shifting to focus more on collaboration and a place where teams can connect, rather than a traditional office.
As this comes to the fore, the concept of a hub and spoke model, with a greater regional presence, will become increasingly popular, forcing many businesses to take a more dispersed portfolio approach. In some cases, the reduced capex required to keep a large presence in the key cities could lead to savings of up to 23% for businesses, by taking a more considered approach to the needs of their employees and adopting a ‘rightsize’ approach.
According to the report, the pandemic and the change in the way people work has fast-forwarded thinking by five years. With lockdown restrictions starting to ease, focus turns to how businesses can get employees back to the office – employees want a different office model now based on having much more choice and flexibility in the way they work. Per the Hickey/Instant research, as much as 57% of employees want an office that is closer to their home.
Learn more about this new office reality by downloading the report today.