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Companies are expanding offices for the work-from-home workforce

The Future. Work-from-home setups may be the du jour, but big companies are actually buying or constructing more office space in order to cater to their employees’ desire to come in at least once a week for facetime with colleagues and higher-ups. In this new work world, offices may be less of an individualized workstation and more of a curated center for team building.

Office uprising
Remote work is here to stay… but so are offices.

• That’s because companies are discovering that employees want to come into the office at least one day per week for meetings, career development, or socializing.
• That’s especially true of Millennial and Gen Z workers, with 45% saying facetime with managers in person can lead to getting a leg up in their careers.
• Conversely, 40% say that they feel pressure to show up at the office even though they are allowed to work remotely.

Collab central
Considering their employees’ needs, companies are adjusting to the new hybrid mentality.

• Despite moving to a mostly work-from-home setup, companies such as Dropbox, LinkedIn, and Block are buying more office space.
• The offices are also being retrofitted to better cater to more collaboration as opposed to individualized work.
• Some, like Twitter, are opening smaller satellite locations to expand their international presence and provide a hub for traveling employees.

And the construction of more office space is coming at a great time: unlike the housing market, the corporate-leasing market is extremely affordable. So, companies are taking advantage of the low costs to either buy out existing leases or snap up new real estate.