Special report: How the ‘Future of Work’ is changing company approaches to space, place

Editor’s Note: This week, WRAL TechWire launched a new series, the “Future of Work.” Over the coming weeks, WRAL TechWire will release additional reports and stories that follow what’s happening in today’s economy, in the new world of work, and on the future of the Triangle. We’ll delve into the sectors of the commercial real estate markets across the region, investigate how companies are reimagining their spaces and workplaces, and study how the region’s status as a global leader in biopharmaceutical manufacturing could impact other parts of the local economy. The Future of Work series is supported by commercial real estate firm JLL and other partners. The first report is here, and the second story is here.

+++

RALEIGH – The future of work depends on space, place, and people. That’s one early theme of the new WRAL TechWire series, the “Future of Work,” which launched this week.

In the first report, WRAL TechWire noted that there is high demand for high-quality space across the Triangle’s commercial real estate markets, including in each segment of the market. In reporting for the series, WRAL TechWire spoke with and interviewed Brett Cox, research manager at JLL, and Kimarie Ankenbrand, managing director and Raleigh lead at JLL.

Ankenbrand told WRAL TechWire that the Triangle is in the early innings of its economic growth. WRAL TechWire reporter Jason Parker asked John Mikels, a director of capital markets for JLL, about this description of the region during a LinkedIn Live broadcast earlier this week.

Mikels noted that investors are drawn to the Triangle because they believe there is ample “room to run,” and the region is seen as an attractive one given the pace and quality of economic development and current lease rates across multiple sectors of the commercial real estate markets in the region.

Special report: Space in high demand, even as future of work remains uncertain

What workers want

But there’s another component of the economy that may drive the future of work: workers.

As companies face a competitive labor market, with more than 50,000 open positions in the Triangle alone, they’re rethinking and reimagining their spaces, their places, and their work policies. Take Cisco, for example. The company told Bloomberg this week that they will change how employees are compensated, and are rethinking the location, structure, and layouts of their office facilities across the nation.

According to Courtney Fain, a vice president of workplace planning and strategy at JLL, most of the firm’s clients are seeking facilities that can be designed specifically to optimize employee experiences. That means that companies are seeking locations in places that will keep employees engaged during the working day, as well as providing easy access to in-demand amenities.

Next week, Fain will join WRAL TechWire reporter Jason Parker and JLL executive vice president Molly Glasgow to discuss what companies are doing to “pull” in workers to their offices, and what workers really want in today’s economy for an in-depth LinkedIn Live held on Tuesday, April 26, at 9 a.m. eastern time.

+++

This editorial package was produced with funding support from JLL and other partners. WRAL TechWire retains full editorial control of all content.