The Great Resignation & Your Office Space
Find Great Space That Attracts and Keeps Talent, and Your Business Might Just Survive the Great Resignation
The Great Resignation trend started in early 2021 when a record number of Americans began quitting their jobs. Of the 47.4 million employees who voluntarily left their positions, a large number left the workforce altogether. To retire early, to care for family members, or to reassess their life goals. This has left a gaping hole in the workforce, driving employers to reevaluate how they use their real estate to attract and keep talent.
For workers who are resigning but staying in the workforce, there are a multitude of reasons that they are jumping jobs. Many are looking for the flexibility to work remotely while others are seizing the opportunity to find more lucrative positions in a competitive job market. But no matter the reason for this wave of resignations, there is one thing for certain: businesses are now left wondering how to move forward.
“Do we expand? Contract? What do we do when our lease is up? And how will my space make a difference to employee attraction and retention?” To answer these questions, we came up with three things businesses can do right now to plan for the future in the midst of the Great Resignation.
Hiring in the Great Resignation Tip #1: Get Aligned on Your Work-From-Home Policy
The first step employers can take is to create alignment with company leadership on your remote work policy. In today’s world, many companies are trying to determine which workplace model (in-office, remote, hybrid) works best for their company’s needs and for their employees. It’s critical to get alignment within your leadership team on whether you are offering employees the ability to work from home full-time, part-time, or if they will be required to be in the office each day. Once your policy is established, it’s important to communicate these decisions to your employees and let them know how it will impact each of them.
Hiring in the Great Resignation Tip #2: Find a Location with Great Access to Amenities
Employers should try to find a work location that has both proximity and accessibility to great amenities. Specific building amenities, such as coffee and food, as well as surrounding neighborhood amenities, can be important factors for employees. If you are working in a vibrant area of town with access to great restaurants, coffee, and more, both in and around your building, it will be easier for your employees to get motivated to leave their homes. Coming into the office will mean being in an area they already want to be in.
Hiring in the Great Resignation Tip #3: Design a Space that Employees Want to Come To
Now more than ever, it’s important to design a working space that employees want to come to. You must be able to offer your workers a place that provides them great functionality with benefits that they don’t have while working from home. Your office should be able to accommodate small break-out meetings, larger team meetings, and be an easy place for employees to gather with one another. Additionally, it should offer employees the ability to function in a working world where most meetings are virtual. Outside of the physical layout, it is also critical to have an environment that creates a positive and fun work environment for those who are showing up at the office.
Is your business looking to reevaluate its real estate needs? Reach out to a Rokos broker today. We are happy to help you navigate the future of your office space.
Rokos Advisors is an award-winning Minneapolis – St. Paul-based commercial real estate/tenant representation firm specializing in helping businesses find the perfect office or industrial space for their company.