Lincoln Property Company’s survey provides
insights both office occupiers and office landlords should consider
when investing dollars in creating workplace environments that
appeal across generational cohorts
Lincoln Property Company ("Lincoln"), a global, full-service
real estate firm, today released its Office Views: What Employees
Value Most report, revealing that, contrary to common assumptions,
a majority of U.S. employees prefer to work in the office rather
than remotely. More than half of U.S. employees expressed interest
in working in-office four to five days a week, while less than 20%
expressed interest in working fully remote.
A survey of 1,000 U.S. workers, the first annual Office Views:
What Employees Value Most report provides valuable insights into
employees’ work preferences. The findings describe the value
different generations place on amenities common in modern workplace
design, comparing popular work/play amenities with more traditional
work motivations including dedicated/private workspaces, increased
compensation and shorter commute times.
The report highlights key considerations for corporate occupiers
as they continue to grapple with how to create office environments
that encourage in-office work in support of their firms’ critical
business initiatives.
Rob Kane, Senior Executive Vice President within Lincoln’s
Corporate Advisory & Solutions (“CAS”) group said: “Employees
across all demographics report that they want to work in an office
environment, but the current office trends aren’t necessarily
enticing them. These new insights give corporate occupiers an
important opportunity to rethink their office investments and
ensure the dollars they spend to create compelling workplaces align
with what their employees truly value.”
“The most important thing corporate leaders can do is listen to
their employees and avoid making assumptions that can lead to
ineffective, costly mistakes. We have worked with hundreds of
occupier clients across the country and across a variety of
industries and we know there is no one-size-fits-all approach.
Instead, we help put the focus on what employees care about, and in
doing so, ensure real estate investments serve as a strategic lever
to achieve broader business goals,” Kane added.
Deskside dynamics: The office reality check
In the post-pandemic work landscape, companies have made
substantial investments in shared spaces and high-end amenities
from catered lunches to modern outdoor spaces to entice employees
back into office buildings. However, Lincoln’s Office Views: What
Employees Value Most report finds that some of these investments
don’t necessarily align with features and resources that many
employees truly value.
Appetites for dedicated meeting spaces, social activities and
other shared amenities varied between generations and other
demographic cohorts, while traditional motivators including
increased compensation, workplace functionality, colleague
relationships and career development rank high among employees’
preferences when it comes to motivations to work in the office.
Across generations, dedicated seats and private offices emerged as
the most desired motivator, indicating a preference for
productivity, efficiency and a sense of belonging – even among Gen
Z respondents, who are most likely of all surveyed cohorts to value
work/play amenities.
“Employees’ strong preference for dedicated workspace
underscores the importance of corporate executives listening to
their workforce and prioritizing functional and supportive work
environments to boost employee engagement and retention,” said
Terence Kirk, Executive Vice President within Lincoln’s CAS team.
“Our survey suggests that continuing to invest in a plethora of
upscale amenities that don’t meet these core needs could be a
costly mistake for corporate occupiers.”
Career stage influences office work preferences more than
generational identify
While Millennials are often viewed as the top proponents of
remote working arrangements, the Office Views: What Employees Value
Most report shows this group and their Generation X counterparts
have a stronger preference for in-office work. Millennials (46%)
and Generation X (49%) expressed interest in working in-office four
days a week, whereas early-stage career employees value a hybrid
environment, with 55% of Generation Z respondents wishing to work
in-office one to three days per week.
By contrast, Baby Boomers had the strongest preference for
remote work, representing the highest percentage of fully remote
workers (19%) and expressing the strongest desire for full
time-remote work (23%).
“The report findings show that an employee’s career stage
significantly influences their preference for in-office work,”
noted Adin Perera, Director of Insights and Research for Lincoln,
and the lead analyst for this report. “Mid-level professionals
often seek the career development and collaboration opportunities
that only in-person work can provide, while senior or established
employees tend to value comfort and flexibility. Entry-level
employees appreciate some flexibility, but also tend to want to be
in the office at least some portion of the week to build their
professional and social connections.”
The commute clash: Road time hinders return-to-office
efforts
Amid broader calls to return to office, commute time for
employees is playing an increasingly crucial role. According to the
report, all cohorts place a high value on shorter commutes;
however, employees tend to be more idealistic than realistic.
Approximately three-quarters of respondents (73%) say they would
not consider going into the office if their commute was longer than
45 minutes roundtrip. Travel times this short are tough to find,
with roundtrips averaging more than 50 minutes nationally and more
than 65 minutes across the 15 largest office markets.
Generationally, Baby Boomers are the most averse to longer
commutes. More than 60% of Baby Boomers report commute time as
their most important location feature, with only 4% considering a
commute longer than an hour and fifteen minutes roundtrip.
“Location will become increasingly important for occupiers as
they evaluate office spaces, especially as employees weigh the
productivity of working at home against the time spent commuting to
the office,” Kirk advised. “At Lincoln, we spend a lot of time
understanding city demographic data to help guide our clients in
identifying the optimal locations for their office spaces,
carefully considering commute times and proximity to transportation
options to ensure they meet their workforce’s needs.”
Methodology
Lincoln partnered with Big Village to conduct a survey of 1,008
U.S. adults ages 21 and older who are employed full-time and work
outside the home in an office setting or only work remote. The
survey was live from June 11-17, 2024.
Lincoln’s Corporate & Advisory Solutions group provides
comprehensive real estate services tailored to the unique needs of
corporate occupiers. From strategic planning, site selection, lease
and transaction management, project management and facilities
management, Lincoln focuses on delivering the strategic real estate
solutions to enhance operational efficiencies and support corporate
goals.
To view the full report, visit
www.lpc.com/insights-research/officeviews. To learn more about
Lincoln’s occupier services, visit
www.lpc.com/what-we-do/occupy.
About Lincoln Property Company
Lincoln Property Company (“Lincoln”) is one of the largest
diversified real estate services companies with 35 offices across
the United States, the United Kingdom and Europe. Offering a fully
integrated platform of real estate services and innovative
solutions to owners, investors, lenders and occupiers, Lincoln
supports the entire real estate lifecycle across asset types,
including office, life science, retail, industrial, data center,
production studio, healthcare, government, universities, and
mixed-used properties, throughout the United States, United
Kingdom, and Europe. Lincoln’s combined management and leasing
portfolio on behalf of institutional clients includes more than 557
million square feet of commercial space. In addition to providing
third-party real estate services, Lincoln has completed over 150
million square feet of development since its inception in 1965 and
has another $20 billion currently under construction or in the
pipeline. For more information, visit: www.lpc.com.
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Media Contacts Christy Ingle Lincoln Property Company
cingle@lpc.com 949-751-9200
Unboxed Communications Lincoln@unboxedcommunications.com