{"id":1004713502,"date":"2024-05-14T04:23:04","date_gmt":"2024-05-14T12:23:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004713502"},"modified":"2024-05-14T06:06:15","modified_gmt":"2024-05-14T14:06:15","slug":"how-the-tech-sector-works-to-balance-return-to-office-costs-of-space","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/","title":{"rendered":"How Tech Tenants Grapple With Return-to-Office, Costs"},"content":{"rendered":"\n

A new survey from JLL examines, among other issues, the struggle for tech talent, how companies are working to optimize their spaces and the role of venture capital, across 17 U.S. metros, plus Vancouver and Toronto. JLL\u2019s markets perspective on the technology industry report<\/a> is being released today.<\/p>\n\n\n

\n
\"John
John Leddy, managing director with JLL\u2019s Technology Division and Semi-Conductor Manufacturing Team, is among the report\u2019s authors. Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n

Perhaps the study\u2019s most noteworthy theme, however, is how tech companies are, on one hand, pivoting away from remote work and toward a return to the office, even as they often struggle to balance priorities regarding utilization of space and reducing space costs.<\/p>\n\n\n\n

Although tech companies rapidly adopted remote work during the pandemic, subsequent research began to suggest that \u201cin-office work better supports onboarding, mentorship, inclusion and engagement, and, in some settings, productivity,\u201d JLL reported.<\/p>\n\n\n\n

In 2022 and 2023, tech companies turned from advocating \u201cwork-from-anywhere\u201d policies, back to encouraging, even mandating, a return to the office.<\/p>\n\n\n\n

\n\n\n\n

READ ALSO<\/strong>: Designing an Office Experience That Feels Like Home<\/a><\/p>\n\n\n\n

\n\n\n\n

To quantify that, JLL notes that postings for fully remote jobs in the tech sector fell from 21.1 percent in October 2022 to 12.1 percent in March 2024. Nonetheless, postings for remote tech industry jobs are still more common than they are in other office-using industries, where remote jobs only comprised 8.2 percent of postings as of March 2024. <\/p>\n\n\n\n

\u201cMore tech companies are connecting compliance to hybrid policies (typically 3 days per week) to performance reviews. Foot traffic is increasing at tech offices: in the Bay Area, major tech headquarters have seen consistent growth in the return to office rate, with some exceeding pre-pandemic occupancy\u201d according to JLL.<\/p>\n\n\n\n

All tech companies in the Fortune 100 have a hybrid policy, typically 2 to 3 days per week, JLL found.<\/p>\n\n\n\n

The report remarks that tech occupiers are striving to use hybrid work as an approach for decreasing their office footprints and thus costs. However, they still need to balance return-to-office requirements, possibly subleasing space and giving employees flexibility.<\/p>\n\n\n\n

Utilization and collaboration<\/h2>\n\n\n\n

Alongside efforts to get more employees into the office<\/a>, at least for a few days each week, more companies in the tech sector are using metrics such as utilization data in their space planning. In this survey, 80 percent of tech companies responding said they apply such data to their space planning, versus 63 percent five years ago.<\/p>\n\n\n\n

Finally, JLL commented that \u201creducing footprint also pushes employees into closer proximity, which could increase sense of belonging and serendipitous connection.\u201d<\/p>\n\n\n\n

But although collaboration is important, so too is having quiet space; the report says 35 percent of tech companies in the survey increased their amount of \u201cfocus space\u201d in the past year.<\/p>\n","protected":false},"excerpt":{"rendered":"

A closer look at the sector\u2019s efforts to balance competing priorities, according to new JLL research.<\/p>\n","protected":false},"author":882,"featured_media":1004713519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21808,23891,21742,21747],"tags":[32796],"class_list":["post-1004713502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-featured","category-national","category-latest","category-office","tag-jll"],"acf":[],"yoast_head":"\nHow Tech Tenants Grapple With Return-to-Office, Costs - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Tech Tenants Grapple With Return-to-Office, Costs\" \/>\n<meta property=\"og:description\" content=\"A closer look at the sector\u2019s efforts to balance competing priorities, according to new JLL research.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-14T12:23:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-14T14:06:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/John-Leddy-JLL.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/\",\"name\":\"How Tech Tenants Grapple With Return-to-Office, Costs - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/John-Leddy-JLL.jpg\",\"datePublished\":\"2024-05-14T12:23:04+00:00\",\"dateModified\":\"2024-05-14T14:06:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/how-the-tech-sector-works-to-balance-return-to-office-costs-of-space\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/John-Leddy-JLL.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/John-Leddy-JLL.jpg\",\"width\":800,\"height\":600,\"caption\":\"John Leddy, managing director with JLL\u2019s Technology Division and Semi-Conductor Manufacturing Team, is among the report\u2019s authors. 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