As of April 2022, the Seattle Metropolitan Area has added over 36,000 additional jobs since it reached its pre-pandemic peak level in March 2020, with these positions spanning professional and business services, information and finance. Technology-related employment alone has experienced a 51.4% increase from 2010-2021 due to an extreme uptick in venture capital (VC). Funding rounds have increased 91% since 2019 to $19.9 million, which is the fastest VC growth of any metropolitan area in the U.S.
While the city’s workforce is now larger than it was when shutdowns began, there are shifting priorities for employees with how and when to use the office, and for employers, a shift around how to meet their employees needs with regard to the office. For most companies, transforming the office into more of a dynamic community and a destination will pay off.
Adopting a holistic approach to support health and wellbeing
After watching the past couple of years unfold, workers now have higher expectations for the support they receive. The pandemic took a hefty toll on our collective mental, physical and social health, and employers have the opportunity to embrace this in a way that’s both transparent and genuine. Working environments must be more human, resilient and respectful of health to motivate employees and ensure they’re set up for success.
The physical design of an office and the amenities on hand also play a crucial role, as the post-pandemic workforce is heavily prioritizing relaxation spaces, nutritious food services and outdoor spaces, among other perks. It’s clear that the flight to quality is at an all-time high, especially in Seattle, where class A office space comprised 93% of Q1 2022 leasing activity.
However, simply providing an outstanding office space is not enough to holistically address employees’ shifted desires. Our team at JLL surveyed over 3,000 office workers across the globe on their post-pandemic preferences and discovered that the number one priority is work-life balance.
Upholding flexibility and proper work-life balance
In this same survey, 88% of the respondents indicated that more flexible working patterns have become a “must have” in the employee package. A vast majority of today’s workforce desire the freedom to pivot from working at home, going into the office or setting up shop at a third-party coworking space for the day. Hybrid working is key to meeting employees where they are, with the most common approach being a 3-2 model. Embracing these hybrid structures is vital as the world continues navigating the unknowns of the pandemic.
Promoting company connection for a unified culture
Higher levels of employment lead to a “talent war” of sorts and maintaining a robust culture amongst employees is critical for attracting and retaining top talent. Many leaders agree that connections and friendships between employees and management is one of the largest factors leading to high retention rates.
We as humans have an innate desire for social interaction and fortunately, this desire can still be fulfilled in a hybrid environment. Setting up regionalized channels within your company’s internal messaging platform is a great way to help keep employees in touch with one another. Regularly holding monthly or quarterly offsite and in person activities, both locally and regionally, promotes face-to-face interaction and is another surefire way to keep employees connected.
Companies have more opportunity than ever to understand, address and help employees overcome lingering ramifications from COVID-19, and can do so by harboring “human first,” flexible and worker-centric environments.
We’re here to help your workplace strategy. Contact Adam Chapman ([email protected]) or Blair Stern ([email protected]) with any questions or to learn more.
Adam Chapman (Managing Director) and Blair Stern (Senior Vice President) at JLL specialize in tenant representation for technology and life science companies. Their extensive experience structuring flexible, cost-efficient real estate solutions, have resulted in a long track record of successful negotiations on behalf of their clients.
