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The Federal ReserveThe Future of Work andEmerging Real Estate TrendsJLL ConsultingPeter MiscovichManaging DirectorStrategy Innovationpeter.miscovich@am.jll.comFebruary 2022
Peter Miscovich Bio SummaryBoard Member and Advisory RelationshipsPeter MiscovichExecutiveManaging DirectorStrategy InnovationMobile (646) 236-1577peter.miscovich@am.jll.com 2022 Jones Lang LaSalle IP, Inc. All rights reserved.AccentureGlobal Technology Vision Board MemberBROOKINGS InstituteMetropolitan Policy Program AdvisorCeresPresident’s Advisory Board Member Advisor CEO TrusteeColumbia UniversityData Science Institute Member and AdvisorCORENET GlobalEnterprise Portfolio Transformation Workplace Innovation Thought LeaderHarvard UniversityThe Future of Work Healthy Buildings Program AdvisorMIT Urban Planning & DesignMIT Sloan Management Real Estate Research ProgramRegional Plan AssociationSmart Work Urbanization Planning AdvisorThe Woodrow Wilson CenterSafe Smart Cities Program AdvisorUrban Land InstituteInfrastructure ICT Committee Strategy AdvisorWorld Economic ForumTransformational Energy Efficiency AdvisorWORKTECHWORKTECH Speaker/Thought Leader Advisor CEOAccentureBritish TelecomGoldman SachsProcter & GambleAIGCISCOHPSONYAmerican ExpressChubb InsuranceIBMThe World BankAT&TCitigroupJPMorgan ChaseThomson ReutersBank of AmericaDeutsche BankMetLifeUBSBarclaysFidelityPfizerWarner MediaBloombergGeneral ElectricPwCXerox2
“The Workplace You Need Now” Book OverviewPeter Miscovich “Future of Work” thought leader and co-author:The Workplace You Need NowShaping Spaces for the Future of WorkBy Wiley PublishingJLL BOOK N owWorkforce/dp/1119814804 2022 Jones Lang LaSalle IP, Inc. All rights reserved.3
Corporate Real Estate TransformationDigital Talent Strategies Workplace ExperienceEnables Exceptional Business PerformanceMulti-Dimensional “Hybrid” Workplace PilotsDiverse Integrated Workplace Program Experience(s)Integrated Human Machine Collaborative EcosystemsThe Future of Work is AI-enabled/Machine-enabledGlobal Behavioral Change Architecture/ManagementEnables Hybrid Workplace/Employee Adoption/SuccessBusiness, Workforce, Digital TransformationGlobal Real Estate Portfolio/Workplace Optimization 2022 Jones Lang LaSalle IP, Inc. All rights reserved.4
The Future of Work Requires Human-Centric Work DesignGARTNER: Action to Redesign Work for the Hybrid WorldMigration from Office-centric Design to Human-centric Design is the PriorityNew technologies, new ways of working and new management approaches needed to support healthy, productive and innovative employeesOffice-centric DesignAn On-site Model for an On-site World:The Location as the stable pillarwe design work aroundHuman-centric DesignA Hybrid Model for a Hybrid World:The Individual is the stable pillarwe design work aroundProvide Consistent Work ExperiencesWork design principle: Equality of experiencesProvide Flexible Work ExperiencesWork design principle: Equality of OpportunityEnable Serendipitous CollaborationWork design principle: Innovation by chanceEnable Intentional Digital CollaborationWork design principle: Innovation by DesignDrive Visibility-based ManagementWork design principle: Performance by inputsDrive Empathy-based ManagementWork design principle: Performance by Outcome 2022 Jones Lang LaSalle IP, Inc. All rights reserved.5
Employee vs Employer: Expectation Gaps Widen GreatlyGrowing expectations and disparity betweenwhat employees want and what employers viewas key priorities and what is most important1Employees want to be valued by theorganization and by their manager and havea sense of belongingEmployer's desire greater employee loyaltyand retention via development opportunitiesto combat accelerating employee attrition ratesHuman-Centric Design and EmployeeCentric Focus as business performanceimperative with growing “War for Talent”Digital Talent Talent Anywhere Strategies New Workforce Strategies @ e-choice-is-yours 2022 Jones Lang LaSalle IP, Inc. All rights reserved.6
The “Hybrid” Workplace Requires Technology InvestmentsHistorical Office/Workplace EnvelopeFuture “Hybrid” Office/Workplace EnvelopeHistorical office was focused upon individual workwith greater individual workplace allocationCollaboration al/LearningTraditional/Office Real Estate Portfolios providedinconsistent Employee Experience andsuboptimal Digital Employee Experience (DEX) 2022 Jones Lang LaSalle IP, Inc. All rights reserved.Collaboration SpacesAmenitiesNew Workplace TechnologyInvestments are RequiredGreater Digital Enablement enhancesHybrid Workplace Collaboration with improvedDigital Employee Experience (DEX)Future Hybrid Office serves as a Social Huband the primary place for Communication,Connection, Collaboration and Creativity7
The Hybrid Future of Work Requires a “Learning Mindset”Undertake intentionalexperimentation via piloting toenable diverse “consumerized”hybrid workplace behaviors tomake hybrid work successful 2022 Jones Lang LaSalle IP, Inc. All rights reserved.8
Integrated Hybrid Workplace Program Client ExampleEnterprise InputsWorkplaceTransformationBusinessDriversHybrid Work Hybrid Worker Hybrid ences Business Drivers andPerformance Objectives Workplace TechnologyInvestment Analysis Talent / Workforce / HRSensing Integration Cultural Assessment(s)& Analysis Hybrid WorkplaceProgram development Change Management Global/Regional CREPortfolio Transformation 2022 Jones Lang LaSalle IP, Inc. All rights reserved. WorkplacePerformanceMeasurementManagementFuture OutcomesBusinessOutcomesHR PoliciesHR Protocols Business Requirements Work Process Transformation Manager / Leadership Style Employee Engagement Culture Transformation Talent Recruiting / FlexibilityWorkplaceTechnologySolutions Digital Workplace Strategy Hardware Provisioning Technology InvestmentsHybridWorkplaceProgram What is the Purpose of the Office Hybrid Workplace Sizing Hybrid / WFH / Anywhere Strategy9
The Human-centric Digital Experience (DEX) Client Example01Omni-channelBankingCustomerValue DriversDigital EmployeeExperience DriversCustomer Experience (CX)Digital Employee Experience gyDigital First Platform(s)Human-centric tion04SmartWorkplaceSource: BANKBASE Banking 2025 – The Four Pillars January 2021 2022 Jones Lang LaSalle IP, Inc. All rights reserved.10
Digital First Talent Anywhere Integration Client ExampleDigital First Talent Anywhere Workplace Everywhere ModelOptimizeReal EstatePortfolio orkDigitalFirstDigital WorkplaceWorkplace AnywhereWorkplace Everywhere 2022 Jones Lang LaSalle IP, Inc. All rights reserved.WorkplaceWorkforceDigital WorkforceTalent AnywhereTalent Everywhere11
Health & Wellness Focus for the Regenerative WorkplaceCreate regenerative workplaces focusedupon workforce preferences, health andwellbeing to enhance human experience –and to achieve new levels ofhuman performance 2022 Jones Lang LaSalle IP, Inc. All rights reserved.12
The Regenerative Workplace Model Client ExampleMental HealthResilience traitsRisksPsychologicalSafetyMental IllnessMental WellnessFeeling ofInclusion in theoffice and remotelyAbility toAchieveMental AgilityPsychologicalinsecurity, anxiety,PTSD, depressionInequalityD&I issues,social & digitalinequalitiesExhaustionSkills inadequacy,blank page, lackinginnovation 2021 Jones Lang LaSalle IP, Inc. All rights reserved.Physical HealthSocial HealthResilience Solidarity,positive behaviorsSharedResponsibilitySocial responsibility,sustainable living,conscious lifestyleDecreased socialcohesion, ctResilience Traits esLifestyle behaviorsUnhealthyLifestylesStress, poor sleep& nutrition,no physical activityWork-lifeChaosWork outside ofbusiness hours,need to disconnectDisruptedroutinesNo breaks, backto-back meetings,virtual fatigue13
Evolving Future of Work Priorities for the FutureCommunityHow can we supportcommunity andconnectivity inperson ateSmart WorkplaceTechnologies 2021 Jones Lang LaSalle IP, Inc. All rights reserved.Well-beingHow do we respectand prioritize aholistic approachto health, wellnessand well-being?Assess Impactof ChangingWorkstylesExperienceHow do we createtrusted, meaningful,safe and engagingexperiences?Monitor EvolvingTalent/WorkforcePreferencesResiliencyHow will the futurereal estate portfolioenable agility,flexibility andresiliency?Learning MindsetsAdapt to WorkplaceDynamismDevelop/Test/LearnInnovate/Pilot NewWorkplace Models14
DISCUSSION 2022 Jones Lang LaSalle IP, Inc. All rights reserved.15
2022 Jones Lang LaSalle IP, Inc. All rights reserved. The information contained in this document is proprietary to JLL and shall be used solely for the purposes of evaluating this proposal. All such documentation and information remains the property ofJLL and shall be kept confidential. Reproduction of any part of this document is authorized only to the extent necessary for its evaluation. It is not to be shown to any third party without the prior written authorization of JLL. All information contained hereinis from sources deemed reliable; however, no representation or warranty is made as to the accuracy thereof.
The Future of Work Requires Human-Centric Work Design. Migration from Office-centric Design to Human-centric Design is the Priority. New technologies,newwaysof .
