Issue link: https://resources.tangoanalytics.com/i/1467811
4 THE SOURCE | THE EXECUTIVE'S GUIDE TO THE HYBRID WORKPLACE scooping up your best prospects or even poaching your employees. In the past, it was often inconvenient when a job candidate wanted to work remotely. But with the wealth of remote collaboration tools and the normalization of working from home, your in-person employees are likely already used to working with peers, superiors, and subordinates in virtual formats. Companies used to compete for talented employees by offering bigger and better amenities, transforming the office into a space people felt like they never had to leave. But for many of the most in-demand people, the most appealing companies to work for aren't the ones that keep them on campus more. They want to work for businesses that empower them to live the life they want, where they want it. Some people want to uproot their lives and start over in a new city. Others want to keep their kids in the same school, stay close to friends and family, and continue living in the same community. A hybrid workplace lets your company appeal to both types of people, making your job offers more competitive than those from fully remote or traditional workplaces. Use your space more creatively In-person employees need workstations. By shifting some of these employees to remote work, you need fewer workstations, so you can allocate this space for other purposes. Facilitating a hybrid workplace makes it easier to pivot plans and reconfigure space to accommodate changing goals, spontaneous needs, and increased demand for specific types of spaces (such as conference rooms or "neighborhoods" where teams can collaborate). The challenge of space utilization Given the scale of real estate costs, many enterprises are beginning to see the value of workspace- optimization metrics. If you want to maximize the value of your business's real estate investments, you need a plan for space management. The more you can keep space occupied and in use, the less you'll waste this resource. However, if a space is constantly occupied, that's a sign that you likely need more of this type of space. It's being used so frequently that not everyone who needs to use it can. This is especially problematic if you have other spaces with high vacancy rates, indicating there's not as much demand for it. Managing a workplace with virtual and in-person employees adds another dimension to the challenge of space utilization: your demand for space tends to fluctuate more. This is particularly true if your hybrid workplace offers employees maximum flexibility, as it's harder to predict when employees will be in the office or not. This can lead to businesses having far too much or too little space set aside for hoteling. The more variable your demand for space is, the harder it is to manage your static supply of it. And that's why having an integrated workplace-management system (IWMS) is more crucial than ever. A must-have solution IWMS software isn't new. But as workplaces evolve, so are the tools enterprises use to manage them. And as the way you use your space becomes increasingly