Society's Rethink: Work And Office Real Estate

Society's Rethink: Work And Office Real Estate

Historically, Japan’s work culture has revolved around constant face-to-face interaction, and employees have been judged on the hours they put in, rather than their output. The Japanese work culture is based on aconcept known as ho-ren-sou, an acronym for report-inform-consult. Rather than being given discrete tasks and the autonomy to execute them, subordinates are expected to consult with managers, in person, every step of the way. However, in May, Hitachi announced a new set of policies that encourage telecommuting, enabling workers to work at the office just two to three days a week, even after the coronavirus pandemic ends. The policies,which apply to about 70 percent of the domestic workforce (23,000 employees), will have the company assess performance based on results rather than hours worked. Another long-held tradition in the Japanese culture is exchanging business cards while face to face. Business leaders, government officials and others almost always give the cards to individuals they meet in person. In May, the Japanese government offered guidelines for conduct and urged people to accept a “new lifestyle” to battle the novel coronavirus. One part of the guidelines supported the exchange of meishi, or business cards, online. These striking changes in Japan illustrate how countries, companies and individuals are reassessing previously held beliefs and rethinking long-held ideas, including about how and where people work. The changing nature of work has already impacted office real estate globally, and recent facts and events suggest that for office workers, the nature of the “office” is fundamentally being rethought, with traditional full-time work in a traditional communal office unlikely to revert to pre-pandemic levels anytime soon.

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