Daily Digest News – November 20, 2020


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Here’s what you need to know today:

Ucommune Begins Trading On The Nasdaq

China-based shared workspace operator Ucommune has completed a backdoor listing in the U.S. after failing to file for a traditional IPO earlier this year.

The deal led to the listing of Ucommune International Ltd. as an already-listed shell company, also referred to as a special purpose acquisition company (SPAC). The company is now listed on the Nasdaq as of Thursday.

Three months ago, Ucommune walked away from its application for a $100 million IPO on the New York Stock Exchange after investors expressed concerns over the company losing money and its valuation, particularly as the market faced a downturn due to the pandemic.

Credit: CX Tech – Ucommune

Hybrid Work Policies Will Be Key In The Future

A new survey conducted by design firm Gensler indicates that the belief that the office is dead is farfetched.

In fact, over 67% of respondents said they would prefer a hybrid work arrangement, allowing them to spend between 1 and 4 days in the office weekly.

Those who have access to the hybrid model are experiencing a boost in creativity and well-being, which has increased their job satisfaction.

As companies prepare for a future sans pandemic, workers are increasingly eager for increased flexibility.

The survey found that those who worked in the office full-time spent at least 65% of their time collaborating and socializing, compared to only 37% when working from home.

That is why the hybrid model provides a better solution for productivity and even mental health issues for remote workers. It also gives employees the freedom to experiment with their own schedule, and identify which work style best serves their productivity.

“The world has changed, but one thing is clear, 4 out of 5 respondents do want to return to the office in some way each week and 67 percent of the UK workforce want the flexibility to choose not only where they work but when they work there,” said Julia Simet, Managing Principal. “The hybrid model will demand that workplaces are designed to optimise the activities and experiences of their employees that cannot be fulfilled at home. Places of work will need to serve workers and organisations by bringing their people together and facilitating the connections that inspire creativity, innovation, learning, growth and belonging.”

Credit: Bigstock

The Office Sector Should Take Notes From Retail

The commercial real estate industry has done very little to adopt modern technologies over the last few decades, but when the pandemic hit, the office sector in particular was accelerated into the future.

Much like retail has had to adapt to the increased demand for ecommerce in recent years, offices are looking towards a hub-and-spoke model as demand for flexibility grows.

So what can those within the office industry take away from retail companies who have mostly made the transition to omnichannel?

Retail storefronts who made the shift to ecommerce quickly realized there was value in having a brick-and-mortar. Similarly so, offices will adapt to employees who want the flexibility of working at home, in a satellite office closer to home or in the company’s main headquarters.

According to a survey from PwC from June, although employees are enjoying the ability to work from home, they still want an office to connect with their colleagues. This indicates that real estate, human resources and IT teams will need to work in tandem to improve workplace operations.

At a company’s “hub”, employees can expect amenities, collaborative areas and touchless technologies for a seamless experience.

Today’s workforce wants a choice in when and where they work, with the ability to adopt flexible schedules to better suit their daily needs. Understanding that there is no one-size-fits-all solution is the first step in creating a better work atmosphere for employees. 

Credit: Bigstock

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