Michele Harmon
Where will employees want to live and work?
Time to drop a pin: Work-life balance has changed, and workers are in the driver’s seat. High wages in the Permian are commonplace, but the work-life saga is coming to a town near you, even in Timbuktu. Those companies and locations that are forward-thinking may be the most successful in recruiting and retaining a stable workforce. Lastly, who thinks we need to build more buildings or do a little remodeling of the old ones?
Can employees live wherever they want to and keep their current jobs? Everyone loves the story of Goldilocks and the Three Bears; we all need to feel safe and have shelter from the cruel outside world. An additional, essential part of Goldilocks is the principle of three. One is too hot, one is too cold, and one is just right.
In October, the Labor Department reported 183,000 workers dropped out of the workforce, and there are five million fewer Americans in the workforce, with three million of them just dropping out since the pandemic. Blame whomever you want for the worker shortage, but there are jobs to fill, and employers need to be more flexible.
The shortage of truckers is acute, and mail and package delivery has slowed to a crawl everywhere. Everything has slowed down, and much of it is due to the lack of workers. Those of us that pay our way in the world will be the ones paying more for everything.
With advances in technology and the ability to work from anywhere, there is a chance the office workforce of today and tomorrow will live and work where it is just right for them. That may mean working from home more often and just going in for team meetings and meeting with clients.
Price Waterhouse Cooper (PwC) has decided to allow 40,000 client services employees to work from wherever they choose. According to their Chief People Officer, Yolanda Seals-Coffield, We have learned a ton through the pandemic, and working virtually, as we think about the evolution of flexibility, is a natural next step. If you are an employee in good standing, are in client services, and want to work virtually, you can, full stop.
Deloitte and KPMG are allowing more employee workplace and work balance choices. Others, like Dell, have been allowing this type of flexibility for years. It may mean a shorter workweek in the office because the workforce has proven that meetings can go well, even on Zoom or whatever ,may be your choice of meeting software.
When push comes to shove, today’s workforce, even those of us in our 60’s, kept working through this pandemic, and yes, there were workers promoted and workers fired. Not showing up was no longer an option—there was no more saying that your car would not start.
A new and exciting trend rewards workers who can work anywhere, choosing to move to and live in a less populated area of the United States. Cities are providing incentives to get Gen Z and Millennials to move to their area. Some get monetary rewards, but many young people choose the opportunity to get out of expensive cities and live in smaller and, most importantly, less expensive parts of the country. At 25 years old, I never would have left Houston, but times were different then. Is it possible that the world of work we knew is gone forever?
The interesting thing about a worker who chooses to move to a less expensive location is that the company they work for may want to cut their pay. This has become an ongoing discussion in HR and corporate circles. For years, in the Permian, we have known that we must pay more and provide better overall compensation to recruit and retain quality employees.
If office workers no longer have to be at an office five days a week, what will become of all those shiny expansive buildings and big offices? Is it a stretch for my readers to wonder if we need new buildings, or will there be plenty of office space available? Today, going in and out of various offices in the Permian is like visiting a ghost town. There are names on the doors but few or no people.
Another issue is the question of where will the builders get enough building materials? In Houston recently, a home of more than 4,000 square feet was reframed entirely because the wood in the first framing rotted due to a lack of building materials needed in the next step of the process.
Why would any organization say they needed to have a new space large enough to house all their employees when Gen Z and Millennials want flexibility in their work schedules? Who wants to drive in traffic in Austin or Houston five days a week, just for the coffee bar that has disappeared due to health concerns? Many Fortune 500 companies whose office staff and leadership are working from home most of the week are thriving.
So why build new buildings? Maybe Austin is the exception.
The Texas Teacher Retirement System, TRS, will build a new office to house their Austin staff. The new building will be in what is known as the Mueller Business District and will cost no more than… $300 million?
Two new government buildings will open in 2022 in Austin, one being the Barbara Jordan State Office Building and the other being the George H.W. Bush State Office Building. According to the Austin American Statesman of Sept. 15, 2021, the project is part of an $895 million project to bring state employees closer to the Capitol. Two more government office buildings will be completed by 2025.
Austin has also had ten new downtown buildings opening in 2021: Indeed Tower at 200 W. 6th St., 300 Colorado, 405 Colorado, 1836 San Jacinto, 701 Rio Grande, 93 Red River, 5th and Brazos, 700 E. 11th St., Block 36, and 721 Congress Ave. These are a mix of office, residential, and hotel spaces.
Who knows what the traffic will bear, but I am betting on more work from home—or the mountains—with the internet available to all. And less time commuting because we all know it can work and work well. Who thinks we need more brick-and-mortar buildings? There will be people who will go to work every day and others who will work from just about anywhere.
The future will be a hybrid work environment, not too hot and not too cold, just right. Embrace it. After all, Captain Kirk finally got beamed up at 90 years old. What will the future be like?