Power Reads: 5 Interesting Articles That Will Help You This Week

Each week, I select a few articles that rise above the fray and hopefully help you on your journey in leadership and the CRE world. They pull from one of four "corners": corporate real estate, technology, management science and anything positive. Each day we can become a better version of ourselves.

1. How to Know When Switching Jobs Could Get Harder

Nearly every labor indicator suggests the hottest job market in half a century is starting to cool as signs mount that U.S. economic growth is slowing.

“Employers are still hiring and layoffs are low, but the labor market is likely past its peak as the broader economy slows and could even contract in the second quarter.”

A labor-market slowdown means fewer opportunities for workers. At the same time, it is good news for Federal Reserve officials: The central bank is ratcheting up interest rates to bring down high inflation, and its officials say demand for workers also needs to come down to bring stability to prices.

2. Workers Don’t Feel Quite as Powerful as They Used To

Becca Smith will be back to work in no time. Laid off from her sales position at a startup a couple of weeks ago, she says she’s received more than a dozen inquiries from recruiters in response to a LinkedIn post about her job loss.

“Yet something has changed since the 40-year-old Indiana mother started at her former employer last summer. Back then, she was determined to work from home—and felt sure she could get her way. She also had the confidence to join a fledgling business amid a roaring economy.”

No more. “I will give priority to larger, more-established companies for this job search,” says Ms. Smith, whose old company was venture-funded and cut about one-third of the team to conserve cash. She adds she’ll consider reporting to an office part time. She’d also like her next job to involve selling a product customers need even in bad times, rather than a luxury that could get cut from the budget when money is short.

3. Office Occupancy Hits 44%, Its Highest Point Since The Pandemic Began

There is a long way to go, but a national report shows employers are making progress in their efforts to get workers back in the office.

“Average office occupancy in 10 major U.S. metros came in at 44% of pre-pandemic levels during the first week of June, the highest mark since the pandemic began in 2020, according to Kastle Systems. The week before occupancy was 41.2%, a drop from previous weeks in May that probably reflected the Memorial Day weekend.”

Metro Austin leads the country in office occupancy at 61.3% and remains the only city on Kastle’s 10-city Back to Work Barometer to have risen higher than 60% occupancy.

4. These are Gen Z’s top work priorities—and remote isn’t one of them

In the past few years, workplaces have changed significantly due to the Covid pandemic. Employees had an increased need for different perks and support like hybrid and remote work, child care, and expanded health benefits. Though many of these remain a priority, for Gen Z, expectations for the workplace have changed significantly, according to a survey from the National Society of High School Scholars (NSHSS).

“The 2022 Career Interest Survey from NSHSS dives into the “career motivations” for the next generation of talent, members of Gen Z, which includes individuals born between 1997 and 2012. The survey reveals the concerns and preferences of 11,495 diverse high school and college-aged people.”

According to NSHSS, workplace equity is a non-negotiable for Gen Z talent, and Covid concerns aren’t as prominent as they were in the last two years.

5. The future of the office is an open question, but this company is testing 3 designs to figure it out

As a company that specializes in tests and measurements, NI is used to figuring out how to gauge things. From oscilloscopes that track changes in electrical signals to monitors that sense the tiniest vibrations, its products weigh and quantify with precision. So when the company set out to renovate its aging offices in Austin, Texas, no new design was going to slip past its scientists and engineers without some scrutiny.

“The test-centric nature of the company has become part of a unique new design process that could be a model for how offices get designed in a pandemic-inflected world.”

Working with the global architecture firm Gensler, NI is currently testing out different prototype office designs ahead of a grand renovation of its headquarters. Through detailed analysis and feedback, the company and the designers will measure each of three different layouts built into a corner of one of its buildings and then use that data to determine a wider rollout.

Your success blesses others. I wish you a great and hugely impactful week!