Corporate office tenants are likely to begin instituting renovations over the next few months as they gain a better sense of what employees expect out of a return to physical work⁠—but they'll likely do so in small ways designed to have a big impact.

"In a hybrid world, the reality is that most spaces opened before 2020 are simply not designed to support new work dynamics and to fully enable innovation, collaboration, and socialization," said Michael Casolo, Chief Revenue Officer at global workplace strategy, design and construction firm Unispace. "That being said, the vast majority of companies are taking a 'wait-and-see' approach before instituting major design changes to their offices to reflect its new purpose."

In light of the fact that many workers now eschew the "old way" of physical work, Casolo notes that companies are initially starting with small, flexible design changes and seeing where they lead.