New work practices and their drivers in FIREB firms: evidence from Hong Kong

Abstract

Purpose

Most global business organisations have begun to explore and embrace new work practices (NWPs) in reorganising their workplace strategies to enhance performance and face intense competition in the global market. This study aims to examine whether or not NWPs are being implemented in office occupying firms in Hong Kong and explore the drivers of the NWPs.

Design/methodology/approach

A total of 16 NWPs and 20 drivers were identified through the extant literature review and assessed through a questionnaire survey conducted in the finance, insurance, real estate and business (FIREB) service firms. Based on a comprehensive questionnaire survey, a quantitative approach was used to discover the occurrence of the NWPs in those firms and the driving factors. Based on the questionnaires retrieved, descriptive and inferential statistical analysis was conducted. The relationships between the NWPs occurrence and the driving factors were also investigated to draw necessary inferences.

Findings

The results showed that all of the 16 NWPs identified from the literature are happening in Hong Kong FIREB firms. The results of the analysis also indicated that virtual collaboration positively drive the occurrence of NWPs in FIREB firms. Interestingly, innovation in business was shown as such that does not necessarily necessitate stringent hiring strategy.

Practical implications

This research may be of practical value for workplace strategists to make better, more careful forecasts of future workplace trends to ensure resource utilisation and improve space usage patterns and employee productivity.

Originality/value

This paper presents comprehensive overview of drivers that designers, developers, investors, facility managers and planners can use to provide sustainable NWPs. The study will enrich the growing body of international literature on implementing NWPs in global business organisations.

Citation

Oladinrin, O.T., Jayantha, W.M. and Ojo, L.D. (2023), "New work practices and their drivers in FIREB firms: evidence from Hong Kong", Journal of Corporate Real Estate, Vol. 25 No. 3, pp. 205-228. https://doi.org/10.1108/JCRE-04-2022-0008