This is the end of the office as we know it

• Before the pandemic, a lot of company management and leaders were skeptical regarding remote work. But the skepticism will go away because companies recognize that remote work does work.
• The economic impact of the pandemic will likely force employers to cut costs. They may reduce their rent by letting workers work from home instead of layoffs.
• Employers had to spend money on new technology and equipment to work from home - a departure from the norm.
• Employees themselves are also spending more money to create better home offices.
  

More formalization and company policies around remote work are necessary for the shift to be successful.

A recent study showed that half of the businesses expect less productivity during the pandemic because of a lack of remote work capabilities. Companies that have built up guidelines will have an easier time working from home.

As the public health crisis continues, office space will probably have to be altered to encourage safety.

• It could mean the reversal of the open office trend that was packing more people into open office spaces.
• The shift may mean more private spaces or personal offices for individuals, and more distance between desks.
• The introduction of various types of barriers between desks, including cubicles, could resurface.
• Less visible may be the action managers take to divert congestion points and clean offices.

• Fewer employees coming into the office could mean less need for office space.
• Safety protocols that require people to be spaced at least six feet apart could cause more demand for larger office space.
• As a result of the new virus and its containment measures, office leasing has slowed. But office properties will be more insulated than other property types like hotels and retail.
• Spaces with more private areas that might limit the spread of germs may become more popular.

Coworking companies expect an influx of new clients looking to downsize from traditional office space with long lease terms into so-called flexible space.

Coworking companies have seen a rapid decrease in demand due to shelter-in-pace orders. But it's likely temporary. The uncertainty could cause more companies to look for flexible space that can accommodate rapid changes in their needs.