Uncertain demand

  • 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.

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This is the end of the office as we know it

vox.com

MORE IDEAS FROM THE ARTICLE

  • 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.

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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.

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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.

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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.

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Working from home

Before the pandemic, only 4 percent of the US workforce worked from home at least half the time. However, the trend of working from home had been gaining momentum for years.

It is estimated that within a couple of years, 30% of people will work from home multiple days per week.

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If and when you return to your office after the pandemic, you'll probably notice some changes.

  • The doors of the building may open automatically, so you don't have to touch the handles.
  • You may tell the elevator where to stop, rather than pressing buttons.
  • You may walk into a room full of dividers and well-spaced desks.
  • Meeting rooms and kitchens may have fewer chairs.
  • There may be more frequent cleaning policies and better ventilation systems.

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RELATED IDEAS

When the world moved to remote work at the start of the pandemic, workers proved that they could adapt and do their jobs as well, if not better, than they could in the office. One survey of about a million US workers at Fortune 500 companies showed that productivity stayed stable or increased when employees started working from home.

However, many companies still require a physical office space that can complement rather than offer an alternative to remote work.

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What’s the purpose of the office – and do we still need it?

bbc.com

The Purpose Of The Office Has Changed

The pandemic has been an extended experiment for most companies who are trying to manage people working from home.

Instead of making it mandatory to attend the office physically like before, many companies have adopted a hybrid model where one could go to the office once a week and work from home the rest of the days.

This new approach changes the purpose of coming to the office.

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Hybrid work: What the office could look like now

bbc.com

Netflix And Chill In Lockdown

The global crisis of the 2020 Pandemic, resulting in billions in lockdown, has resulted in 16 million people signing up for Netflix in March, taking the total subscribers to 183 million.

This provides consumer companies an important lesson regarding the viability of their products in an economy where 22 million people are suddenly unemployed (in the U.S.) and millions more have a bleak future.

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People stayed home and signed up for Netflix by the millions in March. The company has no idea what comes next.

vox.com