Corporate Real Estate Managers Think 9-5 is a Thing of the Past
Is the time-honored 9-5, Monday-Friday work pattern with a commute a thing of the past? A majority of corporate real estate professionals—58%—think it is, according to a new CoreNet Global survey.
The 116 corporate real estate managers surveyed by the Atlanta-based association between May 27 and June 16 also saw disruption extending beyond the traditional workday structure. Thirty-eight percent indicated that it will be more than a year before their company has employees in the office at the same levels that were typical prior to the coronavirus-induced shutdowns.
Some 31% say it will be between six and 12 months before those levels are reached. About 15% say those levels will be reached within six months, while 16% say they will never have that many employees in the office again.
The CoreNet Global survey’s other findings include the following:
• Thirty-two percent of survey respondents plan significant renovation or redesign of office space to facilitate social distancing and/or enhance employee health and safety upon return to the office. Among those respondents, 79% plan to set up alternating employee teams or shifts to reduce density. Fifty-one percent will deploy new technology tools, 47% plan to reconfigure office layouts, and 21% will install new equipment or furniture.
• Seventy-one percent of respondents said their companies won’t shy away from city-center locations in densely packed urban areas that require the use of public transport.
• Sixty-nine percent of survey respondents report that they would now consider hiring full-time employees without consideration of location (e.g., under the assumption that they would be able to work remotely 100% of the time).
• Sixty-six percent of survey respondents report that their company’s use of co-working spaces will decrease following the COVID-19 crisis, while 34% anticipate an increase in the use of co-working spaces.
• Asked whether pandemic readiness on the part of cities and localities would become more of a factor in site-selection plans, respondents were evenly split.
• If there’s a resurgence in coronavirus cases after employees return to work, virtually every survey respondent indicated that their company would cope by re-deploying its work-from-home effort.
• Fifty-eight percent of respondents said COVID-19 will be the catalyst for more rapid development of the autonomous workplace at their companies.
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