June 24, 2020
A majority of corporate real estate professionals (58 percent) in a recent survey say that the traditional nine to five, Monday to Friday work pattern is a thing of the past. The survey was conducted by CoreNet Global, the professional association for corporate real estate professionals – those who have responsibility for managing the real estate, including workplace configuration and locations, at large corporations globally. The survey was conducted among “end-users” only from May 27 – June 16.
Thirty-eight percent of survey respondents indicated that it will be more than a year before their company will have employees in the office at the same levels experienced prior to the coronavirus-induced shutdowns. Some 31 percent say it will be between six and 12 months before those levels are reached. About 15 percent say those levels will be reached within six months, while 16 percent say they will never have that many employees in the office again.
When asked whether the 9-5, Monday-Friday work pattern with a commute a thing of the past, 58 percent of respondents answered yes, while 42 percent answered no
Thirty-two percent of survey respondents are planning 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, a strong majority (79 percent) plan to set up alternating employee teams or shifts to reduce density. Fifty-one percent will deploy new technology tools, 47 percent plan to reconfigure office layouts, and 21 percent will install new equipment or furniture.
Among those respondents planning significant renovation or redesign of office space, a strong majority (79 percent) plan to set up alternating employee teams or shifts to reduce density. Fifty-one percent will deploy new technology tools, 47 percent plan to reconfigure office layouts, and 21 percent will install new equipment or furniture.
Seventy-one percent of survey respondents reported that their company will not shy away from city-centre locations in densely packed urban areas that require the use of public transport. Twenty-nine percent of respondents indicated that their company would shy away from such locations in the future. When asked “Is the 9-5, Monday-Friday work pattern with a commute a thing of the past?” some 58 percent of respondents answered “Yes,” while 42 percent answered “No.”
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 percent of the time). Thirty-one percent indicated that they would not consider hiring full-time employees on that basis.
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 percent anticipate an increase in the use of co-working spaces.
When asked “Will pandemic readiness on the part of cities and localities become more of a factor in your company’s site-selection plans?” respondents were evenly split: 50 percent said “Yes,” and 50 percent said “No.” Fifty-nine percent of survey respondents plan to provide assistance, or increase assistance, to employees with expenses related to equipping a home office (e.g., furniture, internet service, cameras, microphones, etc.) as a result of the COVID-19 crisis. Forty-one percent do not plan to provide such assistance.
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