What is the Future of Office Post Covid-19?
It is no surprise the office sector of commercial real estate has been a hot topic after this past year. The office is typically known as a place of collaboration within an organization that allows social interaction, creative partnerships, communal development, and group mentoring as well as a productive environment to excel as a team. Due to the pandemic, the office setting was disrupted and now the question is how it will return and what that “new” office space will look like.
According to “Purpose of Place: History and Future of the office External Link,” there are five prominent factors that will determine the future of the office. The five dynamics identified include productivity, innovation, company culture and branding, employee satisfaction/ retention, and location and building strategy. Mainly it boils down to the pro and cons of office versus remote work capabilities specific to companies or brands. Does your company produce more in a collaborated workspace or are your employees’ content and able to produce the same if not more in a remote environment? Either way, the office sector will not completely dissolve yet it will evolve to what makes the most sense.
Above all, what makes the most sense is to make sure office spaces are healthy and safe to return to work. This also means structurally so, if your office building is in need of a seismic retrofit, contact us https://saundersseismic.com/contact/.
For more details on the study by Cushman & Wakefield that provides a new perspective on COVID-19’s impact on the commercial real estate (CRE) industry and the future of the office please visit, https://www.cushmanwakefield.com/en/insights/covid-19/the-future-of-the-office-space