Imperatives to return to your workstation ignite a revolution in office reoccupancy
Kastle
Despite the uptick in building capacity, office valuations persist at a reduced rate compared to the pre-pandemic era, as reported by the National Bureau of Economic Research (NBER).
Kastle
Despite the uptick in building capacity, office valuations persist at a reduced rate compared to the pre-pandemic era, as reported by the National Bureau of Economic Research (NBER). Their study unveiled a 39% drop in office property prices since 2020 — prompting a considerable number of pre-pandemic leases to approach renewal in the near future. This may compel certain companies to conduct a more thorough assessment of their office requirements.
The COVID outbreak acted as an inadvertent test that exposed a plethora of uncomfortable realities about the workplace — particularly, that most employees possess a persistent preference for remote work, and employees working from home are equally, if not more, efficient. It also dawned upon many that traditional office work may not be as fulfilling for some individuals than it is for others, noted Phil Kirschner, a partner at McKinsey & Co. specializing in real estate, as well as people and organizational performance.
Not all individuals, for instance, experience the same level of inclusion and fairness within an office environment. “Diverse groups across various spectrums — including race, sexual identity, physical limitations — are impacted by office obligations, leading to an amplified inclination towards workplace adaptability, either during job selection or when considering the possibility of leaving a job if not granted,” highlighted Kirschner in a prior discussion with Computerworld.
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