Page 9 - FDI Alliance International Magazine. Spring 2021 Digital Interactive Issue

retreat but most will not completely return. There to rise. In New York City, Barclays, JP Morgan working from home and 78% wanted to continue
has been a migration to at home work, some 1-3 Chase and Morgan Stanley have announced working from home at least 1-2 days per week.
days per week to some permanent. Initially this that many of their employees will continue to work Sixteen (16) percent preferred to work at home
was done to prevent the spread of Covid. What from home and not returned to the company on a permanent basis.
the businesses discovered was that productivity main office. The shift to remote work will create
increased and costs declined. They also found an increase in the demand for remodeling, as Remote work is not only here to stay, but will grow
that employees were happy with these new these workers add an office with comfortable substantially in the next decade. After all, when
arrangements. The employee enjoyed working surroundings. Starter homes will include space company and employee goals coincide Great
in more comfortable setting, flexible hours and for an office, wired accordingly. Things will Happen.
reduced costs due to less travel and reduced
childcare. Remodeling will explode as co-location sites are
developed for those employees who prefer not
This is a classic win-win situation. The company working from home but in a location close to
became more competitive and the employee home. Abandoned one story shopping centers will
is happy. The companies/institutions were now be remodeled to serve as a satellite office. These
faced with continuing to change its business sites provide for reduced costs to commute, lower
model as they moved forward. Were they going space set up costs, and will include amenities
to SURVIVE or THRIVE? Remote work will become such as café, fitness center, comfortable work
part of their long-term thinking and incorporated space and outdoor surroundings conducive to
into their strategic planning process. taking breaks. This transformation may take
place over a period of time, but it is inevitable.
REAL ESTATE IMPACT
Companies in the future will include remote work FRANK FINK
What are the expected changes in real estate? into future strategic plans. This will open many CHIEF EDITOR
Companies will realize that large central avenues for seeking the best talent on the market. FDI ALLIANCE INTERNATIONAL
headquarters are becoming obsolete as less While driven by the Millennials, companies
space is demanded in large cities like New York, should also seek experienced workers from the
Los Angeles, Boston. Rents will begin to decline. retired Baby Boomers. This large pool of workers Frankf@fdiallianceint.com
As companies relocate to smaller cities and can supplement short term and part time needs
suburban locations like Providence Rhode Island of the businesses. A large survey of 2600 remote +1 (504) 432-8787
and Sacramento California, rents will begin workers showed that 68% of workers were successful

9. FDI ALLIANCE INTERNATIONAL