The work from home policy many employers are using is inspiring much of the workforce to look for new places to live. This Forbes article reports on the trend and how it might shape the future.
One of the big changes is the work from home policy. What started as a way to keep employees safe at home, is now turning into the most popular work trend across the country, inspiring companies everywhere to step away from very large real estate construction projects and lease deals.
When office real estate is expensive and the country is facing an economic meltdown, and a work from home trend falls from the sky, it would be silly not to take it, right?
This Margins article reports that 40% of all venture capital funding in Silicon Valley actually goes to landlords instead of product development, and admits that even though it’s a big number, it is probably very conservative.
Which, again, points to the soundness of organizations running away from physical real estate.
Massive global corporations across the country are either going completely or partially remote. The list starts with Twitter, which decided to go 100% remote. Other companies, like Mondelez, Nationwide, Facebook and Barclays, are also considering a permanent shift to work from home.
“It takes three months to form a habit,” says Mollie Carmichael, a principal at the real estate research firm Meyers Research. “We have been in COVID for three months, and because of this three-month period, we have gained trust and routine for working at home. We are going to see businesses letting more employees work remote.”
A survey conducted by the research firm Gartner reported that 75% of respondents plan to increase the number of permanent remote employees.
Read more about the impacts of this trend.