The Boston Metro workforce is valued for its levels of higher education and adaptability, traits which made local work-from-home operations virtually seamless during the onset of the pandemic. Maybe too seamless, for the comfort of commercial real estate investors. Even as the world looks forward to vaccines, industry analysts debate if office demand will ever be the same.
In recent weeks, a plethora of surveys have been conducted to explore what the post-pandemic working world may look like. An August 2020 study by Harvard University finds that most employees are working an average of 49 minutes longer at home than they did at the office. Many of them are more productive, thanks to reduced time spent in meetings and fewer interruptions during the day. Many report being less stressed.
For employees who find work-from-home difficult, the drawbacks are numerous. Inadequate workspace, a lack of privacy, difficulties with technology, less peer collaboration and workday interruptions are some of the issues.
Work-from-home experiences are as varied as the individual, the job, and the employer. With this in mind, leading companies are implementing workplace choice, giving employees the option to work in a socially-distanced “shared space” office environment, or to work from home, or a combination of both.
If flexible workplace arrangements become the new norm, it is likely that office space demand will center around flexible leases in turn. Lease terms that allow for the expansion and reduction of square footage, and shorter lease periods with rights to renew, will be attractive as employers evaluate their best workplace solution.
When you are ready to begin, relocate or expand your business, team up with the Jay Nuss Realty Group, LLC! Whether you are thinking of buying, leasing, or investing in Boston Metro commercial real estate, we can help you find the ideal property.
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