Dear Fellow Business Owner
As we all know, the pandemic has fed us the work-from-home and hybrid work trends. Even though several large companies have called for their employees to return to work on a full-time in-office schedule, remote and hybrid work conditions continue to be popular across many industries.
This has left more office buildings than ever clamoring to attract tenants and business owners frantically trying to find new ways to entice employees back to work. Over 95 million square feet of New Your City office space is unoccupied. That’s the equivalent of 30 Empire State buildings, and New York is not the exception, but the rule is that major cities from Houston to Dallas to Los Angeles have similar numbers.
As you might imagine, the impact of new hybrid/work-from-home trends has been the hardest on the commercial real estate industry. Real estate company RXR’s default on a $240 million bank loan on its 61 Broadway New York City building is just one example.
Still, experts say the ripple effect can be felt throughout the economy. Many buildings financed through short-term loans are unable to make payments, leaving banks scrambling with unpaid loans and a pile of bad debt. The ripple effect continues with many large businesses closing their offices completely or relocating to smaller premises away from major cities. This is a huge hit for local economies that rely on corporate tax dollars.
The truth is that post-2020 has led to a new way of doing business, one that’s likely not to change anytime soon. Many employees now insist on remote and hybrid work positions, and business owners are shrinking their office footprints.
While this may signal danger for real estate companies and some community sectors, it can also be an opportunity for business owners in other industries. Hybrid and remote work situations allow owners to hire talent from all over the world while cutting office space costs.
The key to integrating a workforce consisting of full-time, hybrid, and remote workers is to design a work environment that effectively utilizes space and creates a welcoming environment for full-time, part-time, and hybrid employees during their assigned time in the office.
This can require some planning and thinking outside the traditional office box. A flexible layout with modular furniture and movable partitions might be an option. This will allow you to easily reconfigure spaces based on the changing needs of your workforce.
Most importantly, you want a functional and inviting office space. This may mean providing various work settings to accommodate different work styles and tasks, such as open workstations, private offices, collaboration areas, and lounge spaces.
When it’s time to design your new office layout, talk to an architect or design team that understands the needs of a hybrid workforce, once you have your design in mind, call WIN at (804) 410-1634.
If you’re interested in an office setup and furniture installation solution or need help with an office relocation or decommission, please call us today and speak with one of your office installation specialists.
Let’s discuss how we can help you transform empty spaces into functional workplaces that meet your needs and exceed your expectations.
Sincerely,
Workplace Install Network
As we all know, the pandemic has fed us the work-from-home and hybrid work trends. Even though several large companies have called for their employees to return to work on a full-time in-office schedule, remote and hybrid work conditions continue to be popular across many industries.
This has left more office buildings than ever clamoring to attract tenants and business owners frantically trying to find new ways to entice employees back to work. Over 95 million square feet of New Your City office space is unoccupied. That’s the equivalent of 30 Empire State buildings, and New York is not the exception, but the rule is that major cities from Houston to Dallas to Los Angeles have similar numbers.
As you might imagine, the impact of new hybrid/work-from-home trends has been the hardest on the commercial real estate industry. Real estate company RXR’s default on a $240 million bank loan on its 61 Broadway New York City building is just one example.
Still, experts say the ripple effect can be felt throughout the economy. Many buildings financed through short-term loans are unable to make payments, leaving banks scrambling with unpaid loans and a pile of bad debt. The ripple effect continues with many large businesses closing their offices completely or relocating to smaller premises away from major cities. This is a huge hit for local economies that rely on corporate tax dollars.
The truth is that post-2020 has led to a new way of doing business, one that’s likely not to change anytime soon. Many employees now insist on remote and hybrid work positions, and business owners are shrinking their office footprints.
While this may signal danger for real estate companies and some community sectors, it can also be an opportunity for business owners in other industries. Hybrid and remote work situations allow owners to hire talent from all over the world while cutting office space costs.
The key to integrating a workforce consisting of full-time, hybrid, and remote workers is to design a work environment that effectively utilizes space and creates a welcoming environment for full-time, part-time, and hybrid employees during their assigned time in the office.
This can require some planning and thinking outside the traditional office box. A flexible layout with modular furniture and movable partitions might be an option. This will allow you to easily reconfigure spaces based on the changing needs of your workforce.
Most importantly, you want a functional and inviting office space. This may mean providing various work settings to accommodate different work styles and tasks, such as open workstations, private offices, collaboration areas, and lounge spaces.
When it’s time to design your new office layout, talk to an architect or design team that understands the needs of a hybrid workforce, once you have your design in mind, call WIN at (804) 410-1634.
If you’re interested in an office setup and furniture installation solution or need help with an office relocation or decommission, please call us today and speak with one of your office installation specialists.
Let’s discuss how we can help you transform empty spaces into functional workplaces that meet your needs and exceed your expectations.
Sincerely,
Workplace Install Network
