COVID-19 vaccinations are increasing in the United States, with the country now administering more than 2 million doses a day on average. This is leading to hope that the country can slowly start a return to normal this spring and summer. And part of that process? For many, it will mean a return to the office after more than a year of working from home.
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The threat of shorter office lease terms has been looming over the commercial real estate industry for several years. Companies first braced for the potential impact of new standards from the International Accounting Standards Board (IASB) recognizing all leases on the balance sheet, which took effect in January 2019. Then, the office leasing world was hit with additional challenges from COVID-19 as many companies opted to work from home and re-evaluated the role of their physical office space.
Amidst the ongoing crisis, built environments are at the front lines of change and will play a huge role in creating a more resilient world going forward. Office architects are re-envisioning the future of the workplace—where and how we work. Unfortunately, there is no crystal ball to predict exactly what the new future-oriented office will look like, but what we do know is flexibility and adaptability will be key in resilient design.
It looks like 2021 will be another big year for Texas, a year when a lot of major companies will make the jump and move to the Lone Star state. Just look at these transitions:
Here is a statistic that is hard to believe: Remote working accounted for only 3.4% of the total U.S. workforce population prior to COVID-19, according to Gallup. In fact, many companies, including tech companies such as Yahoo!, famously banned working from home prior to the pandemic because the company craved “increased productivity and a more connected company culture.”