CoreNet Global has been tracking the pandemic’s impact on corporate real estate. The results of our latest survey indicate more reshoring and a delayed return to the office:
- Reshoring: More than half, 58 percent, say that reshoring of manufacturing will increase and of those, 75 percent say that reshoring will occur most in North America
- Size of the corporate footprint: The number of companies projecting an overall smaller corporate footprint in two years is 57 percent, a smaller amount than in the previous survey (70%).
- Return to work: The percent of those who predicted a return to work for more than half of the workers displaced by the pandemic in January 2021 dropped from almost 30 percent to 12.5 percent, and those that said June 2021 or later increased from less than 20 percent to 36 percent.
- 9-5 is over: Nearly 70 percent say that the 9-5 work pattern is a thing of the past, a number that continues to grow.
- The office lives as a place for collaboration: More than 80 percent say that the office will be used for collaboration and teamwork, as opposed to individual work.
- Time working from home and office nearly evenly divided: Respondents made the following projections about the amount of time in a given work week workers will spend in various locations:
- Office: 47 percent
- Home: 42 percent
- Co-working: 13 percent
- Other: 10
In November, CoreNet Global conducted a survey of its worldwide membership to gain insight on how the ongoing COVID-19 crisis is impacting corporate real estate management. One hundred thirty-eight responded to the most recent survey, which was an update to the previous survey conducted in September.