After the pandemic forced many employees to work remotely, it was initially unclear how long the remote work trend would last. Some thought everyone would return to the office after the pandemic was over. Some saw that remote work was actually working surprisingly well, and expected fully remote jobs to rise in popularity. The latter has definitely happened, however, employers’ attempts at a gradual return to office work have caused another trend to emerge: the hybrid work model.
It turns out an office has benefits and so does remote work. And this is true regardless of an individual’s preference, if they had to choose just one. So why not get the best of both worlds, and just go into the office sometimes? This will be great for workers — though not for owners of office buildings. Those who held onto the office space they owned may have expected a full return to office work, which would result in a return to normalcy for the office building market. What is happening in reality is a gradual reduction in office space. Office space isn’t being eliminated completely, since it’s required for a hybrid work model. But companies won’t need nearly as much office space, and are already making plans to repurpose the space they already have.