See how many companies plan to reduce their real estate footprint post-pandemic, in this global survey

by Brianna Crandall — May 5, 2021 — A new corporate real estate (CRE) survey from nonprofit CoreNet Global has found that post pandemic, workers will spend roughly half of the work week at the office and the remaining time either in a home office, remote location or co-working space.

While the office will remain a place for collaboration and teamwork, the overall corporate footprint is expected to be smaller two years from now for more than 54% of the companies surveyed. Of those:

  • 9% project a reduction of less than 10%;
  • 31% project a reduction of 10%-30%; and
  • 14% project a decrease of greater than 30%.

At the same time, 18% of the companies project an increase in their footprint over two years, and 27% report neither increases or decreases.

A full 85% report that the role of the office moving forward will be for teamwork and collaboration as opposed to individual work. And 68% report that the pattern of a 9-to-5 workday is a thing of the past.

In February, 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. Nearly 200 people responded to the most recent survey, which was an update to the previous survey conducted in January.

CoreNet Global launched this version of the survey in conjunction with the first ever Corporate Real Estate Week, during which CRE leaders from around the world participated in sessions that detail the strategic role they will play in shaping the future of work.

For additional CRE research and Covid-19 resources, visit the CoreNet Global website.