In our previous Tjene Talks interview with Bionic-i, we learned about their use of Ultraviolet Light as a Solution to our Battle Against COVID in Shared Spaces. The discussion brought a potential solution towards how we can achieve a safe return to shared spaces like our offices. In our latest Tjene Talks, we continued the conversation with Aaron Graben, the President of Titan York, a Corporate Real Estate Brokerage, regarding another factor to consider as we prepare to go back to a shared office. In the interview, he shares his insights, and educates us on the current office rental trends and how they might impact the post-pandemic demand for office rentals within the Greater Toronto Area (GTA). Watch the full interview below for a deeper dive on where office rental demands are trending, and potentially how you as the employer can best understand and prepare for your team's back to work plan.
As companies are anticipating and planning for a return to work, many companies may consider an alteration to how the work space used to function pre-pandemic. In a survey conducted in June 2020 by Gartner, Inc., a global research and advisory organization that provides insights for industry leaders, had 127 company leaders select different flexible work models that they intend to provide their employees when restrictions are lifted to go back to work . The results showed that 82% of leaders would "let employees work remote some of the time" and 47% would "let employees work remote all of the time" . As shown in this survey, with the majority of leaders' intending to provide more flexibility to employees by offering the option to work from home or from the office, we can expect to see an increase in hybrid offices. You may be thinking, how can office rental spaces complement the hybrid office model?
The post-pandemic move to a hybrid office or any type of office structure, as discussed in the interview with Titan York, will always come down to the company's specific needs and culture. Here are some examples on how different industries may approach the hybrid office model:
1. Corporate banks and law firms may keep the same footprint but occupy with less density
2. Small tech companies may take on a smaller footprint as working from home has maintained similar results
3. Other companies may offer hybrid urban and suburban options for where to work
The pandemic has undoubtedly altered the way we work today, but it has also proved to several employers that employees have the ability to complete tasks working from home. As a result, providing employees with the flexibility to work from home and from the office in this hybrid office model can become the new normal and further become the foundation for how and where companies will begin their search for office spaces in our post-pandemic work life.
Titan York is a Corporate Real Estate Brokerage offering tenant representation services for office rental, renewals and relocation. Titan York brings market knowledge and expertise in guiding clients throughout their leasing process in locating an office rental space that meets their requirements.