March 27, 2020
JLL Americas head of consulting, Sundar Nagarajan, and JLL’s managing director of strategy and innovation, Peter Miscovich, provided insights into the ways disruptions, such as the COVID-19 pandemic, impact businesses. The pair hosted a webinar last week on the topic of workplace continuity and remote work brought about by this current situation, which is characterized as a unique challenge for businesses, and one that could lead to unintended, lasting changes.
The CRE experts wonder if the current crisis might actually trigger a “paradigm shift” towards more digital and remote work. If that happens, it will likely accelerate the adoption and development of new technologies and remote business processes. Clearly, that will cause office owners and investors to consider the implications to the CRE office sector from demand, as well as workplace environment perspectives.
Unique challenges presented by the COVID-19 outbreak include the fact that there’s no geographic center, the disease is being spread form human to human and it is shifting dynamically. The solutions must be unique too, both from a short-term and extended period, in order to sustain a business.
Long term, that might include a more ecosystem approach with many solutions. The distributed model of work would see companies utilize a wide range of workplaces beyond a main office to provide flexibility. Those could encompass such options as satellite locations, homes, conference centers, co-working, hotels, conference center, client sites, partner offices, third places or even virtual reality.
For comments, questions or concerns, please contact Dennis Kaiser