Technology has changed the workplace. Is there really any road back to offices as they were?

It is estimated that 30% of operators do still believe that London will recover to 2019 levels of activity & density during the next year. However, 55% believe it has now changed forever as technology has not just changed work patterns, it has altered lifestyles. Many are enjoying far better lifestyles with less travel and more time with their families; they have felt more productive, less stressed and empowered. Why would they return to their old lifestyle? Can companies really enforce it? Do companies really want to enforce it or are they too changing?

The stats emerging are showing that people are travelling into London on weekends at greater levels than during the week. They are travelling for social and cultural experiences. Travel today is far less about Covid but about the value of the experience. The office environment is being challenged to change.

There is a strong argument that the traditional economic geography has been changed once and for all. As 2020 began, the 21 most important business districts in the world housed 4.5 million workers in 100 million square meters of office space. This has probably changed once and for all. The rebuild will centre around a new growing desire for the “experience”.

International business travel equated to around 40% of the revenues for many of the leading hotels and restaurants. Interestingly, there is data emerging which suggests that people will once again travel for leisure and the arts but that business travel may never fully return to the levels once known. International board directors will attend board meetings via Video than in person and understandably so. The increased awareness of the environment will also see behaviours change to a greater degree than previously known.

Wouldn’t it be an irony if technology not only changed City life but was also it’s saviour? It is noted that the pandemic has been a catalyst to digital innovation and sparked a 7 yr increase in the rate at which companies have adopted new digital offers. It is estimated that this will see an increase of £13.4 bn for the UK GDP by 2025. Many believe London will become a leader in innovation and technology development.

Workplaces are already changing. Leaders have not been idle. They have been consulting widely and thinking differently about how to bring the best out of their workforces.