Remote Work Increasing Due to COVID 19; Transforming City, Prices & People; Some offices Not Needed; Untethered Work Force & Management Adapting;

SITUATION:
Major shift from office to remote work going on;
Big Home offices becoming thing of the past;
Teleworkers setting up telecommuting process;
Some new telecommuters may leave the city altogether;
Teleworking setups mean fewer grueling commutes & time saving;
Telework is now accepted part of work culture & society fabric.

SIGNIFICANCE:
Rush hour traffic is down as people working at home;
Prices of homes in Suburbs are up;
Worker shuttered in their homes;
Neighborhoods becoming more economically diverse;

SOLUTIONS:
Movement affecting urban economics & transforming cities;
Millennials likely to stay put in downtown locations;
People can afford to live near where you work;

STATS:
80% of worker want to work from home.
37% of jobs can be done from home; Workers becoming more productive.
Smaller satellite offices being set up;
Less expenditures for main home office space;
Total Social & economic Impact of teleworking yet to be determined;
Some companies will move downtown as workers move to suburbs;

SOURCES:
LA TIMES 12 20 20 – The Pandemic’s Lasting Mark on LA”- Page A17

Contributors to this sourced OP/ED:
Andrii ParkHomenko. Asst Professor, Business, USC Marshall School of Business
Matt Delventhal, Asst Professor, Claremont Mckenna College

 

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