Some 76% of US CEOs plan on reducing their office space footprint as a result of the ongoing transition to remote work amid the pandemic.
As the coronavirus pandemic swept the globe, countless companies sent their employees home to work remotely. In many cases, the transition to remote work was far more successful than anticipated, leading some companies to make it a permanent part of their corporate culture. Even companies that plan on eventually returning to the office have had to push those plans back as COVID-19 has resurged.
It appears the trend toward remote work is now impacting long-term decisions regarding corporate office space. Fortune, in collaboration with Deloitte, conducted a poll of 171 CEOs. The poll found that some 76% said they will need less office space moving forward, with 28% saying they would need a lot less space.
Even more telling, 40% of the CEOs polled said that remote work had led to increased productivity, indicating their employees were likely happier working remotely. Conversely, 31% reported decreased productivity.
The mixed results may be an indication that companies need to adopt multiple approaches moving forward, rather than a one-size-fits-all approach. Doing so could ensure maximum productivity from all workers.