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Employees value WFH flexibility but they also enjoy and benefit from the office environment. Businesses will need to adapt but tenants say office work remains essential for productivity, culture, risk and driving innovation.
The concept of 'activity-based working', where several people occupy one seat on a particular day, is gone. Businesses will need more space for the same number of people as an offset to the decline in demand.
Even when the virus is finally contained, the business landscape will look very different. A critical issue is the ability of consumers to find product substitutes. Many people like what they find.