My provided outlook is on a 10 year outlook and based on research of Chris Herd. He says those corporations who don’t have a remote first policy will disappear. Also, public transit shifted from commuting services to general mode of transportation some time ago.
Interesting read:
- The cost saving in real-estate at scale will be eye-watering. The productivity gains will be the final nail in the coffin for the office.
- Death of HQ: the office is dead but offices will persist. They’ll be used less frequently then hardly at all
- Co-working, subscription clubs, will emerge that let workers who prefer that mode of work to operate from there.
- Meeting Death: wasting 2 hours travelling to a meeting will end. The benefits of in-person are eroded by the benefits you get of not travelling
- Conferences and quarterly networking events will becomes more important for cultivating in-person relationships
Based on those bullets there is no business case for Porter and City Airport anymore. Gone within the next 5 years. Accepting bets on this!
Ahem...........the research of Chris Heard has a just a wee conflict of interest..................
Firstbase is the all-in-one provisioning platform that lets companies supply and manage all the physical equipment remote workers need to do great work at home.
www.firstbasehq.com
His day job is serving remote work.
Ergo, his second job is promoting the idea.
While anything is possible; his world view is exceedingly unlikely to unfold in my opinion.
Will there be a modest increase in flex/remote work; sure.
That was underway before; and the pandemic will see some expansion of that at workplaces already pursuing it; and introduce it to a few laggards.
But I just don't see this wholesale shift.
On an anecdotal level; humans are social creatures; not to mention we just need to get out of the house. You need the damned exercise of a walk to the bus stop; or to work, or at least to the driver's seat!
But besides that, I can tell you more tower announcements (go-aheads) are a near certainty for Toronto in the months ahead.
The big banks will not be running their call centres or their C-Suites from Port Carling or Stratford.
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I do hope you're right on the airport though; as I love the idea of 200acres of new parkland, directly connected to the foot of Bathurst Street!