![]() ![]() Commuting Culture – So many aspects of daily life are built around the concept of getting from home to the office and back that the impacts are likely to be pervasive:.While the infrastructure of the internet has generally held up well under the increased load of video streaming and gaming, the demands of the new work reality are likely to accelerate the buildout of 5G networks and adoption of the devices that run on them. But other apps have benefitted as well, like Docusign (+48%) and Adobe Fill & Sign (+26%) for executing documents and contracts remotely, and HP Print Service Plugin (45%) for printing from mobile devices. According to app usage data collected by Embee for Forces of Change, Zoom’s user base increase 12X from February to April, and MS Teams’ user base increased almost 3X. Technology – Zoom’s meteoric rise has been well documented, and Microsoft Teams has benefitted greatly as well.This realization will drive home renovation (beneficiaries: The Home Depot and Lowes) as well as trade-up to larger homes. Less obvious are the impacts on residential real estate as workers realize they need permanent, dedicated office space in their home. Real Estate – The most obvious impact is that shifting workers from office to home will blunt demand for commercial real estate, creating a glut of office space and an attendant drop in rents.While this trend is starting to get the attention it deserves, few have yet grasped just how profound and far-reaching the impacts are likely to be: The Consensus Point prediction market set the probability of this migration continuing at 78% in the U.S. workers conducted April 1-5, 2020 showed that 34% of respondents reported working from home for the first time in the last four weeks, in addition to the 15% already working from home.Īnd to reinforce the expected permanence of this shift, a study conducted by Consensus Point for Forces of Change predicted that current COVID-era levels of working from home would stay the same or increase. A survey conducted by Buzzback for Forces of Change indicates that four in ten workers in the U.S. The migration of workers from central offices to home offices will have a large and lasting impact on the economy, consumer behavior, and culture.įacebook and Twitter recently made headlines with major announcements of their plans to shift their workforces to home offices, but they appear to be just the tip of the spear. ![]() The Forces of Change report is now available for download here. Editor’s Note: This post is a preview of the Forces of Change research that will be presented at IIEX Forward, an online event curated to give you the tools you need to successfully navigate COVID-19 and digital transformation. ![]()
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