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The Savills Blog

Why Covid-19 may benefit corporate sustainability

Covid-19 has altered the way in which we work, not least due to the fact that millions of employees globally went from working in an office to working from home almost overnight, a large percentage of whom are still there.

Although offices will no doubt continue play a key role, with 90 per cent of 1,000 real estate clients interviewed by Savills believing they will continue to be necessary, the office as we know it might look a little different.

The role of the office as a hub for in-person collaboration, innovation and the reinforcement of corporate culture will carry more weight than before as people look to reaffirm it as a centralised social hub and a way to differentiate between the home environment.

The success of a business is built in a collective setting and the office will remain very much a place to support this. Not only does the social aspect of the office contribute to emotional wellbeing, but it helps to foster a sense of purpose and happiness while increasing employee retention and discouraging potentially negative effects of irregular working hours that people may have experienced at home.

Yet simultaneously, there has been a huge corporate shift in attitudes towards working from home. It is no longer seen as a perk to attract talent, rather a way in which to change the way in which we think about wider Environmental, Social and Governance (ESG) goals.

This has been a step change for many companies, accelerating trends around workplace flexibility, while simultaneously shining a light on how ESG is discussed on a corporate level.

Many businesses now have the courage of their convictions to future-proof their operations by mobilising their workforce to be able to work from anywhere, while also having a positive implication on lowering emissions and doing their bit to achieve the goal of carbon net zero by 2050.

As a result, many businesses will take this opportunity to repurpose their workplaces in order to meet flexible requirements while adhering to evolving demands for more sustainable office space. Firms are having to consider their impact on not only the environment via themes such as carbon emissions, but are also having to take into account their role in wider social issues; the reaction to the Covid-19 pandemic being one of them.

For a start, what the office will look like in terms of incorporating sufficient distancing measures as well as how to engage and include those working from home will be a challenge many companies will have to quickly overcome.

Going forward, we will undoubtedly see a shift in the way in which ESG values are upheld, not only from a corporate perspective but also from a personal point-of-view. The role of the office will continue to be a place where employees can go to feel a sense of belonging, while safe in the knowledge that through increased flexible working, they are protecting the future of the world as we know it.

 

Further information

Read more: Why lessons from lockdown will help when it comes to sustainability

 

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