Flex Index 6/27/23: Navigating the New Work Landscape | Dror Poleg
Dror Poleg is an Economic Historian and the award-winning author of Rethinking Real Estate
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Navigating the New Work Landscape: Career Shifts and Real Estate Risks | Dror Poleg
In this episode, we’re joined by Dror Poleg, award-winning author of "Rethinking Real Estate." Dror, who accurately predicted the reshuffling of offices, homes, and cities, is a highly regarded thought leader often featured in the Wall Street Journal and New York Times. We discuss:
The “great untethering”: How the recent shift toward hybrid/remote work is just the latest event in a long trend toward an untethering of work and office.
Talent specialization: How companies’ increasing need for unique, hard-to-find skillsets drives greater acceptance of remote work to find the right talent.
Management complexity: Why hybrid and remote work puts more strain on managers, and how their skills need to evolve to support flexible work.
Listen on Apple Podcasts, Spotify, and Amazon Music.
ICYMI: Preparing for the Storm - The Future of Commercial Real Estate | Arpit Gupta
In this episode, Rob is joined by Arpit Gupta, Associate Professor of Finance at NYU Stern, to discuss the risk of a commercial real estate “apocalypse.” Together they dive into:
Unprecedented Upheaval: The factors causing a dramatic transformation in the office space business and the potential size of the impact.
Stakeholders at Risk: How different stakeholders in the office real estate ecosystem, including employers and employees, are likely to be affected.
Seizing Opportunities: What actions real estate stakeholders and local governments can take to protect themselves and leverage this upheaval as a potential opportunity.
Whether you're in real estate, a company leader, or a public official impacted by urban core changes, this must-listen conversation offers insights and strategies for navigating uncertain times.
Listen on Spotify, Apple, or Amazon.
Fact of the Week
There’s a Significant “Flexibility Divide” Emerging Between Big and Small Tech Companies
Tech companies with fewer than 500 employees are almost 3.5x more likely to be Fully Flexible compared to tech companies with 25k+ employees.
On the flip side, 65% of tech companies with 25k+ employees are Structured Hybrid, compared to only 6% of tech companies with less than 500 employees. Very few tech companies of any size are Full Time In Office.
Company Spotlight
At Progressive, 97% of employees are working remotely or in a hybrid role where they elect to come into an office periodically. Roles — where the work is done onsite — come in per their schedule. These include real estate, building security, print production, and IT hardware configuration. Capital Management (Stamford, CT) and the Level20 incubator (downtown Cleveland, OH) come into the office three days per week per their team norms.
In the Media
Bloomberg: While 2-3 days / week in office remains the norm, some companies like Chipotle and Disney are testing boundaries with four days in office required.
Vox: Smaller tech companies are leading on remote work, potentially enabling them to steal talent from their larger, more structured peers.
The Registry: Not all companies are willing to accept the idea that they cannot compel employees to return to the office while still bearing the burden of rent expenses.
One Last Thing…
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