10 to 20 years ago before we had the technology of today it was absolutely critical to have office space so employees could collaborate, communicate, and have meetings to get work done. However with today's technological advances do we really need office space? According to a recent Regus report those with office space will soon be the minority. 48% of the employee base is working remotely (e.g. coffee shops, home offices, coworking facilities, internet cafes, etc..) at least half of each work week.
Below are 8 reasons why the need for office space is shrinking:
1. Technological Advances – Technology such as high speed internet, video conferencing, cloud computing, etc. is allowing employees to connect online. They are able to meet virtually, create and share documents online, and c0mmunicate and collaborate just as effectively as in person.
2. Millennials are the next generation – They will make up the majority of the workforce by 2020. They grew up using social media such as Facebook and Google so it's already a part of their daily life
3. Office Space is expensive – Companies spend a lot of money leasing office space as well as on furniture, equipment, supplies, etc. Be encouraging employees to work remotely they will be able to save a great deal of money.
4. Time Savings – Employees spend a great deal of time commuting. According to a Census Bureau report the average employee spends at least 90 minutes a day driving to and from the office.