News & Insights
New research from YouGov and Applaud HR has indicated that 26% of UK businesses will close their offices or downsize in the near future.
Moreover, 14% of decision makers surveyed do not expect employees to return to the office at all.
The research also suggests that just under a third (30%) may look to use a hybrid model of work, where staff would be required to come into the office between one and three days per week.
Over half of the businesses surveyed indicated that they would permit staff to work flexibly from home or from the office going forwards.
This research contrasts with the CTA’s own UK Tenant Survey results.
Undertaken in Q3 2020, the CTA surveyed over 700 senior individuals, within businesses that leased office space, and asked them what occupation plans they had for the next 12 months.
55% of respondents stated that they would consider decreasing the amount of office space they occupied and 43% considered closing their office space altogether.
It may be that the phrasing of the questions allowed for more flexibility in how the respondents answered. However, it could also represent a change in the perceived importance of office space to a business and how WFH has grown to be seen in a negative light as time has moved on.
The CTA’s UK Tenant Survey excerpts can be downloaded below. These documents collate detailed responses received from over 1,100 commercial tenants from a variety of property sectors.