Recent quotes:

The Real Cost of New York City Office Real Estate

In separate research, Van Nieuwerburgh has extrapolated the economic consequences of this collapse in value for the health of cities, forecasting that a decline in property-tax revenue would create budget deficits for municipal governments that would lead to cuts in services like policing and trash collection, causing a deterioration in the quality of life. He calls this dynamic an “urban doom loop,” a phrase that has caught on. Van Nieuwerburgh told me that the city comptroller’s office had recently cited his analysis as a “doomsday” scenario. But even in the case of a 40 percent decline in values, the comptroller’s report found, the revenue decline would be modest in the short term — only around $1 billion by 2027. With a hint of amusement, Van Nieuwerburgh questioned that conclusion. “They call it sort of the worst-case scenario,” he said, “which I think is a misinterpretation of our paper. Our paper is not a worst-case scenario; it’s the median scenario.” If remote work persists at the current rate, he has projected a much larger tax hit to the city: around $6 billion a year.
#cities #real-estate #interst-rates #wfh #doom-loop - curbed.com

Introducing Working From Anywhere | HR Blog

A flexible working culture is built on trust, communication, collaboration, and connection and acknowledging that we’re all individuals, with different needs and rituals gives us the right frame of mind to let go of a few chosen truths and instead find what’s right for our business and our people. We have considered labour law, tax and insurance readiness for our workforce to be ‘working from anywhere’ – whether that’s working from home, in a café, hotel lounge or a co-working space. And, not forgetting the investment required to make sure the safety and growth of our people. Part of our DNA has always been controlled chaos. So, in the spirit of this, we’re trying this out knowing that there are likely to be some adjustments to make along the way. By experimenting and unlocking all talent we also enable diversity and inclusion, and making new jobs and markets available.
#managing #coronavirus #wfh #flexibility #spotify - hrblog.spotify.com

Hybrid Remote Work Offers the Worst of Both Worlds | WIRED

Hybrid creates two fundamentally different employee experiences to manage. Despite recent successes with remote work, employers are reopening offices to some of their employees to encourage social bonding, reinforce culture, and increase business collaboration. The assumption underlying these reopenings is that some critical things can’t be done as effectively outside of the office. Leaders who built their businesses in offices counted on shared space to act as a glue for culture and as a stopgap for inefficiencies in communication systems and processes. While the office-based model has historically proven to be successful for many companies, it will provide significant challenges for companies committed to also supporting a remote workforce. If an office is the “glue,” and processes and systems don’t adapt for a remote workforce, remote team members will not feel included and will face constant communication barriers. This will make it harder for them to perform at the same level as their in-office peers.
#managing #wfh - wired.com