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| Remote Work, 2010 |
Ah, the good ol' days when the hum of the office copier was a constant, and the line for the machine was a daily ritual. But as we've seen in recent times, the office landscape is changing, and with it, the demand for office technology like copiers.
The recent data paints a clear picture: post-Labor Day, we saw a slight uptick in office attendance, but it's still a far cry from the bustling offices of 2019. Despite the efforts of big-name companies like Meta Platforms to enforce stricter return-to-office rules, the national return rate remains stubbornly low. And let's face it, if employees are working from home, who needs a copier?
“It was clearly a minority opinion that the others shook their heads at,” said Kris Larson, chief executive of Central Houston Inc., referring to the sentiment at a roundtable business discussion in Houston about enforcing return-to-office policies in performance reviews. - WSJ
In cities like Chicago and New York, the fluctuating return rates are evident. While some days see a decent influx of employees, others, especially Fridays, are ghost towns.
Kastle Systems, which monitors office attendance through security-card swipes, reported that the average return rate in major U.S. cities recently peaked at just over half of 2019 levels. This is a hard pill to swallow for office tech providers who were banking on a full return to the office.
The implications of this trend are vast. Office building owners are grappling with record-high vacancy rates. In fact, the national office vacancy rate is nearing its historical peak from the early '90s. This isn't just a problem for landlords; it's a challenge for office technology providers. Fewer people in the office means less need for copiers, printers, and other office tech.
The reasons for this slow return are many. From concerns about Covid-19 to rising crime rates and homelessness in major cities, employees have more reasons than ever to stay home. Add to that the cuts in government services and transportation woes, and it's clear why the office commute is becoming less appealing.
The tech sector, which many cities heavily rely on, is showing signs of slowing growth. If a recession hits, we could see even fewer people returning to the office, further impacting the demand for office technology.
City and business leaders are now looking to the federal government for support, lobbying for incentives to encourage businesses to commit to downtown areas. But as Sandy Baruah from the Detroit Regional Chamber points out, the chances of such legislation passing are slim.
So, where does this leave us in the office tech world?
The traditional office model is evolving, and with it, the tools we and your prospects use. That great, big copier, once a staple of office life, is on its way out. But in its place, new opportunities for innovation and growth will arise.
Here are three suggestions:
Remote Office Setup Consultations:
Dealers can offerbillable consultations to businesses on setting up efficient remote or hybrid office environments. This includes recommending the best digital tools, software, and equipment that cater to remote work needs. By providing expertise on creating a seamless remote work experience, dealers can position themselves as essential partners in the transition.
On-Demand Equipment Rentals:
Recognizing that not all businesses will need permanent office equipment in a remote or hybrid setup, dealers can introduce on-demand equipment rental services. This allows companies to rent equipment like printers, scanners, or copiers for short-term projects or occasional in-office days, ensuring they only pay for what they use.
Virtual Training and Support:
As businesses adapt to new tools and technologies, there's a learning curve involved. Dealers can offer virtual training sessions for clients on how to use new equipment or software. Additionally, providing a robust online support platform, complete with video tutorials, FAQs, and live chat support, can ensure clients feel supported in their transition to a new work model.
Change is difficult - it always has been and mistakes will be made along the way.
So be it.
Just like you did in the in 80's and 90's; as you did after 911, the tech bubble and the great financial crisis of 2008, you adapted.
You've done this before, you already know what you need to know. Pivot, Survive, Thrive.
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Source: The Wall Street Journal. A recommended read for those keen on understanding the intricacies of the current real estate market.
Written by GPT/GRW.
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Tweet:
Exploring the shift in #ReturnToOffice policies and its ripple effect on office tech. Are copiers becoming a relic of the past? 🖨️➡️☁️ #WorkplaceTrends #RemoteWork
LinkedIn Post Introduction:
As we navigate the evolving landscape of return-to-office policies, it's crucial to understand its implications on office technology. The traditional tools we once deemed essential are now being re-evaluated. Let's dive into how these changes are shaping the future of our workplaces. #HybridWork #OfficeTechTrends
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