At Stanford, they call it the new “working-from-home economy”—one featuring “an incredible 42% of the labor force working from home full-time.” The latest Gallup survey finds 58% working at home at least some of the time. Chicago workers who count themselves among the 51% who prefer remote work “because it improves work-life balance” will also be in sync with their employers. According to Digital Workplace’s estimate, firms that offer remote work report having a “25% lower employee turnover rate.”
For those who might be dubious about flexjobs.com’s contention that 75% of employees “are less distracted at home,” a survey from Atlassian, a developer of team productivity software, offers some common-sense confirmation: “Seventy-six percent prefer to avoid the office when they need to concentrate on an important task.”
Naturally, the rising tide of Chicago home workers creates a corresponding surge in the need for Chicago home workplaces—areas fully or partially given over to business activity. We have already seen an increase in the interest that prospective buyers are expressing (and Realtor® Magazine predicts that home offices “will become a hot amenity for the long term”).
All this points to at least one wrinkle that hasn’t as yet been given much attention: workplace safety. The requirement for things like smoke detectors, adequate lighting and ventilation, and unobstructed walkways are second nature to human resource professionals—but few Chicago home workers have probably given them much thought. The immediate need for a strong Wi-Fi connection and comfortable seating are more likely to have drawn their attention. Yet, according to the government’s telework.gov website, ensuring workplace safety is the remote worker’s responsibility. Given the number of hours now being spent in Chicago home offices, that is worth treating seriously.
At Lofty Real Estate, it is our job to track the latest ins and outs of the everchanging Chicago home marketplace—and to share them with our clients that are buying, selling, and/or looking for property management for their real estate investment.