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How Remote Working Is Impacting Office Valuations Across Big Cities

Allwork

A working paper from NYU and Columbia University researchers shows that the value of New York City’s office buildings fell by one-third during 2020. . Now, a new report shows that current trends towards remote and hybrid working could lead to offices losing $500 billion from pre-pandemic values by 2029. .

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Unveiling the Hidden Potentials of Remote Work Productivity

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A 2020 Stanford University study revealed that remote workers were 5% more productive than office-bound counterparts. The National Bureau of Economic Research (NBER) highlighted a significant increase in productivity for remote work-heavy sectors like IT and finance. By spring 2022, this figure rose to 9%. between 2010 and 2019 to 3.3%

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7 Apps to Teach Kids About Money

Success

The days of working hard to earn a buck aren’t exactly gone, but the personal finance landscape is certainly more complicated now than it was a few decades ago. Meanwhile, only 21 states required a personal finance course for high school students in 2020, according to the Council for Economic Education. Toshl Finance.

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Are Productivity Paranoia And Lack Of Trust The Real Obstacles To Hybrid And Remote Work?

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Stanford University researchers doing a longitudinal study comparing productivity at different time periods found that remote workers were 5% more efficient than office-based ones in the summer of 2020. But this number improved to 9% by summer 2022. . Those working from home had improved work satisfaction and a 50% lower attrition rate. .

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Rapid Work Style Shifts Are Tanking Tax Revenues — Can City Planners Catch Up?

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“New York raises almost $1 billion annually from a tax on large commercial leases, which could fall if demand from big tenants like law and financial-services firms remains soft,” Bloomberg reported. . We find a 45% decline in office values in 2020 and 39% in the longer-run, the latter representing a $453 billion value destruction.

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How Will Employee Attitudes And Needs Evolve In 2024?

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Utilizing bi-annual surveys, meQuilibrium (meQ) has been gathering data on employee wellbeing since 2020. workers feel pessimistic about the state of the nation (the ongoing economic crises, for example), half express increased despondency about personal finances, and a third feel worse thinking about work relationships.

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7 Strategies To Attract And Retain Top Talent

Allwork

That’s not surprising, and aligns with the early November jobs report , which finds that U.S. That’s especially the case since the just-released US labor market report for tech jobs shows continued strength, with tech companies actually adding 20,700 workers in October. . That might not bode well for many tech companies firing workers.

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