As September kicks off, we look at how the Irish workforce has adapted, and what changes have established themselves as the “new normal” as conditions continue to fluctuate.

“Office rentals in Dublin halved in opening six months of the year due to Covid-19”

Just one of the scary statistics casting a grim shadow over the Irish economy in recent months. It is hardly a massive shock that people working from home has led to a decrease in demand for commercial office leases, but a 50% plummet YTD could have grave consequences for mid-market organisations attempting to survive the unforgiving COVID storm.

As of its Dublin Office Market Overview that was released on Monday, August 3rd, the Dublin estate agents, Knight Frank say that total rentals for the six months to June 30th were brought down to just 84,000sq m.

https://www.irishtimes.com/business/commercial-property/office-rentals-in-dublin-halved-in-opening-six-months-of-year-due-to-covid-19-1.4320034?mode=amp

“City centre space looks secure in terms of value and rents, but secondary locations and retail will suffer”

The core locations should be less affected than some suburban spots. largely due to mass uncertainty in Dublin. 

According to a recent Irish Times article, we are yet to see a concrete consensus form regarding the general approach to working from home in Ireland. More than anything, what our working population seeks is certainly. They want to know what the future holds so that they can come to a conclusion themselves. People just want to experience the calm of predictability again.

Companies like having offices, not for one specific reason, but one of the benefits is that they can “communicate a message around community and lifestyle” to customers and staff alike according to Dr Maeve Houlihan, associate dean and director at the UCD Lochlann Quinn School of Business.

https://www-irishtimes-com.cdn.ampproject.org/c/s/www.irishtimes.com/business/commercial-property/what-will-the-office-market-look-like-after-the-great-remote-working-experiment-1.4323683?mode=amp

“Have you developed a habit of checking your work emails while cooking dinner or just before going to bed?”

While tonnes of people initially expressed their delight at the benefits of working from home, the distinct divide separating work life from home life no longer exists, and with push notifications enabled, work-life has the scary power to consume us entirely.

People are being advised to do some of the following in order to separate themselves from their office-selves when at home:

  • Go for a walk
  • Do some household errands
  • Exercise or meditate
  • Change your environment/ outfit

Small shifts can have significant impacts, don’t forget to unplug at the end of the day!

https://www.linkedin.com/feed/news/leaving-the-office-when-wfh-4922388/

“Kildare businesses face the threat of financial crime with remote working”

As if the looming worry of a global pandemic isn’t stressful enough for us at is, there is a significant risk of businesses being subject to financial crime, with Kildare being a prime target.

According to a recent survey carried out by The ACOI, the risk has increased by over 60% in recent months. With a hefty pressure already on the shoulders of small Irish businesses, a breaking point certainly seems to lie inevitably on the horizon.

Larger companies have more economies of scale to withstand this pressure, and so should survive, but the same cannot be said for SME’s in Ireland.

https://www.leinsterleader.ie/news/news/562022/kildare-businesses-face-threat-of-financial-crime-with-remote-working.html#.XyFlAnuxVxA.whatsapp

NoCo

Author NoCo

NoCo is Hub & Spoke Real Estate Platform. We offer private workspace to corporate clients based in Dublin city centre through a network of locations in commuter towns enabling employers to attract talent, retain their best people and manage where they work.

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