(photo: Danesman)
24.02.2021, 18:06

Going Past the Point of No Return

Real Estate, Financial & Professional Services, Coronavirus (COVID-19), Corporate Real Estate

Rufus Grig, Chief Strategy Officer with managed SIP trunk services provider Maintel, comments on HSBC's announcement of a significant reduction in the office space it occupies.


It has been revealed that HSBC is cutting office space by 40 per cent. This latest announcement shows that a move to a hybrid workforce, across all sectors, will be here to stay for the long term. 


HSBC is the latest corporation to downsize its real estate portfolio as it becomes clear hybrid working is here to stay. Many companies across a broad range of industries recognise this as a new reality and, as such, I believe we’re about to see a radical shift in the image of the office. 

It seems we have gone past a point of no return. The past year has proven the effectiveness of remote working for businesses big and small. But as companies switch to a new hybrid way of working, with staff spread across corporate offices and home locations, new challenges will arise. It won’t be a case of simply making do and integrating new technology. Staff will need to be backed by enterprise-grade technology, connectivity and security – regardless of location. Staff must also be able to collaborate and share data across multiple locations in a secure manner – something that is of vital importance for companies in the finance sector, like HSBC.


Mass remote working created many challenges for business leaders, and it is clear the switch to hybrid working will also create many hurdles. With a pathway now set out of lockdown, and hybrid working set to stay for the long-term future, CTOs must start their strategic planning urgently.


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