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CoreNet Global Survey Finds Companies Are Updating Workplace Strategies in Response to Hurricane Sandy

(February 11, 2013)

ATLANTA, Feb. 11, 2013 (GLOBE NEWSWIRE) -- A survey of corporate real estate managers and workplace professionals in the northeast corridor has found that as a result of the widespread damage from Hurricane Sandy, companies are updating their workplace strategies as part of their overall risk management.

In the survey, in which nearly all the respondents reported that Hurricane Sandy had affected their operations, 90 percent reported that they instructed employees to work from home, and 21 percent told employees to work in third places such as hotels or coffee shops.

More than two-thirds of the respondents reported that the storm is influencing their companies to revisit or update their disaster response and business continuity risk management plans.

The storm affected a variety of functions, including the operation of mission-critical facilities, data storage, back up energy sources, access to transportation infrastructure and even water supply infrastructure.

As a result of the storm, nearly half the respondents said they will focus on telework and other forms of mobile work, and 16 percent said that they will rely on technology and resources provided by third parties. More than a third would be willing to pay between 10 and 20 percent higher prices for buildings that are equipped to withstand a hurricane.

"Companies need to address work place design and strategy as a part of their overall risk management plans," said Richard Kadzis, Vice President Strategic Communications at CoreNet Global. "The lesson of Hurricane Sandy and other tragic events is that technology-enhanced work including off-site locations is not just a matter of being flexible, it is mission-critical."

About CoreNet Global

CoreNet Global is the world's leading professional association for corporate real estate (CRE) and workplace executives, service providers and economic developers. CoreNet Global's 7,800 members, who include 70% of the top 100 U.S. companies and nearly half of the Global 2000, meet locally, globally and virtually to develop networks, share knowledge, learn and thrive professionally. For more information, please visit www.corenetglobal.org

CONTACT: David Harrison
CoreNet Global
410-804-1728

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