SRRA has completed its review of occupancy prior to September 1st, The Data was obtained from building access card reports and from interviews with tenants from large financial services companies to midsized tech and non-financial services companies.
All figures are calculated by taking the number of employees who attended in the weeks following the late March shut down over the normal number of employees who attended the offices on a weekly basis in January of 2020. The importance of this methodology is that it recognizes that currently collected data using card access information and other property management tools and interviews with tenants is only about those who attend the office. This number can not be divided by total employees at the company because there is a normal number of employees who do not come to the office due to holidays, sick days, pre-COVID work at home permissions, business travel and other normal course of business reasons.
The sample size used by SRRA to collect the data was less than 10% prior to September but is considered to be accurate within 20%. The sample size of building data and tenant interviews since September 1st has increased to between 20 and 30%. This sample size also has few data points which vary from the average by any significant amount. For example, no tenant reported that more than 25% of their employees had returned to the office and the vast majority of tenants reported some essential services employment required to be in attendance.
For the period October 1st to October 15th there were no material changes to the Index. The next report will include occupancy results post Thanks giving weekend and the increase in cases reported.