Average weekly - 56%
Peak Day - Wednesday 71%
Slow Day - Friday 32%
See the Articles of Interest below for some global perspective on the impact of remote work.
The conflict between the benefits enjoyed by employees staying home and employers’ insistence on more in-office work is increasingly being resolved to serve the interests of both sides. However, the choice for when in-office work is done is increasingly becoming the employer’s choice. Fridays became the default “Remote Work” day in some companies, but we are seeing a trend to returning the in-office work over 5 days. Still, it is too early to predict whether the hybrid week means only 4 days a week in the office or remote work spread out with the final choice depending on many factors.
The future of office buildings remains a hot subject. But as we have noted before in this commentary, vacancy rates haves not peaked in comparison with other times when vacancy was generated by oversupply and business retrenchment. We will have more on this as we collect data on why some companies are planning to lease less space.
In our next members only briefings, SRRA will review some of this research and lead a discussion on what it means for the future of remote work and the future of office space.
For membership information and how to participate in these events please contact [email protected]
The next Index is scheduled for the week of Dec 4th, 2023.
See the Articles of Interest below for some global perspective on the impact of remote work.
Best wishes from the SRRA team.
Links to Articles of Interest
Return to the Office Mandates Leading to Extreme Rhetoric but Little Clarity
As tech execs in the U.S. flex their corporate muscles to get staff back in the office, the lack of data on either side of the productivity arguments is creating a new layer of confusion. Communication failures in communication in the workplace were once referred to as ‘broken telephone’ problems.
Reading Beyond the Headlines Important (Especially with this one)
A study reported in the Financial Post claims that working from home (survey of more than 500 public companies worldwide) boosts sales by double digits. A different survey by workplace consultant Mercer found that employees back 4 days a week report higher job satisfaction and engagement.
U.S. ‘Office Usage’ on the Rise: Does the Pendulum Swingeth?
Kastle Systems’ Back to Work Barometer reports that more workers are returning to the office in the 10 U.S. cities tracked by the company. Chicago leads the parade at 55% occupancy compared to pre-pandemic figures.
First, the Glass Ceiling, now the Zoom Ceiling
Younger U.K. workers especially are ‘zoomed out’ working remotely. This is affecting performance and career mobility.
Fare Integration Takes the Tim Horton Approach to Public Policy
The Ford government is set to eliminate costly double fares across the GTHA in early 2024. No more ‘double double’ when transferring from GO to TTC and more? Worked for Tim Horton customers so why not?
We Work Failure Will Affect Landlords in Many Cities in North America, UK
What does bankruptcy of WeWork say about demand for such facilities?
Remote Work Spells $uccess for Public companies
A joint Scoop/BSG survey of hundreds of public companies reports that companies that avoid RTW mandates in favour of complete flexibility on when to come to the office earn more revenue, more quickly.
As Far as The Eye Can See…London’s Skyline Littered with Cranes for New Office Projects
Deloitte has published a highly scientific report on burgeoning office construction activity. Rather than rely on data, Deloitte invested in a new pair of binoculars and went on the roof of their office building. (First published April 1st)
“The Occupancy Index is supported by the City of Toronto, Downtown Yonge BIA, and Downtown West BIA. It is a measure of the percentage of office employees returning to the office compared to the number of employees who would normally have come to their offices pre-COVID. For a detailed description of the calculation please contact Iain Dobson at [email protected],”