Average weekly - 56%
Peak Day - Wednesday 67%
Slow Day - Friday 32%
Although returning to work in the office is important for employers and the retail sector in downtown Toronto, a more pressing issue for all is the growing congestion in the city and the region. Experts continue to predict that immigration into the region will reach new levels, reducing congestion and increasing transit ridership will be the challenge for policy makers, politicians, and corporate leaders in 2024.
We look forward to providing you with more ‘Return to the Office’ data but will also provide you with updates on the efforts to reduce congestion or the lack thereof.
The next Index will cover the first half of January 2024, and is scheduled for release during the week of January 29th, 2024. See the Articles of Interest below for some global perspective on the impact of remote work.
Best wishes for the New Year.
Your SRRA team.
Links to Articles of Interest
Prospects for Returning to the Office in 2024: I’m Not Happy ‘Til Your Unhappy
Research by Bamboo HR in the U.S. suggests that widespread return-to-the-office mandates may have had the desired effect to get bums in seats but that employee satisfaction has plummeted.
Rise of AI Plus Continuing Recession Fears Could Influence Work Environment in 2024
With the pandemic shocks a distant memory, the continuing dis-connect between employers and workers resisting return to work mandates remains a source of confusion. But when a respected Stanford economist declares ‘return to office’ movement is ‘dead,’ can we afford to ignore his analysis? After more than three years of ‘pandering’ to ‘over-privileged office workers,’ some seek to remind us that 8 of 10 workers don’t have a choice.
https://www.techopedia.com/trends-in-the-workplace
Could Anecdotes Better Reflect Reality Than Detailed Analysis re Remote Work?
The stories told in articles like these are anything but scientific and usually a thin disguise for a writer’s personal viewpoint. But could complaints that remote work disadvantages younger workers seeking mentorship and personal growth be on the money?
Citibank Showed Its Kinder Side to Its Hybrid Workers as 2023 Drew to a Close
With a quarter of a million employees, the world of HR pays close attention to how Citibank approaches its ‘right-sizing,’ a process that has seen hundreds of senior staff let go. So the mild-mannered company memo encouraging its hybrid workers to enjoy the ‘holiday season’ was viewed with suspicion.
Could Tide Be Turning Against Remote Work as Employers Attempt to Regain Control?
The Business Journals reports that employers in America’s largest cities are seeking to stem trends that have seen wages increase and concessions that allow workers complete flexibility on whether to attend the office.
The Economist Declares London as a Triumph for Policy Persistence
If policy makers focus on the right priorities then this increases a city’s resilience in the face of daunting challenges. The city has survived many ups and downs over 2000 years and trends that see few workers coming into the office five days a week, the Capital is finding new ways to shrug off disappointments.
New EY Report on the Future Workplace Index Suggests that Extreme Versions of Remote Working Are Eroding
‘All remote’ and ‘all in the office’ appear to be going the way of the Dodo. EY reports that 99% of companies surveyed are looking at average attendance of at least three days a week.
Old is New Again: Federal Government Returns to CMHC Housing Plans Model to Add Density
The announcement that CMHC will be dusting off the 1950s era Central Mortgage and Housing Corporation catalogue of affordable house designs but with a higher density twist made the news on Bloomberg.
Second Largest Tech Firm in India to Require Attendance in Office Minimum Three Days a Week
Citing need to boost worker productivity and spur economic growth, Infosys has laid down the law on mandatory attendance in the office. Read Article Here.
Graphics Tell a Complex Story About Return to the Office Trends
The one clear take-away from this study of five U.S. regions is that places with shorter, or in some cases, just easier commuting patterns report higher levels of attendance in the office. The figures for November are highest since pre-COVID.
Vested Interests Still Promoting Co-Working Spaces
A lot of money has been invested on co-working in recent years, so designers are looking for new hooks as they urge landlords to embrace ‘flexibility,’ with growing gaps between traditional and alternative office space.
“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],”