Occupancy Index - June 1, 2022

Comments–

We estimate that between 38% and 40% of the employee base are now coming to the office at least once a week. This is indicating that employers are finding ways to organize in office activity without a full mandated return. Employers are not expecting a surge of returns for the summer except for new hires.

Employers find that organizing the workplace in the same fashion as the pre-pandemic workplace is highly unlikely in future. Once there is stability in the economy and balance in the labour supply markets the real impact of non-office-based work will be measurable and its impact on demand for office space more predictable. We still expect that the Index may reach 30% prior to August.

Stay safe, your SRRA team.

Links to Articles of Interest

Dig beneath the headlines! 

Focus on improving the commute! Survey suggests that the journey to work is the biggest deterrent to returning to the office for employees – if you have time to read only one of these articles, choose this one.

More variations on hybrid working, with some opting to visit the office only once a week in major U.S. cities

U.S. experience with return to the office showing signs of distress as employees chafe against employer demands

New York landlords and employers looking for inspiration in the quest to lure workers back, casting doubt on the future of ‘B’ class buildings

Surveys of Canadian employers are similar to trends found across North America, as predictions on a return to the office continue to reflect uncertainties and doubts about when or even if employees will be back.

Cultural differences highlighted in diverging trends between Europe (sic) and U.K., with the latter opting for WFH over the office

Provocative Musk lays down the law on return to the office for Tesla

This is only one of dozens of articles covering Musk’s recent pronouncements. His hard line approach masks attitudes to remote work that most have discarded.

CBC journalist/physician sets out some thoughtful ideas about unappreciated benefits of returning to the office

 “The Occupancy Index is supported by the City of Toronto, Financial District BIA, Bloor-Yorkville BIA, The Waterfront BIA, Downtown Yonge BIA, St Lawrence Market BIA and Toronto Entertainment District 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],”