Despite some employees still working remotely, managers recognize the wisdom of keeping their same office square footage.
Why are companies retaining the same office space despite hybrid work?
Managers recognize that hybrid work often leads to mid-week crowding, where employees tend to come into the office on the same days. This means that a reduction in remote work doesn't necessarily lead to a proportional decline in space requirements. As a result, many companies find they still need the same amount of office space.
What trends are influencing office attendance policies?
Recent shifts in office attendance policies among major employers, such as Meta and Skadden, are influencing how companies manage their workforce. For instance, Meta has mandated that employees work from the office three days a week, while Skadden requires four days. These changes reflect a growing trend towards requiring more in-office attendance, which impacts space needs.
How has office attendance changed post-pandemic?
Since the pandemic, there has been a notable increase in office attendance, particularly in the post-Labor Day period. For example, attendance was 20% higher in the fourth quarter of 2022 compared to the first five months of that year, and in 2021, it was almost 50% higher. This trend indicates a growing momentum for returning to the office.
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