Cushman & Wakefield Reports on Return to the Office

By Cushman & Wakefield, a global commercial real estate services firm

The Current Situation:

Source: Total Workplace. Based upon public announcements from various companies, and client conversations.

Employee Preferences: How Much Flexibility is Desired?

Source: C&W Experience Per Square Foot™ survey, results from October 1, 2020 — June 15, 2022, n=35,788. Note: Rolling Average Used.
Source: Barrero, Jose Maria, Nicholas Bloom, and Steven J. Davis, 2021. “Why working from home will stick,” National Bureau of Economic Research Working Paper 28731.
Source: Spring 2022 Future Forum Pulse survey, n = 10,818 knowledge workers across the U.S., Australia, France, Germany, Japan, and the U.K. Survey conducted from January 27 — February 21, 2022.
Source: Barrero, Jose Maria, Nicholas Bloom, and Steven J. Davis, 2021. “Why working from home will stick,” National Bureau of Economic Research Working Paper 28731. Source: LinkedIn.

Things to Watch…

  • Optimism about RTO plans is abating. When asked in early 2021 about the share of their workers who would be back in the office five days a week in the future, executives said 50 percent; now that percentage is down to 20. (Gartner)
  • Inflation may hinder RTO as costs climb.
  • Tight labor markets = employees have all the leverage. Workplace strategy is therefore top-of-mind for occupiers. How might that change if economic fundamentals shift?

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