Most Companies Will Keep Investing In Office As Hybrid Becomes Standard: EY Survey
Although hybrid work schedules are now the norm for 70% of workers, only one-third of companies plan to reduce their investment in commercial space, according to a new survey by consultancy EY.
Fifty-eight percent of those surveyed plan to improve or expand their existing occupancy. Many are also implementing new procedures or technologies to help manage the shifting flow of employees into the office.
Almost 60% of workplaces are either using, or will soon be using, reservation systems for space utilization or occupancy tracking, the report also noted, reflecting the new reality of flexible schedules.
Employers are trying to encourage (if not mandate) return to office. Besides flexibility, some employers are also investing in in-person events, providing meals, reimbursement for commuting costs and childcare support.
"Employers are beginning to understand that they need to earn the commute time of their employees, and many are investing in the 'office of the future' to achieve this," EY Americas Real Estate, Hospitality & Construction Leader Mark Grinis said in a statement.
Also, 40% of the respondents have either started using a four-day workweek or are in the process of implementing one.
Separately, Kastle Systems reports that Fridays have the lowest space usage rate in offices of any workday, about 32%. The midweek days from Tuesday to Thursday attract a greater share of workers coming in, some 56%.