In the rapidly evolving landscape of the modern workplace, the Spring 2023 U.S. Office Occupier Sentiment Survey conducted by CBRE offers valuable insights on the strategies and trends shaping the future of work. Drawing from the perspectives of 207 corporate real estate executives managing U.S. office portfolios, this survey offers a comprehensive overview of the current state of office attendance, the emergence of new work styles, and efficient portfolio planning strategies.

Current State of Office Attendance

Office Attendance Trends:

This survey reveals a significant shift in office attendance policies. Currently, 65% of companies mandate office attendance, signifying a departure from the discretionary policies prevalent in the previous year. Notably, 38% of respondents anticipate increased office attendance, particularly among smaller companies. In particular, technology firms maintain a more lenient approach, resulting in comparatively lower rates when compared to their counterparts in financial and professional services.

Return-to-Office Policies:

A significant shift is observed in the preferred work culture, with 45% of companies supporting a mostly or fully office-based work environment. In contrast, only 22% advocate for a mostly or fully remote culture. This highlights a growing trend toward a balanced hybrid model, as 63% of respondents express a preference for employees to work in the office at least three days a week.

Impact of Economic Uncertainty:

The survey indicates a divide among executives concerning the influence of economic uncertainty. While 45% report no impact on return-to-office policies, 40% express an increased urgency to return to the office, particularly evident in the financial services sector.

Enabling New Work Styles

Workplace Change Strategies:

Companies are actively reconfiguring spaces to facilitate collaboration, adopting a conservative approach that emphasizes gradual shifts toward innovative workspaces rather than immediate transformative changes.

Space Efficiency:

To adapt to new work patterns, 66% of companies are transitioning from individual seat assignments to seat sharing. Investments are channeled into technology, particularly video conferencing tools, 24/7 building access systems, automated booking platforms, and cross-team collaboration software to bridge the virtual-physical gap and enhance collaboration among remote and in-office teams.

Emerging Workplace Policies:

Workplace policies are evolving to accommodate changing needs, encompassing flexible working hours, four-day work weeks, rotating office schedules, and virtual-first approaches. These initiatives highlight the importance and need for adaptability and employee autonomy in the future workplace. 

Efficient Portfolio Planning

Portfolio Status:

Survey results indicate diverse approaches to space planning. While 23% report portfolio growth, 44% have downsized since the pandemic. Looking ahead, 56% of respondents plan further downsizing, primarily driven by the rise of hybrid work models.

Portfolio Optimization Strategies:

Companies are prioritizing the renewal of existing leases, consolidating into preferred locations, and exploring flight-to-quality options. Sustainability, shared meeting spaces, and proximity to public transit are pivotal factors influencing these decisions, making portfolios agile enough to adapt to changing work dynamics.

Flexible Lease Terms:

Flexibility is paramount in lease agreements, with 33% of respondents seeking creative structures. Shorter lease terms, expansion/contraction rights, and flexible office spaces are gaining traction, offering companies the agility needed in an ever-changing landscape.

Implications and Recommendations

Clear Communication and Inclusion:

Effective communication of office attendance policies, involving employees in the decision-making process, and leading by example by organizational leaders are crucial for fostering a supportive work culture.

Trust and Office Utilization:

Balancing data-driven office space utilization while preserving employee trust is crucial. Employers can achieve this balance through transparent communication and data-driven decisions, fostering trust between employers and employees in the evolving hybrid work environment.

Portfolio Optimization:

Optimizing portfolios requires a delicate equilibrium between organizational efficiencies and employee preferences. Negotiating favorable lease terms and exploring flexible structures are essential for adapting to changing workspace needs and aligning portfolios with evolving work dynamics.

Adaptation and Innovation:

Continuously adapting hybrid work policies based on employee feedback, and aligned with company goals, is imperative. Embracing innovative workplace changes, such as flexible working hours and virtual-first strategies, can increase employee satisfaction and productivity.

In conclusion, the Spring 2023 U.S. Office Occupier Sentiment Survey emphasizes the pivotal role of clear communication, trust-building, and adaptability in shaping the future of work. As companies navigate this dynamic landscape, a strategic blend of data-driven decisions and employee-centric policies will be instrumental in fostering a resilient and productive workforce, ensuring a seamless transition into the future of work.

Credit: www.cbre.com/2023-us-occupier-survey