Take 4: Post Labor Day Return-to-Office

Growing signs of optimism are surfacing as efforts for a post Labor Day return-to-office (R-T-O) push escalate. Although having yet to meet with greater success over the past three years, some studies are indicating that the Great Resignation is over and that the pendulum is beginning to swing the other way giving employers increased leverage as employees begin to feel less confident about easily replacing their current job, while others are experiencing remote-work fatigue. A recent study found that “2.5 million office-based employees in the U.S. will face return-to-office mandates through the end of the year,” with most of these policies “set to take effect in September as school resumes and summer winds down.” Further supporting indications of an increase in R-T-O policies are the findings of another study showing that “national demand for office space has stabilized, but New York City’s office demand index increased by 7.4% year-over-year — the most of any market in the study.”

Source:    https://therealdeal.com/new-york/2023/08/29/offices-primed-for-comeback-data-and-mandates-predict-shift/