Employers and employees are equally supportive of hybrid work, according to a report released by the Building Owners and Managers Association International. More than six in 10 members of each group want to be back in the office at least three to four days per week.
That’s among the chief findings of the new 2022 BOMA International COVID-19 Commercial Real Estate Impact Study, a survey of 1,267 office-space decision-makers and high-level influencers. The survey, conducted in the second quarter of this year, follows two similar studies published since the start of the pandemic, all of which were underwritten by Yardi and developed by Brightline Strategies.
“The office still plays a central role in the future of businesses,” said Henry H. Chamberlain, president and chief operating officer of BOMA International. “Because employers and employees both see value in the physical workplace, our research shows that a majority of both groups want to spend more time in office than out of it. This means commercial real estate has an opportunity to create even stronger partnerships with tenant companies to promote innovation and reinvention to shape the offices of tomorrow.”
This new study targeted the top 20 U.S. markets and analyzed data by industry, company size, office square footage, geographic location, and more.
Among the study’s key findings:
• 86 percent of respondents affirm their in-person office is vital to operating their business, up from 78 percent in 2021.
• 72 percent say they would renew their lease if it were up today, up from 38 percent in 2021.
• 76 percent said their employees and colleagues support returning to physical offices.
• Decision-makers predict that 29 percent of their employee base will be partly or fully hybrid/remote 12-18 months from now.
• 70 percent of respondents across tenant sizes report that they’ll reassess their space needs, a 15 point jump from 2021.
• 78 percent of tenants seek property owner or manager investments beyond the status quo in health and wellness amenities and programs designed to improve in-office collaboration.