2023 Q1 Remote Work Index
The Cresa Remote Work Index examines several reported figures relating to companies’ policies relating to return to the office and hybrid work scenarios.
Remote Work Trends:
After more than three years since the announcement of the COVID-19 pandemic,reverberations are still being felt throughout US office markets. Recently, President Biden announced that COVID-19 national and public emergencies will end on May 11, 2023. While this refers to federal responses, some companies may use this announcement as a signifier for mandating a return to the office.
Both the Bureau of Labor Statistics and Pew Research are reporting that remote working is decreasing as the total percentage of people working at home is shrinking. However, the level is still well above pre COVID levels. Kastle Systems Workplace Occupancy Barometer indicates that the return to the office has remained relatively flat since Labor Day in 2022, a date many referred to as the start of people returning to the office. The SWAA report indicates that full remote work scenarios are slowly decreasing. Meanwhile, public transit still trails pre COVID levels but is increasing. The hybrid work scenario is still being embraced by Fortune 100 companies with 77 permitting a hybrid work policy.