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Office market sees greater emphasis on flexibility
Flexibility is the name of the game for the office sector in the post-pandemic era. The hybrid work model — employees dividing their time between home and office — has come to dominate the market, and flexible office solutions are stepping in to support greater flexibility in where employees work.
The effect of hybrid schedules can be seen in physical occupancy trends. The difference between the highest occupied day of the week (typically Tuesday) and the lowest occupied day of the week (typically Friday) averages about 25 percentage points, according to data from keycard operator Kastle, which tracks physical occupancy with its Back to Work Barometer. For the week of May 17, the highest occupied day of the week saw an average physical occupancy of 58.5 percent across the top 10 cities, while the lowest occupied day of the week had a physical occupancy of only 32.4 percent.
The adoption of hybrid work models is driven in part by employee retention,