Latest survey results reveal changing COVID-19 developments continue to perplex employers.

A just-released survey from The Partnership for New York City reveals how the latest COVID-19 developments have influenced return-to-office policies among major employers. Conducted between August 9 and August 20, the survey shows that 54 percent of employers have not delayed their plans for bringing workers back.

According to the results, 23 percent of Manhattan employees had returned to the office by late August, while the figure is expected to reach 41 percent by the end of September. By comparison, in late May, only 12 percent of employees had returned to work. The numbers are lower than the ones revealed by a similar survey from the Partnership in May, which projected a 62 percent return rate by the end of September.

A total of 85 percent of real estate employees had returned to the office at the time of the survey, registering a 15 percent increase since May, while most financial services employees still worked from home, with only 29 percent back at the office. Most firms adopted the “hybrid” working model (70 percent), in which employees can work remotely for part of their weekly schedule. Only 26 percent of employers require their workers to be in the office full time.

Broker confidence within New York City rises to record levels

report from the Real Estate Board of New York released earlier this month showed that broker confidence within New York City had risen to record levels, with optimism fueled by increased vaccination rates and the return of tourists. Since then, the accelerated spread of the Delta variant and breakthrough cases might have tampered that soar, revealing once again the unpredictable nature of the ongoing health crisis.

Publication Credit:
Real Estate Investment SmartBrief