Q3 2024 Global Occupancy Benchmarks Report
The Workspace as a Catalyst: Balancing Efficiency and Employee Experience
“Because workplace is an option right now…the reality is that the employees need to feel that they get in the workplace what they need in order to be productive. And if that is delivered, then they will come.”
– Luis Morejon, MCR, Head of Global Workplace Operations – Uber
As Return to Office transitions to business as usual, employee behavior patterns are still reshaping the company culture. While long-term impacts have proven difficult to forecast with so much still evolving, an understanding of the data and trends can help balance optimization opportunities with increased employee engagement and a redefined workplace value proposition.
Key Findings
- Potential impact of RTO mandates
Peak occupancy was higher in APAC (48%) and LATAM (47%) and frequency was more consistent than comparable offices in Europe and North America, suggesting RTO mandates are more effective in these regions. - Shift in visit patterns
Short to medium-duration visits continue to rise globally, signaling the persistence of “coffee badging” and task-specific visits. - Potential cost savings
North American and European offices, often more expensive and requiring additional amenities, offer greater opportunities for rightsizing. This presents a chance to reduce operational costs by optimizing and aligning workspace with employee preferences and work habits.
APAC and LATAM Lead in RTO Activity
APAC and LATAM lead Return to Office efforts with occupancy rates of 48% and 47%, respectively, in Q3 2024.
North America and Europe remain stable with occupancy rates at 35% and 27%, showing minimal change since Q1 2024.
Global Preference for 2-3 Days/Week Across 2024
LATAM observed a 3-point increase in 2-3 days per week office visits, along with a 2-point rise in 4-5 days per week visits.
Visiting the office 2-3 days per week remained the most preferred frequency across all regions, while 4-5 days per week continued to be the least preferred.
Short- to Medium-Duration Visits Highest in APAC, LATAM
High occupancy rates coupled with a rise in short- to medium-duration office visits suggest an increase in task-specific visits or the possibility of “coffee badging” across all regions, particularly in APAC and LATAM, during Q3 2024.
APAC Maintained the Lowest OVI* Throughout 2024
An increase in Monday visits reduced OVI in LATAM by 3 points, reaching 24%, indicating more stable occupancy throughout the week.
North America and Europe showed little variance in OVI since Q1 2024.
Check out the full Q3 2024 Basking Global Occupancy Benchmarks Report to access all the trends and explore strategic opportunities for empowering CRE success. For a deeper dive into the data and key insights, don’t miss our Q3 2024 Benchmarks Webinar with Uber Head of Global Workplace Operations Luis Morejon.
Contact us to learn how we can help you assess your occupancy and maximize flexibility to support your utilization strategy.
