The Changing Landscape of Office Attendance in 2023-2024

May 3, 2024 By Valantis Aristides Tags: REAL ESTATE

As businesses navigate the post-pandemic world, the return to office (RTO) trends offer a fascinating glimpse into the evolving work culture across the United States. Data from Advan, the leading provider of accurate cellphone location data, reveals intriguing patterns in office foot traffic, shedding light on employee behaviors and corporate policies throughout 2023 and into early 2024.

Last year began with a strong turnout, with January 2023 seeing a significant 37% increase in office visits compared to the previous year. This trend, however, showed a gradual decline as the months progressed, with February (26%) and March (10 %) indicating a tapering off of initial enthusiasm. By mid-year, the increase slowed further, with July recording just a 5% uptick.

office visits yoy

A noticeable pivot occurred in the latter part of 2023, where September and October marked the first decreases in year-over-year foot traffic, dipping to -1% and -2% respectively. This trend suggested a possible reevaluation of RTO policies or growing acceptance of hybrid models.

Entering 2024, the data presents a mixed picture. While January showed a modest increase of less than 1%, indicating a cautious optimism, February and March experienced healthier boosts of 5% and 6%, respectively. This could be interpreted as a stabilizing effect of new work norms or seasonal adjustments in work patterns.

Looking closer at weekly office visits for the early months of 2024 reveals specific patterns on different weekdays. Advan’s data shows a stark contrast in attendance behaviors during the week. Tuesday emerges as the most popular day for office visits, with a 9% increase compared to the same period in 2023, suggesting a peak in mid-week activity. Thursday also shows a positive change with a 4% increase. However, Mondays, Wednesdays, and Fridays all show negligible to negative changes, with both Wednesdays and Fridays seeing a 1% decrease and Mondays remaining flat.

office visits yoy weekdays

This pattern might reflect a consolidated effort by companies to focus critical in-office interactions and collaborations around mid-week, potentially allowing for longer weekends or remote workdays on Mondays and Fridays, accommodating the persistent preferences for flexibility post-pandemic.

The fluctuations in foot traffic highlight the ongoing adjustments in corporate strategies and employee preferences. Businesses appear to be exploring a balance between in-office collaboration and remote flexibility, with Advan’s data serving as a critical barometer for these shifts.

As we move deeper into 2024, it will be essential to watch these trends closely to better understand the future dynamics of office work. Will the subtle increases in early 2024 herald a more stable pattern, or are we witnessing the calibration of a new normal? Only time and data will tell, therefore stay tuned for more updates!

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About Advan

Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.

Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.