Business travel is essential to driving employee engagement and professional development in the era of remote work, according to a recent study by American Express Global Business Travel and Harvard Business Review Analytic Services, which surveyed more than 400 professionals (mostly in managerial positions). The study found that travel for internal meetings and training “creates a more cohesive work culture, fosters collaboration and builds team bonds.”
Close to 90% of respondents said in-person interactions such as off-site workshops are “critical” for ensuring positive long-term relationships between employees and co-workers. Similarly, 71% believe remote work model can make employees feel disconnected from the organization. Forty percent believe fewer in-person internal meetings during the pandemic had a negative impact on their organization’s professional development and training. More than half said their company had collaboration issues because of fewer in-person internal meetings, while 52% experienced decreased employee engagement, and 49% faced communication challenges. Additionally, in-person interactions were found to be more effective than virtual meetings for team building (79% compared to 19%), brainstorming (70% compared to 26%), interviewing a job candidate (64% compared to 32%) and onboarding/training (58% compared to 31%).
The study also noted that, in 2024, a spike in internal meetings is expected to drive corporate growth globally.
NYC Office Occupancy Spiked After Thanksgiving
According to Crain’s New York, New Yorkers returned to the office in droves, after the Thanksgiving holiday. The city’s office occupancy hit 48.9% for the seven-day period ending Nov. 29, up 10.4% from the week prior. The city reached 50% of pre-pandemic in-office levels for the first time in early June and has remained within a few percentage points ever since, barring holidays, according to data. Office occupancy across cities nationally rebounded an average 9.7%.
Sources: Business Travel News, Crain’s New York
