Employees love it, executives know it saves money, researchers say society benefits. Our white paper, The Power of the Hybrid Economy, details the compelling argument why RTO is DOA.
From Silicon Valley to Wall Street, CEOs have expressed skepticism, anxiety — and outright hostility — about remote work. Whatever the rhetoric, though, they realize a sea change has occurred and things are never going back to a model that has remained basically the same for more than 100 hundred years.
The Survey of Business Uncertainty, conducted by the Atlanta Federal Reserve Bank, the University of Chicago and Stanford University, found that senior executives from nearly 600 businesses around the country, and across industries, believe more than a quarter of their employees will be either fully remote or hybrid by 2028.
And it only makes sense — remote work can have a profoundly positive impact for all concerned. It means happier, more motivated workers and leads to reduced costs for employers. It opens opportunities for individuals with disabilities, caregivers, and those living in rural areas. It also eliminates geographical limitations for hiring, allowing companies to tap into a more diverse talent pool. This shift toward inclusivity leads to better business outcomes by bringing fresh perspectives and ideas into the workplace.
You can read the full story in our white paper, The Power of the Hybrid Economy.
“Rarely as an economist do I see a change so profoundly positive for the majority of America’s businesses and workers. … Companies, employees and society all benefit,” writes Stanford economics professor Nicholas Bloom in The New York Times.
And while recent return-to-office (RTO) mandates from companies like Amazon and Dell have made the news, the research and data are pointing toward a major loss of talent for them as a result. A survey by LiveCareer, a platform for jobseekers, found that 53 percent of respondents fear onsite full-time work more than climate change, while 43 percent find it scarier than losing their romantic partner.
In other words, according to Professor Bloom, RTO is DOA.
Some numbers to consider:
- 94% of workers who can do their job remotely want a hybrid schedule (Gallup)
- 43.3% of employees who can work from home have a hybrid schedule (WFH Research)
- 72% of hybrid workers said they would only consider new jobs that provide hybrid schedules (IWG/Arup)
- 27.5% of full-time employees will be either hybrid or fully remote in 2028, say executives (Harvard Business Review)
- 81% of CFOs say hybrid is a significant cost-saver (IWG/Arup)
You’ll find more stats and research in The Power of the Hybrid Economy.
