The Great Return to The Office
As the world emerges from the pandemic, many businesses are deciding whether to continue remote job arrangements or return to office work. While remote work has allowed for flexibility during the pandemic, there are also significant benefits to the office for both employers and workers. In this article, we’ll explore the benefits of the return to the office and the different companies that have enacted RTOs.
Most notably, employers have seen a decline in the productivity gains experienced at the onset of the pandemic. Now, as companies are restructuring businesses to mitigate a potential economic downturn, they have called workers back into the office. Some executives and leaders believe productivity increases when workers are in the office together, and others believe it increases in-person collaboration. Companies such as Amazon, Apple, Disney, IBM, Salesforce, and Google have announced return-to-office policies in 2023. A study by Unispace found that 72% of companies surveyed say they have mandated office returns. Return to office isn’t a hypothetical scenario, it’s now a reality.
Additionally, we’re seeing the overall share of job postings that advertise remote/hybrid work options has fallen over the past year, from a peak of 10.3% in February 2022 to 8.4% as of June 2023 according to the Hiring Lab, the economic research arm of Indeed. While many employees may say they don’t want to go back to work, most report that the return has been a positive experience. 71% of workers who have gone back to the office say they are more satisfied with their jobs, and ¾ say they are more effective and productive, according to SHRM research conducted in June 2023.
Employers are recognizing the advantages of bringing employees back to the office too, as it not only encourages collaboration, idea-sharing, and brainstorming sessions but also fosters casual interactions like coffee breaks and socializing. For new employees, especially those belonging to Generation Z or younger Millennials, this return to the office can be transformative. Without the chance to learn from seasoned colleagues and communicate with more established coworkers, they miss out on valuable opportunities to assimilate into the company’s culture and gain a deeper understanding of its values.
In conclusion, while remote work has its advantages, the in-office work experience offers a unique set of benefits that are crucial for fostering collaboration, strengthening organizational culture, promoting effective communication, and providing opportunities for professional growth.
View the Major Employers RTO PDF
Download the Q2 2023 Austin Office Market Report