Why Companies NEED People Back In The Office

Why Companies NEED People Back In The Office

How Money Works

1 год назад

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Edited By: Andrew Gonzales

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#career #business #workfromhome

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According to study after study, working from home leads to more efficient workers, less staff turnover, higher quality work, it’s cheaper for workers AND it’s cheaper for the business.
Before Covid-19 high tech companies were already experimenting with the advantages of remote work.

A peer reviewed report from an unidentified NASDAQ listed company ran a trial where half of their call center workforce was randomly selected to work from home and the other half would remain in the office. The group given the opportunity to work from home had higher customer satisfaction, took thirteen percent more calls and suffered fifty percent less staff attrition which is a big issue for call centers which typically struggle with high staff turnover. A follow up study done on workers in a wider selection of roles including finance, marketing and software development had similar results. They compared staff working full time from the office with staff working hybrid schedules from home and the office. That study found that hybrid workers were eight percent more efficient at their jobs and had turnover rates thirty five percent lower than staff working in the office full time. If businesses want to get the most out of their workers the results are clear, more work from home is more better… Working from home is also cheaper for the business.

Office space is expensive to rent or buy. Companies that want all their workers in the office will pay more for utilities like electricity, maintenance, security and internet that workers would happily pay for themselves if they were allowed to work from home. It’s rare that companies turn down better results for less money but in this case there are four reasons that more are demanding their staff come back to the office.

The first reason is that a lot of companies are not doing so well right now, interest rates are high, investors are not throwing money around like they were in 2020 and companies need to make cuts. The easiest and largest ongoing expense for most companies are their employees. If a business is getting less work that usual laying off staff is a prudent business decision.

If a business can cut expenses at the same rate as lost revenue then it may be able to maintain profits to keep shareholders happy. If a business is making less revenue then it also means there’s less work to do so it just won’t need as many staff. The problem is that laying off staff signals to the market that the company is struggling which can affect the share price, make it harder to generate new business, and make it harder to hire new staff in the future. Nobody wants to work for a company that lays off a lot of people on a whim and customers don’t want to work with a company that looks like it might go out of business. What companies really need is a way to get rid of staff without formally laying them off… Business leaders have already seen the studies and they know that forcing people to work from the office leads to higher staff turnover which in this case is exactly what they want.

Investment banks like J.P. Morgan and Goldman Sachs which have seen declining revenues from less corporate deal activity are forcing all of their staff to return to the office full time. Their official communications stressed the importance of face to face interactions with clients and co-workers. Senior investment bankers from both firms (who love to talk about how much harder they worked when they were analysts) accidentally said the quiet part out loud when journalists contacted them about their firms decision to bring everybody back. A senior manager at Goldman declared to the Financial times that “Goldman does not want to hire people for whom the most important thing is how many days they have to spend in the office.”

At the moment this plan could backfire for businesses. Unemployment is still low and it’s easy for high performing employees to find a new job so managers using this tactic need to be careful or they will be left with nothing but their worst employees… An easy way to get rid of staff without the bad publicity is just the first reason.

So it’s time to learn How Money Works to find why you are going to be forced back into the office even if it makes no business sense.

Тэги:

#work_from_home #companies_work_from_home #is_working_from_home_better #careers #business #return_to_office #working_from_home_layoffs #home_office #working_from_home_more_efficient #hybrid_work #companies_hybrid_work #office_rental_crisis #office_rent #converting_office_space #open_plan_office #how_money_works #how_history_works #why_companies_hate_work_from_home #layoffs
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Комментарии:

Art Vandelay
Art Vandelay - 26.09.2023 19:17

You gotta love corporations

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James Masters
James Masters - 26.09.2023 17:54

Called it. All about manipulation and not money

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ramune64
ramune64 - 25.09.2023 16:43

so glad people are waking up. I used to be held hostage by my bosses talking my ear off at the office. Never got any work done till they left the room. These managers need to stop expecting the world to feed their egos and lick their boots

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econ dude
econ dude - 25.09.2023 15:00

M I C R O M A N A G I NG

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Duka
Duka - 24.09.2023 15:16

Imagine selling all those useless office buildings and converting them into accomodations. Or tear them down and build new homes. Considering most office buildings are in areas which lack affordable housing the could really help people out.

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Freyna BD
Freyna BD - 24.09.2023 14:31

Such negative messages about distrust in the US workspace. Is that the reality?

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Pēteris Krišjānis
Pēteris Krišjānis - 24.09.2023 13:32

This is all increasingly miserable and BS. Just shows how capitalism is just winging it and is not only one and only solution to our advancement. In fact, it is just needed for those with greed and other quirks who need reinforcement of their psychological problems.

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TG Wazoo
TG Wazoo - 23.09.2023 22:52

I don’t know. There is no reason to believe any research studies that work from home is more productive. We are currently in an environment where many research studies use fake data. Peer review seldom takes place. Sometimes it cannot take place because the people doing the studies refuse to provide their data.

What makes this particular study claim so suspect is that it defies human nature. It’s natural for human beings to be less hard working in an unsupervised relaxing environment all by themselves. The only exception to this natural trait is if you are working for yourself, and even that factor is not reliable.

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DrPhatDooky
DrPhatDooky - 23.09.2023 08:58

My last corporate accounting job tried to get us to come back into office. Didn’t quite go to plan when 2 other accountants quit and our FPA manager found elsewhere to work from home. If companies want to demand that, fine, but they’re going to be losing crucial personnel.

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Dhilboy lion
Dhilboy lion - 21.09.2023 00:31

How does the idea of in-person work socially engineering incentives to work harder/longer (reason 4) fit with data showing higher productivity at home?

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R
R - 20.09.2023 15:57

Customer confidentiality is the main reason you ALL should want companies to get back into a controlled work environment…. Trust me I’ve been in tech business development and focused in security…this is a nightmare waiting to happen…plus the number of productivity were outright 100% opposite of the reality … teams are more productive in office setting

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drkinferno72
drkinferno72 - 20.09.2023 01:12

They can't control you 😂

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Marcel Perez
Marcel Perez - 19.09.2023 16:26

Recognition like employee of the month goes a long way ..... haha, this video is funny

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Marcel Perez
Marcel Perez - 19.09.2023 16:23

Corner office and secretary bringing coffee, is that really a perk?

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Bill Smith
Bill Smith - 19.09.2023 04:44

Companies are trying desperately to justify the sunk costs in their expensive office holdings along with an org chart that could use a pruning of useless management.

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Mirabela
Mirabela - 19.09.2023 01:35

In pandemia season I had online classes (college) and it was a nightmare coz my private life was melted with college life. I think that sometimes knowing that you have to prepare yourself and go out is actually good for motivation.

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TheFatChicck
TheFatChicck - 18.09.2023 09:47

Sorry, but the oligarchical shareholders can go ffkk themselves. Also, my late father telecommuted for his job at NOAA/NODC since the mid to late 90s (mainly because previous rethuglikkkan administrations froze the hiring process and cut back on their fundings, thus they had to be frugal while doing important work in exposing Big Oil's Big Lie about climate change), so it's definitely a possibility to work from home. The rest of the private sector don't want any of that because they're control freaks with no hobbies worth talking about.

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josh S
josh S - 18.09.2023 00:43

Still not hearing a good reason to return to the office, just manager egos and short sighted profits that do not benefit the long term health of the company.

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Dark Highwayman
Dark Highwayman - 17.09.2023 21:12

if we can bag travel time...That's a huge time and money saver.

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Charlie Papa
Charlie Papa - 17.09.2023 18:46

Why? A majority of the cubicles in the country could be at home. To this videos point, working from home is cheaper. Much to many commenters point and knowing how corporate America is, its control and you should fight back.

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Jacob Stamm
Jacob Stamm - 17.09.2023 18:29

Reason #2 is a theory and should be presented as such

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Eric VonDielingen
Eric VonDielingen - 16.09.2023 07:32

As a tradesman pulling 200k to 250k each year on a job site. You WFH people are annoying. Learn a real skill and you’ll get paid real money. Until then don’t cry to us about how your life is so miserable. Most of you besides the occasional tech engineers, lawyers, etc. Just don’t have good jobs and you’ll make up whatever excuse you can find to avoid your job at the office. It’s hysterical. We’re tired of you. Those of us with real jobs and valuable skills don’t wake up every morning and complain about driving to work. Give me a break……

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Gerard Lee
Gerard Lee - 16.09.2023 03:07

I actually like office more, because i tend to work more at home and its therefore more stressful

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kirkHamster002
kirkHamster002 - 14.09.2023 07:17

Wfh..all the way. Office is full of distractions.

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Emma Louie
Emma Louie - 09.09.2023 23:43

Call centers lay off their employees anyhow. There is no way to move up to anything. PEOPLE WHO WORK IN CALL CENTERS HAVE BAD HEALTH INSURANCE EVEN IF THEY ARE BUYING IT.

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Emma Louie
Emma Louie - 09.09.2023 23:42

It's not cheaper for it's workers because GAS IS EXPENSIVE AND SOME PLACES COMMUTES ARE HELL.

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Eli Alexander Clark
Eli Alexander Clark - 09.09.2023 15:06

If there’s nobody in the office, they can’t write off the office.

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Wejpasadena
Wejpasadena - 08.09.2023 22:40

CEO’s who want workers back in the office need to address an issue I don’t hear them talking about, which is that in many urban centers office workers don’t feel safe riding in public transit and walking from transit stations to their offices. CEO’s have limousines or at least a car service and are insulated from the real world.

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Nikolay Ivankov
Nikolay Ivankov - 08.09.2023 10:23

If you work from home, you don't need a bigger office, so how would we be able to coerce you to ruin your personal life and health on pretending to work unproductive extra hours, in order for us to get a big fat bonus by ramping up some artificial numbers in a PowerPoint presentation we'd be incapable of producing without constantly interrupting you to ask how to Ctrl+V.

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MaybeFactor
MaybeFactor - 06.09.2023 10:26

So, reason 2 is literally just the sunk cost fallacy... we're paying/paid for offices, so YOU have to use it!

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mitkotoshkov
mitkotoshkov - 02.09.2023 19:52

They want to infect us with the new virus, and it's easier if we gather in their human farms

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Albert Gaspà
Albert Gaspà - 02.09.2023 10:44

1) workers are not the most expensive asset of a company, is the most productive one. But if we put all the persons of a comoany in line from the cheapest to the most expensive one, we'll find most of the executives have absurd incomes for the work they actually do.
Those executives have parasitic behavior, their incomes, that actually depends on workers productivity they just believe that depends on shareholders happiness, so they are a captain throwing rowers to the sea to release ballast to gain speed because the owners of the boat want him to go faster....(but he is keeping an entire luxurious appartment in the boat....)
Workers should never be less than 70% of the shareholders

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Aaron Hersey
Aaron Hersey - 02.09.2023 03:35

Ah yes the "face to face collaboration" excuse yet all meetings in the office are still done on Teams.

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Salvo
Salvo - 02.09.2023 02:00

More better... lol

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Vopadeva
Vopadeva - 31.08.2023 16:09

Time to quiet quit the office. When they see mass quitting because of the return to the office they’ll get the memo.

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Eroc Gittens
Eroc Gittens - 30.08.2023 23:53

What I don't understand is that we are hindering the evolution of how we work to cling to these old ways that are clearly redundant by now. The times are changing, it's best to go with the current than it is to swim against it fr

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Dexwin09
Dexwin09 - 29.08.2023 22:20

So the simple solution is to sell the building, and just get a 3 room office for the higher ups and continue making money.

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Aye Flippum
Aye Flippum - 28.08.2023 06:58

Returning employees to the office won't reduced the rent; remotely working won't increase the rent. In other words, using rent as the excuse is bogus.

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J AE
J AE - 24.08.2023 13:19

When unemployment ramps up, everyone would be back in the office... Americans like to talk big when times are good

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Big Gay Dave
Big Gay Dave - 23.08.2023 20:26

My managers hate this, but we all know it’s real estate and hand shakes with the cities where the offices are.

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Z Jones
Z Jones - 23.08.2023 05:12

Been there done that. Never going back to working in an office again. My skill set is 100% combatable with remote work.

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Syed Saif Mansoor
Syed Saif Mansoor - 23.08.2023 04:20

People are spoilt, it's for the employer to decide what model they want. 3 years ago , no one was working from home , we all are lazy working from home .

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Dave Mbassi
Dave Mbassi - 22.08.2023 19:38

Oh, I remember every. single. salary I ever made.

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SamBoga
SamBoga - 22.08.2023 11:53

It's all about justifying the existence of "People's Manager" having almost non existent hard skills. They can't do anything if remote work is in place.

The corporate is not a place where doing the right thing matters. Corporate is a place where politics and micromanaging matters at cost of actual company and societal benefit. I have seen successful projects being Canned after change of management just because it was being done by the previous management.

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Prick Ayeey
Prick Ayeey - 21.08.2023 22:26

I cant be a condom tester and get paid for it from home

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GovernmentFails
GovernmentFails - 20.08.2023 17:50

The company i work for loves remote work and is using it to weed out the useless middle management. Our stock price is through the roof

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GirlOnAQuest
GirlOnAQuest - 20.08.2023 08:03

I'm on disability benefits so I don't have to worry about working so I feel pretty bad about people who have to deal with this crap everyday. Which is why I should just move to China and eat a couple more bats to start a new pandemic so that you guys can stay home. 😂😂😂😂

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When Darkness Falls
When Darkness Falls - 19.08.2023 03:53

You clearly don't know how things work✌️

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