Stanford economist cautions against an improbably quick return to office: it would likely require at least five days.

Unfortunately for him (or rather us!), that means fighting. So let’s hope there’s not another war imminently and that everyone carries on as usual, no matter the risk or expense to society as a whole. Justin Paget | Digitalvision | Getty ImagesThe work-from-home trend has proven itself as being here to stay, with many companies continuing to allow employees to work from home at least part time four years since Covid-19 first emerged due to the mutual benefits it presents for both sides: being more profitable for companies while highly valued by employees according to labor economists. While some employers have issued return-to-office mandates – they remain exceptions rather than norms. “Remote work is here to stay,” according to Nick Bloom, an economics professor from Stanford University who studies workplace management practices. “Five years from now, it may even surpass it now,” he asserted. The pandemic will leave behind one ‘enduring legacy’; working from home was uncommon before 2020. Bloom noted that workers who appreciate remote work tend to quit less frequently; remote work will remain popular over time and Professor Nick Bloom at Stanford University’s research indicates they value hybrid jobs like hybrid work as equivalent to an 8% raise. An office return mandate would necessitate an appropriate pay increase to prevent attrition, according to Heinemann. Companies spend less money recruiting staff if staff turnover decreases over time, said the analyst. One company reported to Bloom that each time an employee quit, the cost to them averages $20,000. Employers may reduce costs through reduced office space needs or by expanding recruitment efforts across geographic regions where costs of living may be less and potentially offering reduced relative wages, according to Bunker. Firms Care About Profits Not Productivity’Bloom stated that hybrid work does not appear to negatively affect workers’ productivity; ultimately “firms care more about profits than productivity”. “Whatever makes money in a capitalist economy tends to stick,” according to him. According to Indeed data as of May 2024, approximately 8 percent of online job postings advertised roles that involved remote or hybrid working arrangements. Though remote work opportunities have fallen since their pre-pandemic peak of around 10% in 2022, Bunker notes they remain “far above” what was seen prior to the pandemic (roughly 2.5% to 2.5%). He credits part of their recent decrease with declining job ads for software developers (which tend to advertise remote roles) rather than any general reduction from employers; when given an option of flexible employment arrangements 87% take it according to McKinsey research in 2022. But outside these “struggling” companies, forcing people back full time is usually not feasible. At that point, approximately 90% of professionals and managers in the U.S. now work remotely at least one day each week, said Bloom. Generally, evidence points towards remote work benefiting employees, firms and society at large (by cutting pollution caused by commutes and giving parents more time with their kids), according to him. It can even reduce pollution caused by transportation systems altogether – something else would likely prove far less advantageous! “[Remote working is] like a triple win! “, said he. It is hard to think of anything more worthwhile!” he concluded. “[Remote working] really hard.”