The landscape of return-to- office (RTO) policies is proving to be a dynamic and intricate challenge for companies. While some studies suggest that in-office work enhances productivity, the debate on whether to embrace a remote or hybrid model persists. A recent survey was conducted to understand the plans and sentiments of companies regarding RTO in 2024.
The survey targeted 1,000 office workers aged 25 or older. Respondents, including C-level executives, directors, and senior management, were required to be employed for wages (90 per cent quota) or self-employed (10 per cent quota). To ensure relevance, respondents worked at companies with 11 or more employees, with a household income of at least $75,000 per year. Additionally, all respondents confirmed that their company’s pre-pandemic work policy was either in-person or hybrid, while the policy during the height of the pandemic was remote.
The survey revealed that 9 out of 10 companies with office space plan to have returned to the office by 2024. Notably, 64 per cent currently have a physical workspace, with an additional 20 per cent planning to reintroduce one by the end of 2024. Only the remaining four per cent have no plans for a physical workspace.
Among companies intending to reintroduce office spaces, only two per cent stated they never plan to require in-person work. Of those currently requiring or planning to require in-person work, 51 per cent currently do so, 39 per cent plan to by the end of 2024, and 8 per cent plan to by 2025 or later.
Of the companies that have already returned to the office, 72 per cent reported an improvement in revenue. The majority began requiring in-person work in 2021 (31 per cent), 2022 (41 per cent), or 2023 (27 per cent). The positive impact was seen in the form of productivity and worker retention.
An interesting revelation is that 83 per cent of companies that have returned to the office currently track employee attendance as well. A whopping 70 per cent of companies planning to return to the office in 2024 also intend to implement attendance tracking.
Additionally, 28 per cent of surveyed companies plan to threaten termination for employees not complying with RTO policies. Despite this, experts caution that companies must navigate this cautiously due to the current strong candidate market in many industries.
However, the survey also highlighted a significant contrast between current in-office requirements and the anticipated RTO plans in 2024.
Currently, 71 per cent of companies enforcing in-office work expect at least three-quarters of employees to be present, with 36 per cent mandating a five-day in-person workweek. However, among those planning RTO in 2024, only 44 per cent anticipate a three-quarters in-person requirement, and merely 19 per cent envision a mandatory five-day workweek.
While a substantial number of companies are poised to return to office by 2024, the rise of hybrid schedules and the potential backlash from employees resistant to in-person work warrant careful consideration.