Is the era of mass remote work over? Some business leaders are hoping so.
In recent months, cities have reported an uptick in public transportation use as companies take a leap of faith and bring workers back into the office. However, the battle between employee and employer demands still isn’t totally resolved.
Even the biggest proponents of in-office arrangements know this, too. For instance, JPMorgan recently reported that office real estate is leaning into shorter, more flexible leases.
Additionally, cities like London and New York have seen companies continue to cut back on their office space. However, demand for Class A buildings is on the rise while older buildings struggle to find purpose in the post-pandemic era.
Kathryn Wylde, CEO of the Partnership for New York City, notes that the geographical location has also spread, leading many workers to the outskirts of cities.
The tug-of-war over preferred workplace arrangements is still rife with competition. Despite workers being concerned over an impending recession and turning to “job cuffing,” many are holding their ground in seeking new positions that best support their needs.
Still, walking away from the job on the eve of an economic downturn could give employers the upper hand for now.
“It’s not going to be so easy to give up your job,” said Wylde. “That will probably mean that people are less resistant to the requirement they are back in the office at least three days a week — which is where it feels like it is headed.”