Major CEO’s Want Workers Back In The Office, But Remote Work Is Still Expected To Increase

The San Francisco Business Times August 29, 2023 reported that the latest Survey of Business Uncertainty (what a name!) from the Atlanta Federal Reserve Bank, University of Chicago and Stanford University, which surveys 500 business executives each month, ‘Executives predicted that about 72.6% of their employees would be working full-time onsite in 2028, down slightly from the 75.7% actually working onsite in 2023. Executives also said about 16.3% of employees would be hybrid by 2028 and 11.2% would be fully remote — both up from where they are now, according to the survey’. The issue is many small businesses and new companies ‘were far more likely to use remote work to cut costs and more easily recruit new workers.’ Only 22% of younger companies are totally in the office. There have been a number of surveys showing that major corporations overall plan to cut their office requirements by 10-20%. What is the positive side of this? It may be a tenant’s market for years to come…