80% of bosses say they regret earlier return-to-office plans: ‘A lot of executives have egg on their faces’::As some business leaders accept hybrid work as a permanent reality, others are backtracking on earlier pledges to let employees work from home.
Those assholes should have never pushed the shit in the first place. Giving people the freedom to work from home and still live their life at the same time, then trying to snatch it away and force a return to the office, is clearly going to cause some serious push back. But these fucks were more worried about justifying their expensive office leases, than actually listening to and respecting their employees. A lot of those shit companies got what they deserved, empty offices, weakened workforce, and less overall productivity. Good job assholes.
“We believe that a structured hybrid approach — meaning employees that live near an office need to be onsite two days a week to interact with their teams — is most effective for Zoom”
If only there was some kind of chat/video conferencing software you could use to collaborate with your team anytime you wanted…
employees that live near an office need to be onsite
Sigh, why are you punishing people based on where they live?
That’s a great way to ruin moral. Create 2 classes of workers.
Brb moving to another state
There is this farmhouse that is going on the market in the middle of nowhere soon. If my work had that policy I would already be getting ready to list my current house.
Someone should create it, they would be millionaires, think of all the money these guys are missing out on. Some of these bosses should bring their teams into the office and get right to it.
80% of bosses regret their initial return-to-office decisions and say they would have approached their plans differently if they had a better understanding of employees’ office attendance, their usage of office amenities and other related factors
In other words, if they’d tried, even just a little, to actually do their jobs.
Bunch of clowns.
If they had even tried to talk to people, gather data, think about it…
In response, EY announced a fund in February 2022 to reimburse up to $800 per year for commuting, pet care and dependent care costs for each of its 55,000-plus U.S. employees.
Sorry… a < .5% raise isn’t enough to get me back in an office.
800 per year? My god what are these execs paying their nannies that they think this is anything substantial for such a massive sacrifice of time and energy to be in an office.
Yeah $800 would maybe cover my train tickets. Probably not quite. Pet care expenses? I don’t even really know what that means.
But dependent care??? They must be high.
Pet care… Dog walking, cat feeding. I assume.
$800 wouldn’t cover childcare for 1 child for 1 month.
Knowing an exec who has a nanny, they’re paying them around $7,000 a year and trying to make them feel like they never do enough
Their nanny works around 75 hours a week
Jesus Christ that’s cruel.
Regret how they went about implementing back to work.
The sunk cost of unused office space has been a major factor in companies’ decisions to change their RTO approach, says Kacher.
So what we’re seeing here is a situation where 80% of bosses fucked their businesses up by falling victim to an economic reasoning fallacy they teach you about in Econ 101?
I suspect they were ‘advised’ by the Banks and perhaps the government, to put the brakes on.
Every Corporation would be delighted to dump expensive city real estate, and “externalise facilities costs” to the workforce. ( which is what working from home is, from a balance sheet point of view). It’s what they teach at business school.
However, it would only take a handful of big players to to do this in succession to collapse the real estate market in most cities.
The knock on effect would likely include some large defaults by landlords and developers and who knows where that ends.
A secondary effect is house prices. certainly in London, where people pay a 2-5x premium to live within an hour of they high paying job.
If people no longer need to live near the office, why would they spend so much on crappy housing ? It would likely trigger an exodus away from the capital, collapsing the housing market.
In the UK if the housing market collapses, the economy follows it down the tube in massive way.
Hence the half hearted ‘push’ to get people back in the office .
Plenty of business owners in the US are invested in commercial real estate, so an undercurrent at least in the US is that a lot of people with decision making authority over this kind of thing personally stand to lose money if the value of commercial real estate falls.
It seems a bit off and corrupt from a business standpoint to deliberately mismanage your business in hopes of limiting personal losses from investments in other industries, but most of how business works in America seems off and corrupt to me.
I bought my current house, 5 years ago, in a MA town a little closer to Providence than Boston (but still rather convenient for both cities).
My real estate agent called me yesterday out of the blue to see if we were considering any moves. We’re not, because we refi’d a couple years ago at a great rate, and even moving into a similar value house now would mean a significant increase in our mortgage.
I’m sure she’s heard that same story a lot of times. Nobody wants to sell because they then have to buy, and we’ve all got great rates from a couple years ago.
I’ve never really accepted the theory that return to office pushes are driven by office maintenance costs, or whatever. Hell, those expenses go UP when everyone is back. Working from home takes away electrical usage, and mitigates janitorial demand. If productivity is up or equal, and building maintenance costs are down, then wtf is it really about?
The boss has to feel like he’s doing stuff.
It’s for the bad boss’ ego. Or the boss lives in fear that he adds no value to the organization and wants to hide that from his boss.
Hehe, how is he going to self-promote if there is nobody to see him boss people around?
I’m surprised people in this comments section aren’t aware of the real estate mob. It’s the oligarchy who are pushing for return to offices. They have valuable investments in both big companies and the real estate, and they don’t want to see the values of their assets going down.
Somebody posted about this on lemmy a week or so ago. I’ll see if I can find it.
Don’t worry, they will divest now while it’s propped up. When they are divested and it’s suckers holding the bag, they will be fine with wfh.
The dam is broken, there is no going back. It will be different by company and industry but it’s not going away.
I just don’t get it. That money has already been spent or guaranteed for the current leases. It’s a sunk cost either way. If they end up not needing it that office space then, once those leases are up, that become a cost saving and improve the bottom line of corporate profits right?
Only thing I can think of is that a a considerable percentage of upper management are getting kick backs by property owners who can see what WFH policies mean to their business model, or there are a lot of managers that don’t know how to evaluate employee performance based on their deliverables.
It’s about ego. The boss doesn’t know how to make the company perform better, they’re all out of ideas. They have to change something to make it look like they’re doing something, so RTO is the low hanging fruit.
There’s really no more justification needed than that. Looking at practical benefits to explain RTO pushes won’t get you answers because the practical benefits are so slim and conditional relative to the strain it creates.
It’s all about ego. They self-identity as the hardcore alpha boss that deserves high pay because they “earn” it. So to massage that ego, they go into the office even though they dont need to, and are meeting with nobody there. It’s pointless but it feeds their ego.
So they feel alone at the office…and in that worldview they are hardworking (an assumed condition), and nobody else is there, therefore everyone else is not hardworking (regardless of how much work they’re actually doing).
Glad the bosses are seeing this.
Yes but since in their minds they can never be wrong they are not gonna learn anything nor admit defeat.
Yes but since in their minds they can never be wrong they are not gonna learn anything nor admit defeat.
I have never heard the expression and am now wondering if the executives faces are covered in raw egg? Is it scrambled? Sunny side up? The German doesn’t know.
dont over think it. visualize someone with a raw uncooked yoke broken over their face…they look stupid.
its an older meme from before the internet but, it still clears port authority on occasion.
Yes this “meme” predates the Internet by just a tad.
With egg on one’s face means means appearing ridiculous or foolish because of one’s actions. The phrase with egg on one’s face is an American idiom, though the origins are murky. One possible source goes back to popular theater during the 1800s and early 1900s.
don't over think itIf German engineers are anything to go by, you’re asking the wrong person to not over think!
They should have donkey shit and goat pee on their faces.
The whole farm, really, lining up to defecate upon their grins.
Remote good. On-prem bad.
Removed by mod
