Apparently, the work-from-home trend is here to stay. Many companies have continued to let employees work remotely for at least some of the workweek — four years on from the early days of the COVID-19 pandemic — because it’s a win-win for everyone involved. Remote work is more profitable for companies and highly valued by employees. While some companies have issued return-to-office mandates, they’re the exception. The 5-day, in-office workweek is antiquated for a large share of workers, a relic of the pre-pandemic job market. According to Nick Bloom, an economics professor at Stanford University who studies workplace management practices, remote work is not going away and the days of full-time in-office work are gone. The big upside is that it reduces the employee turnover rate by about a third. That’s because workers value remote work, so they tend to quit less often. Consequently, companies don’t have to spend as much on hiring, recruitment and training if they lose staff less frequently. In addition, hybrid work doesn’t appear to have any negative impact on workers’ productivity. Statistics show that 90% of professionals and managers in the U.S. now work from home at least one day a week.
