And this trend will continue: The pandemic significantly increased the amount of research and patenting happening in technologies that support remote interactions. Work-from-home rates grew steadily over the half-century leading up to the pandemic, albeit from a very low starting point. The response followed basic economic logic: As the “costs” of remote work fell (lower inconvenience, for example), more people chose to do it. By the 2000s, the internet and nascent video calls made it easier still. By the 1980s, personal computers began to become more widespread and remote work became easier. In the 1960s, offices were entirely paper-based, and working from home was very inconvenient. They’re right to expect remote and hybrid work to increase, for four reasons.įirst, as remote-working technology improves, the share of people working remotely increases. “Looking forward to five years from now, what share of your firm’s full-time employees do you expect to be in each category in 2028?”Īs the chart below illustrates, executives expect both fully remote and hybrid work to continue to grow. The most recent iteration of the survey, conducted in July 2023, asks: businesses across industries and regions each month. It surveys senior executives at roughly 500 U.S. The Survey of Business Uncertainty is jointly run by the Atlanta Federal Reserve Bank, the University of Chicago, and Stanford. The only problem? Not even senior management expects this return-to-office push to work. Even Zoom’s leadership wants employees back in person two days a week. Since then, it’s steadily decreased and since early 2023 has hovered around 28%. Many executives believe it’s time to come back to the office: Jamie Dimon, CEO of JPMorgan, has declared himself a remote-work skeptic Mark Zuckerberg has declared that engineers “get more done” in the office and Google’s chief people officer recently told employees that office attendance would factor into performance reviews. Remote work spiked during the pandemic, from about 6% of full workdays in the U.S.
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