NEW YORK–As credit unions have wrestled with the issue themselves, new research suggests that companies are becoming tougher on enforcing policies requiring employees to return to the workplace.
The research findings come in an environment in which more employees are working from home. The New York Times cited data showing the proportion of employees working remotely is about four times as high today than before the pandemic, according to the latest monthly survey from researchers at Stanford University, the Hoover Institution and Instituto Tecnológico Autónomo de México.
Seeking to Shift Ratio
“Companies are trying to shift that ratio. JPMorgan Chase and Goldman Sachs were among the first major employers to call for staff members to return to the office full time,” the Times reported. “In May, Barclays, Citigroup and HSBC cited new financial regulations in ordering more workers to do so.”
According to the report, managers are increasingly enforcing return-to-work (RTO) policies, including finding that about 17% of survey respondents said that employers did nothing when employees didn’t comply with office attendance requirements. That’s down about half from 2022, the report added.
“Almost a quarter of respondents said that violators faced termination, up from 11% in 2022,” the researchers found.
Other punishments include negative performance reviews and reduced pay.
But Hold On Just a Minute…
“That doesn’t mean remote work is about to die,” the Times report added. “Office vacancies hit a record 20.1% in the second quarter, according to Moody’s. Don’t expect those spaces to be reoccupied anytime soon: Almost 40% of survey respondents said they had a hybrid working arrangement or were entirely remote.”