How will the current and future of work look like? Is the hybrid work model here to stay?
Mark Ma, an associate professor of business administration for Pitt Business, and Yuye Ding, a Ph.D. student in Katz Graduate School of Business, looked at Standard and Poor’s 500 firms — the largest companies listed on U.S. stock exchanges — that had implemented return to work mandates, forcing employees to be in the office five days a week.
The results from the research study showed that while many of the companies said they were bringing employees back to the office to improve the bottom line, there were no significant changes in financial performance or firm values after the mandates were implemented. However, there was a sharp decrease in employees’ job satisfaction.
To keep employees’ happy and still maintain strong financial performance, companies should be more flexible and allow employees to work from home depending on their work nature, product/service, customers, industry etc. If productivity, work quality, and financial performance are not being negatively impacted by employees working from home, companies should allow employees work from home flexibility and provide support to them.