Principal Financial-Remote work

I can't read the article but it says "new hires."

I don't have a dog in the fight but does the article say anything about established workers?

Not directly but an economist evaluating this said it is "consistent" with other findings that remote workers are less productive.

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I see your study and raise you another study.


And again, the myopic view. What is the impact on recruitment and retention, employee engagement among other things.
 
Not directly but an economist evaluating this said it is "consistent" with other findings that remote workers are less productive.

View attachment 115738

Hey found another! What's amazing to me is all these CEOs pushing a return to office even when study after study shows productivity up then bam this one study shows productivity down in a very specific scenario. It's a little odd on the timing.

 
Not directly but an economist evaluating this said it is "consistent" with other findings that remote workers are less productive.

View attachment 115738
What is the full statement that got cut off at the end. Seems like a “yeah but” statement that might conflict with the premise of overall less productive.

I’d look myself but can’t access article.
 
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What is the full statement that got cut off at the end. Seems like a “yeah but” statement that might conflict with the premise of overall less productive.

I’d look myself but can’t access article.

Here's the full quote:

"According to Jose Maria Barrero, an economist and co-founder of WFH Research, a group dedicated to the study of remote work arrangements, this latest paper is consistent with others that have found fully remote work is less productive than fully in-person or hybrid work. Still, even if fully remote work is less productive, he notes it could be worth it for companies that save substantial sums on real estate."
 
Here's the full quote:

"According to Jose Maria Barrero, an economist and co-founder of WFH Research, a group dedicated to the study of remote work arrangements, this latest paper is consistent with others that have found fully remote work is less productive than fully in-person or hybrid work. Still, even if fully remote work is less productive, he notes it could be worth it for companies that save substantial sums on real estate."

This real estate issue is a hot button item in the federal government.

They say they need people back in the office for perception, so they are "productive", etc.
but at the same time the Federal Government have these massive buildings they either own or are leasing for a zillion dollars a year.

on top of that, the pleading mayors in places like DC to get more people back in the city so all their businesses don't go under (if they haven't already).

there are a lot of issues on both sides of the fence with this. Interesting times for sure.
 
This real estate issue is a hot button item in the federal government.

They say they need people back in the office for perception, so they are "productive", etc.
but at the same time the Federal Government have these massive buildings they either own or are leasing for a zillion dollars a year.

on top of that, the pleading mayors in places like DC to get more people back in the city so all their businesses don't go under (if they haven't already).

there are a lot of issues on both sides of the fence with this. Interesting times for sure.

Not sure I'm down with being forced to spend my time and money for an urban make work project.

If we believe in creative destruction and disruption then the urban core needs to pivot
 
This real estate issue is a hot button item in the federal government.

They say they need people back in the office for perception, so they are "productive", etc.
but at the same time the Federal Government have these massive buildings they either own or are leasing for a zillion dollars a year.

on top of that, the pleading mayors in places like DC to get more people back in the city so all their businesses don't go under (if they haven't already).

there are a lot of issues on both sides of the fence with this. Interesting times for sure.

I know my company downsized office space substantially when most of us went remote in 2020. It allowed us to add a few more positions within my team which has increased production significantly.
 
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I know my company downsized office space substantially when most of us went remote in 2020. It allowed us to add a few more positions within my team which has increased production significantly.

My company was on a building spree right before covid. They're leasing many floors out and cutting way back on available space.

Turns out some folks wanted to work in the office, but the space was still too large. People weren't bumbing into each other even in the reduced space
 
Not sure I'm down with being forced to spend my time and money for an urban make work project.

If we believe in creative destruction and disruption then the urban core needs to pivot
This was my response to the slightly higher ups I deal with at my work. I'm someone who is fine going to the office, but I was trying to speak for the prevailing opinion on the team.
 
This real estate issue is a hot button item in the federal government.

They say they need people back in the office for perception, so they are "productive", etc.
but at the same time the Federal Government have these massive buildings they either own or are leasing for a zillion dollars a year.

on top of that, the pleading mayors in places like DC to get more people back in the city so all their businesses don't go under (if they haven't already).

there are a lot of issues on both sides of the fence with this. Interesting times for sure.
We are about 3-5 years out from knowing full answers on the WFH situation. It takes 5-7 years for economic changes to occur and then to have a true understanding of the results. Will the economy improve and be more efficient? Will the empty buildings cause other businesses or the RE sector to have many BKs and slide us into a recession or crater downtowns? Will things not change much at all?

The areas that are most susceptible are service type jobs. Advice, data collection, doing things that can be done by the individual hiring it, are always more susceptible to issues than production oriented jobs.
 
Not sure I'm down with being forced to spend my time and money for an urban make work project.

If we believe in creative destruction and disruption then the urban core needs to pivot

Ya the “live, work, and play downtown” thing is dead after CoVID. It peaked in like 2017/18 probably. It still works in larger cities like KC/Nashville/Portland etc. but for a place the size of DSM it’s dead.
 
Here's the full quote:

"According to Jose Maria Barrero, an economist and co-founder of WFH Research, a group dedicated to the study of remote work arrangements, this latest paper is consistent with others that have found fully remote work is less productive than fully in-person or hybrid work. Still, even if fully remote work is less productive, he notes it could be worth it for companies that save substantial sums on real estate."

and again, study after study shows a 4 day workweek at full pay is more productive and beneficial. Why are the same companies jumping to RTO also jumping to do a 4 day workweek?
 
Ya the “live, work, and play downtown” thing is dead after CoVID. It peaked in like 2017/18 probably. It still works in larger cities like KC/Nashville/Portland etc. but for a place the size of DSM it’s dead.
Hopefully prices follow that trend and I can pick up a cheap condo in Des Moines. I've had my eye on one of those brown camp lofts for a long time.
 
Just my opinion of being both a seasoned member and new hire during work from home. In the office is beneficial during your onboarding and training time, after that working from home works well

I think making office time purposeful is really important. Vs generic "50%/2 days/3 days" in the office. So things like onboarding new employees, on site conferences/meetings, focused brainstorming sessions on a particular project, team meetings -that makes sense to do in person.
 
Hopefully prices follow that trend and I can pick up a cheap condo in Des Moines. I've had my eye on one of those brown camp lofts for a long time.

I’m not usually one to broadly sweep like this and I think everyone knows my political leanings, but downtown Des Moines is a ********. It has fallen so far so fast. From what I saw the last time I was there Everything is moving west to the gateway area and up towards Ingersoll and east towards EV/Market area. The core was never really good in the first place and it’s even worse now. The passed out naked people and the people just openly downing liquor and yelling and milling about was disturbing. I thought one passed out naked guy was dead. (This was across the street from like the little Kum and Go down there).
 
I think making office time purposeful is really important. Vs generic "50%/2 days/3 days" in the office. So things like onboarding new employees, on site conferences/meetings, focused brainstorming sessions on a particular project, team meetings -that makes sense to do in person.

Agreed, basically, work in a location where you’ll be most effective.
 
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We are about 3-5 years out from knowing full answers on the WFH situation. It takes 5-7 years for economic changes to occur and then to have a true understanding of the results. Will the economy improve and be more efficient? Will the empty buildings cause other businesses or the RE sector to have many BKs and slide us into a recession or crater downtowns? Will things not change much at all?

The areas that are most susceptible are service type jobs. Advice, data collection, doing things that can be done by the individual hiring it, are always more susceptible to issues than production oriented jobs.

I work for a large DSM metro employer and there were a few departments that were allowed to stay 100% remote and not pushed back to a hybrid model. The 100% remote groups used to have a ton of turnover because they were "a foot in the door" type position. My department used to hire a lot of these people and they are no longer applying for open positions since it would require them to come to the office a couple days a week. So long story short, we are having a tough time finding candidates with the experience we typically like and in turn are hiring external applicants who typically have a much steeper learning curve.
 
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