Key Points
- Around 79% of CEOs predict their teams will be back in the office full-time within three years, a significant increase from early 2023.
- Only 17% foresee a hybrid work model in that same timeframe, a decrease from 46% earlier this year, based on KPMG’s survey of 1,300 global CEOs.
- Nearly 90% of CEOs indicated they would offer incentives like raises and promotions to employees who return to the office.
Amazon.com (AMZN) CEO Andy Jassy is a strong advocate for having his employees in the office every day, and he’s not the only one.
According to KPMG’s recent report, nearly 80% of the CEOs surveyed expect their staff to be in the office all week long within the next three years. This is a sharp rise from earlier in the year, where only 34% held this expectation.
In contrast, a mere 17% of CEOs believe their workforce will remain hybrid in three years, a drop from 46% earlier this year. These insights are drawn from a comprehensive survey of 1,300 global business leaders, including 400 based in the U.S.
Growing Trend: Returning to the Office
Paul Knopp, KPMG U.S. Chair and CEO, noted in a statement that while there is a clear push for a full return to office, there is still a need for flexibility. Indeed, remote work might be disappearing faster than you think, but companies are aware that they need to balance this with employees’ needs.
Incentives for Office Attendance
The report also highlighted that 86% of CEOs are prepared to offer rewards such as favorable assignments, raises, or promotions to employees who come into the office regularly. The corporate world seems keen on encouraging face-to-face interactions once again.
Several major companies like JPMorgan Chase (JPM), Walmart (WMT), and Amazon are joining the movement to bring workers back to the office full-time. This trend indicates a growing emphasis on in-office work across various industries.
However, those who enjoy remote work need not lose hope just yet. For example, Steelcase (SCS), an office furniture designer, reported lower-than-expected quarterly orders recently, suggesting that remote and hybrid work models remain popular. It implies a complete shift to office work might be more gradual than some CEOs anticipate.
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