Doing the bidding of the commercial real estate industry, which is one layer below the banks in the layer cake
That makes no sense. Commercial landlords collect rent regardless of how often employees are on site.
The real reason for RTW policies is that companies want to downsize without firing workers (and thus without paying unemployment). Hence:
Amazon CEO Andy Jassy told staff they will need to be back in the office full-time, seemingly pushing 73% of his colleagues to consider quitting over the move
Stankey said 85% of them already lived near one of the offices. The remaining 15%, he said, will have to “make decisions that are appropriate to their lives.”
Commercial landlords collect rent regardless of how often employees are on site.
When leases come up for renewal, rational companies look at how much space they actually need and downsize their office requirements accordingly. That’s more or less what my employer is doing now. We own a vast building, but now we’ve sublet about a third of it.
Two of my previous employers went out of business or are on their final thread and moved out to some small office somewhere. Those buildings have each been vacant for about 2 years now. Can’t collect rent if no tenants
Right, but if you have a tenant then you don’t care what their WFH policy is.
Property holdings will always be more important to corporate America than the people that they employ.
Can anyone explain to me why companies are pushing RTO? Simply to justify some management positions? Or justify the big buildings they built? To me work from home would have so many advantages for a company and could actually be problematic for some employees. Not only can they save some costs on office space but it opens up their talent pool in a way that could lower wages. They could find someone living in low cost of living middle of nowhere that would do a job for 60k that someone in an expensive city couldn’t justify doing for less than 120k.
traditional middle management simply doesnt need to exist of you’re not baby sitting in person. everything else they can do could be AI handled or outsourced. except maybe training up and assessing for promotions. get used to training yourselves and self promotions by job hopping.
traditional middle management simply doesnt need to exist of you’re not baby sitting in person
I strongly disagree with that. Properly used, middle managers bring a lot. But I would say that, if a manager requires their staff to be on-site in order to manage them, they’re crap managers who should consider a career transition to frying fast food or gutting fish. They’re typically the ones who judge performance by perceived effort and how well the employee kisses ass, and their main focus is managing upwards by sucking up to their bosses. With remote workers, you need an effective way of assessing results or you’re hosed. I’ve been running remote squads since the 1980s, and for the most part, it’s only a problem if you’re an ineffective manager.
Its not all. I have found that companies that did not own much real estate have embraced wfh big time and have wound down any contracts they had. Ones stuck with offices they own or maybe long term contracts seem to but I doubt its going to be a good long term call. The only possible usage it might have is to encourage people to quit so you can reduce the workforce without lay offs but that is a crazy strategy as you are losing at best random folks and at worst the best you have.
I overlooked reducing workforce as a possibility. I’m not in the corporate world at all so I have no actual insight on anything. I’ve just been confused by something I’d consider a win-win being done away with by a lot of companies.
yeah everyone is confused with that. Many back to office scenarios have the people sitting in the office video conferencing all day because many of the folks they work with are not at the local office anyway.
What we need is one big union.
Hope they don’t like talent. The brain drain continues.
