PSAC strikers' fight to work from home renews return-to-office debate via financialpost
Whether bosses like it or not, remote work remains popular and is even an expected condition of employment among some office workers, research shows. In a recent, separate, 31 per cent of hybrid workers said they’d come back to the office full time if asked, but they’d also start looking for another job. Another 21 per cent said they’d quit right away. Overall, 51 per cent said they want to work from home more than from the office, and a quarter want to work at home all the time.
Women also continue to show a stronger preference for remote work than men, the survey showed. Part of that could be because 81 per cent of remote workers say their work-life balance is better. Of course, that’s a win not just for employees, but for employers that have been seeking ways to shore up employee mental health amid declining engagement and higher turnover.
Other bank CEOs also have qualms about how remote work is impacting the broader economy. National Bank of Canada chief executive Laurent Ferreira on April 21 said that while he isn’t about to ask employees to come back to the office more often, he is worried about how flexible work is impacting businesses in Montreal. “I’m concerned for downtown Montreal and I think the business community has a very great responsibility the dynamism of Montreal’s ecosystem,” he said.
A decline in office vacancy rates is also cause for concern for many economy watchers. The office vacancy rate in Canada hit 17.7 per cent in the first quarter of 2023, an all-time high, said CBRE Group Inc. High vacancies have implications for businesses that traditionally serve office workers, such as dry cleaners, coffee shops and restaurants.
What seems clear is that the debate over the pros and cons of remote work will rage on until the power shifts back to employers from the hands of employees. Labour shortages make it difficult for many executives to push for a fuller return to the office, with the costs of hiring and training new employees outweighing the drawbacks of allowing remote work to continue. But power shifts are possible, since some economists predict a recession and a weakening labour market.
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