Companies That Allow Remote Work Grow 1.7X Faster, New Data Shows

"While many big companies now demand that their workers return to the office full time, a substantial number of employees are ignoring these orders. Meanwhile, smaller firms remain committed to remote work - 67 percent are fully flexible, meaning employees can work remotely as much as they choose, and 83 percent offer some flexibility. And small companies benefiting from bucking the back-to-office trend. Flexible companies grow 1.7X faster than those who demand butts in chairs, the report also found."

"It's not news that employees are pushing back against return-to-office orders. Cell phone and traffic usage and other data sources analyzed by Stanford economist and remote work expert Nick Bloom, have shown that while RTO mandates are up, actual attendance isn't. However much CEOs may shout about the need for "everyone to be together," most companies operate a hybrid model in practice. And that isn't changing."

KPMG surveyed 1,325 CEOs and 80 percent predicted remote work would be dead within three years. Many large companies now require full-time office returns, yet a substantial number of employees ignore those orders. Sixty-seven percent of small firms are fully flexible and 83 percent offer some flexibility. Flexible companies grow 1.7X faster than those that demand full office attendance; after adjusting for industry and size they grow 1.3X faster annually. Stanford economist Nick Bloom's analysis of cell phone, traffic and other data finds RTO mandates have risen while actual attendance has stayed flat. Half of the increase in in-office mandates comes from government jobs.

Read at Inc