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Employers begin to miss offices

Four months ago, employees at many U.S. companies went home and did something incredible: They got their work done, seemingly without missing a beat. Executives were amazed at how well their workers performed remotely, even while juggling child care and the distractions of home, WSJ reported.

  • Offices exist for a reason: Now, as the work-from-home experiment stretches on, some cracks are starting to emerge. Projects take longer. Training is tougher. Hiring and integrating new employees, more complicated. Some employers say their workers appear less connected and bosses fear that younger professionals aren’t developing at the same rate as they would in offices, sitting next to colleagues and absorbing how they do their jobs.
  • Why it matters: Months into a pandemic that rapidly reshaped how companies operate, an increasing number of executives now say that remote work, while necessary for safety much of this year, is not their preferred long-term solution once the coronavirus crisis passes.
  • Length of leases prevent rash decisions: The majority of U.S. office leases are eight years or longer, according to Moody’s. In an early July report, the credit-rating agency noted that they didn’t expect an exodus from offices, despite popular claims that offices were now dead. More companies now envision a hybrid future, with more time spent working remote, yet with opportunities to regularly convene teams. [WSJ]

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