It could soon be time to tidy up your home office and start commuting again, with 65% of multinational CEOs saying they want workers back in 9-to-5 cubicles by 2025.
That’s the opinion of the majority of the 1,325 global business leaders surveyed as part of KPMG’s 2022 CEO Outlook Audit on their “planning mindset, strategies and tactics.”
While they’ve reaped the rewards of a geographically unlimited hiring pool, better collaboration, and improved productivity, CEOs largely want staff back in the office. Thus, Elon Musk is not the only one to demand that Tesla employees be in the office 40 hours a week.
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Only 28% of CEOs said they would prefer hybrid over the next three years, while just 7% said they would like an all-remote arrangement.
A third of KPMG respondents are CEOs of companies with more than $10 billion in annual revenue, headquartered in Australia, Canada, China, France, Germany, India, Italy , Japan, Spain, United Kingdom and United States.
Additionally, 86% of CEOs predict a recession in the next 12 months and 46% plan to downsize in the next six months, while 75% have already started or expect a hiring freeze in the next 12 months. of the next six months.
Given this outlook, the balance of power could tip in favor of employers who have weathered a tight labor market for all workers since the pandemic, not just those in high tech. KPMG notes that while employers have more bargaining power, CEOs need to ensure their employees have “meaningful interactions” in the office.
“How do CEOs define what an optimal structure looks like? Now is the time to experiment and see what works best. Active listening, empathetic communications and a commitment to finding the right long-term balance will be essential “, said KPMG.
“Employee expectations of remote work are changing, so it’s important for CEOs to develop a better work structure that suits their employees in what is still an emerging area,” he warned.
Microsoft, which is making Office software more hybrid, has found that many business leaders suffer from the “productivity paranoia” of hybrid working. Its recent poll of 20,000 people in 11 countries found that 85% of business leaders suspect remote workers are slipping away, while 87% of workers believe they are just as effective at home. Microsoft CEO Satya Nadella says employers need to overcome productivity paranoia.
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It’s unclear what the standard of work will be in a world facing stagflation for the first time in 50 years. Currently, job postings for hybrid work are on the rise, according to GlobalData, but LinkedIn’s hybrid job postings have declined over the past few months.
A recent survey in the UK found that more than half of technology managers plan to ask their staff to work more from the office in the next year. In contrast, another survey of tech workers in the US and London found that 67% would quit their job if a boss refused a pay rise, while 30% said they would quit if a boss told them to. asked to return to the office. Still, just 6.5% of the U.S. workforce telecommuted in August, down from 7.1% in July, according to the U.S. Bureau of Labor Statistics.
Via MarketWatch, 60% of 3,000 managers surveyed by beautiful.ai said remote workers were likely to be laid off first.
KPMG found that 77% of CEOs view information security as a strategic function and a potential competitive advantage. Some 73% of CEOs said geopolitical uncertainty had increased concerns about cyberattacks, up from 61% in 2021, while 76% said protecting partners and their supply chain was as important as building of their own defences.
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