The Blubber

90% of companies say they’ll return to the office by the end of 2024, per CNBC.

A recent report by Deloitte has revealed that top executives within major financial institutions hold such a strong preference for remote work that a significant portion of them would consider resigning if compelled to return to a full five-day office schedule.

Deloitte and Workplace Intelligence jointly conducted a survey in April 2023 involving 700 full-time executives employed in US financial services organizations. The survey aimed to gauge their sentiments regarding work arrangements, encompassing both remote and hybrid work models.

The findings indicated that 66% of executives who engaged in remote work at least part of the week expressed their willingness to resign if they were mandated to return to the office on a full-time basis. Additionally, more than half of the surveyed executives conveyed a sense of pressure to increase their in-office presence.

Approximately 62% of respondents conveyed a preference for remote work on a more frequent basis, but they harbored concerns about potential negative impacts on their professional trajectories. Slightly over 50% believed that remote work might hinder their ability to engage in socialization and networking opportunities.

The participants perceived that colleagues who predominantly work in the office experience enhanced career advancement prospects. Among these perceptions, over 50% believed in-office workers earn higher compensation, 63% thought they are more frequently promoted, 55% believed they wield greater decision-making authority, and 65% perceived a higher likelihood for in-office workers to ascend to the role of CEO.

Read more: https://unusualwhales.com/news/two-thirds-of-executives-at-us-financial-services-firms-would-quit-if-they-had-to-return-to-the-office-5-days-a-week