- Recession, hiring freeze may cause employees to quit working at home and return to the office
- Companies are trying to strike the right balance with hybrid work model
Tesla CEO Elon Musk wants employees to return to office as soon as possible. On Tuesday (May 31 2022), he sent an email to his employees informing them that remote working is no longer permitted in the organization.
Employees who do not wish to return to the workplace can quit, according to the billionaire. “Anyone who wishes to do remote work must be in the office for a minimum of 40 hours per week or depart Tesla. This is less than we ask of factory workers,” Musk said in a leaked email that has since spread on Twitter.
Based on Bloomberg reporting, many bosses have wished for some sort of leverage to entice more employees to return to the workplace. Worries about the recession, a series of employment restrictions, and a scathing retort from the world’s richest person like Elon Musk may have just made matters worse.
For more than two years of pandemic, millions of white-collar workers at companies ranging from Apple Inc to American Express Co have grown accustomed to greater flexibility in where and when they work. The heated labor market has given them the power to argue against management’s decision to return to the office.
However, recent recessionary concerns have overshadowed the prospects of many companies, prompting some to cut back on hiring or staffing, which has led to renewed criticism of remote work.
Decision making in new hybrid working era
According to a new survey by insurance company Nationwide, half of all entrepreneurs expect to continue to work in an office for the next year. This underscores the fact that management around the world is still worried about the new era of hybrid work.
According to the senior vice president of Challenger, Gray & Christmas, an employment agency and executive coaching firm, there was some balance of power during the epidemic, “but we are starting to see the beginnings of layoffs. The requirement to work in an office can certainly be a way for workers to be voluntarily cut. Even if the recession doesn’t happen, employers could start making similar demands as Musk did.
But according to recent employment data, hiring continued normally in May, with no signs of slowing hiring among giant employers like IBM. Even in April, for every unemployed person, there were still close to two job opportunities. So many companies are opting out of the onerous back-to-work requirement in order to retain talent, while others like Apple, which has been pushing back-to-work itself, have relaxed the policy in recent weeks.
Wall Street bosses have also reduced their demands for reentry: Jamie Dimon, CEO of JPMorgan Chase & Co, said 40 percent of his staff will work in a hybrid model in the future, and Credit Suisse Group AG CEO Thomas Gottstein, said recently that the bank will never return to full-time office work.
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