Two years of working from home after President Biden’s State of The Union Address the statement “It’s time for Americans to get back to work and fill our great downtowns again” this was also followed up with “People working from home can feel safe to begin to return to the office.” After reports of major declines in COVID cases.
Soon after announcements from major corporations such as NBC Universal, Google, Apple, and Microsoft that their employees will return to the office. Though executives are excited about returning to the before COVID times. Employees are arriving with mixed views, many with families who finally achieved the work-life balance they were missing have no desire to return to the office on a full-time basis.
The Executive-Employee Disconnect
CNBC reported a survey performed by The Future Forum in October 2021, it was founded that only 17% of employees would like to return back to the office on a full-time basis while 44% of executives would have a full-time working office environment. CNBC has contributed to this as lifestyle differences between the two groups. Executives have different options when it comes to work-life balance such as private offices and the flexibility to work from home on days if needed, the issues with childcare.
Market Watch has reported that childcare costs have risen past the costs of college tuition in many cases. Since 1990 childcare costs have risen 214% while average family income has only increased by 143%. Having the ability to work from home helped or eliminated the cost of chilTweet
This is also coupled with the highest inflations rates we have seen in 40 years to 7.9% in February in all aspects, including groceries, housing, and gas prices. Gas prices this past week have reached record highs since the financial crisis of 2008 already squeezing families’ budgets even tighter and adding yet an extra cost.
With the demands of returning to the office now, how would this affect the American household with wages only expected to rise 3.4% which will not offset the cost of inflation? As pay was cited as the main reason for The Great Resignation time will tell if employees will in fact return to the office.