Nicholas Bloom anticipates a ‘working-from-home Nike swoosh’ in the post-pandemic era. This pattern, characterised by a sharp drop, slow recovery, and eventual stabilisation, is set to redefine the global work landscape. The initial plunge represents the drastic shift to remote working during lockdowns, followed by a gradual return to offices as restrictions ease. However, the final phase indicates a lasting change, with 20% of workdays expected to remain remote.
The shift to remote working has been smoother than anticipated, thanks to technological advancements. Despite initial productivity dips, companies have adapted, and employee satisfaction has increased. Yet, the transition hasn’t been without challenges. The blurring of work-life boundaries, mental health concerns, and the potential for career stagnation are notable issues.
The ‘work-from-home swoosh’ will also impact city centres, with reduced demand for office spaces and commuter services. This could lead to a fall in urban rents and a rise in suburban living. Yet, the shift may also offer opportunities for cities to reinvent themselves, focusing more on leisure and less on work.
In the future, firms will need to strike a balance between remote and office work. The optimal mix will likely involve a few days at home each week, allowing for both collaboration and focused work. This hybrid model could be the key to navigating the ‘working-from-home swoosh’ successfully.
Go to source article: https://www.economist.com/by-invitation/2023/08/29/nicholas-bloom-predicts-a-working-from-home-nike-swoosh