The outbreak of the Covid-19 pandemic catapulted vast swathes of the workforce into home offices virtually overnight. That was five years ago. Back then, it felt like a permanent shift – „The office is dead“, many proclaimed. But that narrative is starting to show cracks. The assumption that working from home would become a permanent fixture of office life – at least for a few days a week – is no longer a given. Quite the opposite: the call to return is getting louder.

Major US corporations are now hitting reverse on flexibility. Case in point: BlackRock. The world’s largest asset manager already called employees back into the office four days a week in 2023. Now, CEO Larry Fink is doubling down – at least for senior management, who are expected to show up at their desks daily. His concern: even the strongest corporate culture can fade after years in sweatpants. J.P. Morgan made a similar move some time ago, summoning its top executives back to their desks. The notion that „culture requires presence“ is once again gaining traction – at least in the US financial sector.

But is this the beginning of the end for the remote work utopia? Will all companies follow suit, no matter that a tight labour market favours employees? Unlikely. Mandating office attendance comes at a cost – and not just in rent or morale. Only companies with a certain level of prestige – offering generous salaries, glittering career prospects, and a long line of highly qualified applicants – can afford to turn their backs on remote work. At BlackRock, if you don’t comply, you’re replaced. It’s that simple.

Other big names – online giant Amazon, Europe’s largest software company SAP, Deutsche Telekom, and Deutsche Bank – are also turning back the clock. But these players all operate in the same elite league: powerful, prominent, and hard to ignore. Companies outside this corporate Champions League will find it harder to follow suit.

So here’s the question: will an employer’s „cool factor“ soon be measured by how few mandatory office days they require? Perhaps. My advice: if your employer promises you can work half the year from the Maldives, it might be wise to start saving up for your flight home. What once seemed like every employee’s dream may soon become tomorrow’s red flag.