Survey

CEOs grapple with the concept of remote work

The COVID-19 pandemic has ended, but will remote work endure? Top executives from major companies globally appear to have a different perspective. According to a survey, most CEOs anticipate their employees returning to full-time office work in the next three years.

CEOs grapple with the concept of remote work

According to a global survey, CEOs worldwide are hesitant about the idea of their employees working from home permanently. Out of 1,325 CEOs of large companies, 64% believe their employees will return to full-time office work within the next three years, as indicated in the "CEO Outlook" by KPMG. In Germany, the percentage is 68%. The survey, conducted in August and September, targeted CEOs from 11 countries and 11 industries, each with at least $500 million in annual revenue.

Despite the pandemic, the hybrid work model, where employees split their work between home and the office, has become prevalent. In Germany, over 80% of companies in the private and public sectors have established corresponding agreements. These agreements outline the conditions for the hybrid work model, as revealed by a study from the Fraunhofer Institute for Industrial Engineering IAO at the end of July.

Incentives necessary

Nevertheless, according to the KPMG survey, only one in four CEOs globally believes this system will be long-lasting. Only 3% of CEOs support the idea of a long-term and exclusive home office setup.

Most respondents seem aware that incentives are necessary to encourage more in-person work. Globally, 87% of CEOs can consider promoting or offering higher salaries to employees who come to the office more frequently.

In Germany, however, a slightly smaller proportion agrees, with the figure standing at 77%.

Despite the challenging geopolitical and economic situation, local business leaders assess their profit prospects positively. As stated in the survey, more than half of the companies expect annual revenue growth of 2.5% or more within the next three years. Additionally, 84% anticipate growth in their company's workforce during the same period.