this post was submitted on 23 Aug 2023
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It's not about improving productivity, increasing innovation or 'sharing best practice', as a former workplace put it. Corporations are forcing a return to office work in an attempt to curb a post-COVID real estate crash - which we honestly need since we have far too many luxury offices being built and not enough homes.
For one place where I used to work, RTO drove down staff morale to an all-time low (already low due to high workloads and bad wages) and pushed the staff turnover rate in my department to 95%. They ended up having to outsource the function to an overseas firm.
Why would companies that generally avoid owning real estate act against its own self interest for the profits of real estate companies?? I don’t see the connection.
Lots of companies and executives invest in real estate. They see their holdings dwindling and decide its time for the unwashed masses to get their asses back in the office
there might be exceptions. but as a rule tech companies AVOID investing in real estate.