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Once the passions cool and boards realize they could juice EPS by $0.02/share by closing the offices the debate will be over and those that can will be working
by fnordpiglet 4y ago
Once the passions cool and boards realize they could juice EPS by $0.02/share by closing the offices the debate will be over and those that can will be working from home. All data points to increased or equivalent productivity, and “office culture” is not a fiduciary duty, but maximizing shareholder value is.
- cpeterso 4y agoGood point: to a board that sees everything through a lense of shareholder value, cost savings from closing an office are quantifiable but "increased productivity and innovation" from RTO is not.
- fnordpiglet 4y agoMore importantly boards have a legal obligation to see everything through shareholder value. The fact is there’s plenty of evidence of increased productivity and innovation from letting workers work the way they work best. What’s at issue is senior executives want everyone to value the things that brought them their own success, some nebulous idea of “office culture” and “hustle” and whatever other malarkey that boils down to “work the way I like not the way you like because I’m in charge.” RTO has nothing to do with profit, value, productivity, or any of that. It’s an ideological issue, and boards don’t work on behalf of ideology. In fact in many ways their purpose is to control for ideology interfering with profit and shareholder value creation.
- AdieuToLogic 4y agoMost managers I have observed do not give this topic that depth of thought. The dominate mindset has been, "if I (the manager) do not see you in a seat when and where I expect, then you are not working." If employees work from home, these types of managers feel emasculated. EDIT: a word
- ikrenji 4y agoelon musk is once again ahead of the crowd - he simply opted to stop paying for the office space