Office mandates don’t help companies make more money, study finds::Three years after the coronavirus pandemic sent people to work from home in record numbers, U.S. employers are still struggling to get people back to the office.
Office mandates don’t help companies make more money, study finds::Three years after the coronavirus pandemic sent people to work from home in record numbers, U.S. employers are still struggling to get people back to the office.
I don’t know how this property values thing just became accepted knowledge, but it’s nonsense. Most companies don’t own their own office space, and for the ones that do, it’s a cost centre they’d prefer not to have on the books.
I’ve also seen absolutely no evidence that this is a factor in their decisions, and you’d expect at least one CEO to let the truth slip if this was the case.
And yet people keep parroting it.
Commercial leases are not always a 1 year lease though, like an apartment. They could be in a 10 year lease so I think it’s still valid a lot of times. Obviously there are also additional factors but some companies are still stuck paying for a building they can’t use.
Sunk cost fallacy. This is not difficult to grasp. The money is gone regardless of whether people are in the building.