This podcast episode discusses the challenges and dynamics of remote work, focusing on fully remote settings and hybrid work. The evidence suggests that working from home can have a negative impact on productivity due to communication and collaboration frictions. However, firms can offset these costs through savings in floor space. On the other hand, hybrid work offers benefits in terms of job satisfaction and attrition rates, but it requires careful coordination to ensure effective collaboration and in-person interactions. Overall, the episode highlights the need for deliberate strategies to optimize the advantages of hybrid work.
Takeaways
• Working from home in fully remote settings can lead to difficulties in quick feedback and creative idea generation, resulting in a drop in productivity.
• Firms can offset the productivity costs of fully remote work through savings in floor space costs.
• Hybrid work, where employees have the flexibility to work from home and the office, is the dominant form of remote work.
• Hybrid work offers benefits in terms of job satisfaction and attrition rates.
• Designing and managing a hybrid workforce in a coordinated manner is crucial to facilitate in-person interactions and build rapport among colleagues.
• Allowing employees to choose their own days to work in the office may result in a lack of coordination and hinder effective collaboration.
