New Data | Revenue Growth & Flexibility
Our Q4 Flex Report is live!
Current Subscribers: 3,884; +130 since last week
Please forward to colleagues and friends! Link to subscribe.
Q4 Flex Report
The question many media and C-suite executives have been asking over the last few years is, “are remote workers really productive?” The answer has become a bit of a Rorschach test to see which side of the divide you land on in the flexible work debate.
High-profile CEOs such as JP Morgan’s Jamie Dimon and BlackRock’s Steve Schwarzman cast doubt, while remote employees champion their increased efficiency.
To help settle this debate, we partnered with Boston Consulting Group — a world-class management consulting firm — to analyze the relationship between public company revenue performance and flexibility. If there’s a big difference in productivity between on-site and remote workers, perhaps it will show up in the financials!
This report also explores the latest trends in flexibility in the US by industry, region, company size, and company age.
Want a sneak peek of what’s in the report? Here’s a little preview👇 We’ll also discuss the latest findings in Thursday’s State of Flex webinar.
Flexibility Grows More Prevalent
38% of US companies require Full Time In Office work, down from 39% one quarter ago and 49% at the start of 2023.
Fully Flexible Public Companies Outperform on Revenue Growth
Fully Flexible public companies outperformed their peers by 16 percentage points on 2020-2022 revenue growth on an industry-adjusted basis. Even excluding Tech, Fully Flexible companies outperform by 13 percentage points.
The Return to Office Has Stalled Out
Company policy and office utilization rates are tightly coupled. The average Structured Hybrid company requires employees to be in the office about 50% of the time, and occupancy rates relative to pre-pandemic are about 50%. That’s been consistent since the beginning of 2023 and did not move after Labor Day.
In the Media
The Guardian: Flexible working can reduce someone’s risk of having a heart attack or stroke.
Fortune: Is merit-based flexibility the future of flexible work?
NY Times: Work from home has enabled more women to stay in the workforce than ever before. But does remote work make it harder to get ahead?
One Last Thing…
Add your company to the Flex Index
Become a guest ”Flexpert” contributor
Share this newsletter with friends and colleagues
About Scoop
Scoop offers powerful planning tools that empower hybrid employees to make great decisions on how and where to spend their time at work. For HR and workplace leaders, Scoop provides insights on work location trends, office usage, and additional workplace solutions to get the most out of hybrid work.