Stanford economist says forcing people back to the office full time is a costly mistake: ‘They want to learn, they want to socialize—they just don't want to go in five days a week' [Fortun...
Goldman Sachs Group, Inc. (The) (GS)
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Source: Fortune
That's according to the so-called “guru” of the matter, Stanford economist Nick Bloom . Bloom recently appeared on New York Magazine's “Pivot” podcast , hosted by journalist Kara Swisher and NYU professor Scott Galloway, as part of a four-part series dedicated to the future of work. Remote work, just one or two days a week, has won the battle, Bloom says, simply because it's profitable for companies . “I mean, that is the bottom line,” Bloom told Swisher and Galloway. “We live in a capitalist economy.” It's profitable, firstly, because it has been proven it doesn't impact performance , and actually greatly reduces employee turnover —which is a significantly more expensive phenomenon than giving existing employees annual raises. In fact, it's fully remote set-ups that are the most cost-effective because company leaders don't have to pay for offices at all. Bloom, as ever, is quick to point out the inanity of the idea that everyone has to be in-person just because. “Imagine the b
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Earnings
- 4/15/24 - Beat
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Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- 4/26/24 - Form 485BPOS
- GS's page on the SEC website