Less than Half of CEOs Are Back to the Office Full-Time; CEO Economic Outlook Plummets

Staff Report

Wednesday, July 6th, 2022

Less than half of mid-market CEOs have returned to the office full-time and about a quarter plan to work a hybrid schedule indefinitely, according to the latest CEO survey from Marcum LLP and Hofstra University's Frank G. Zarb School of Business.

The survey, conducted in mid-June, found that 48% of CEOs reported working in the office five days-a-week, while about 10 percent continue to work entirely from home. About a third – 32 percent – are back in the office three days each week or less.

Even as many employers increasingly seek to bring employees back to the office, the Marcum-Hofstra survey shows that the trend toward permanent remote work, particularly hybrid schedules, is being embraced by mid-market CEOs. For example, 77 percent of mid-market CEOs provide their employees a part-time remote option, and two-thirds expect that to continue for the foreseeable future.

While some CEOs cited COVID-19 concerns, many more said they prefer a hybrid schedule because they believe it increases productivity, while reducing commuting time and costs and providing better work-life balance.

"Whether it is COVID concerns or the impact of inflation and gas prices, it seems clear that remote work, and a hybrid schedule in particular, is the sweet spot for many CEOs and businesses," said K.G. Viswanathan, interim dean of the Zarb School. "The specific reasons may change over time, but I believe this reflects a fundamental change in how Americans view work in the broader context of their lives."