Ordered back to office, top tech talent left instead, study finds
In months following #returntooffice mandates, an increased number of senior employees departed Apple, Microsoft and SpaceX, often to work for competitors.
"Our findings suggest that #RTO mandates cost the company more than previously thought," said David Van Dijcke, Univ of Michigan researcher on the study. "These attrition rates aren't just something that can be managed away." https://www.washingtonpost.com/business/2024/05/12/rto-microsoft-apple-spacex/ https://archive.ph/RGar1
The slowly deflating #CommercialRealEstate bubble continues. People are just not that interested to go back to the office.
This building in a suburban #SanJose office park was occupied by Nio, the Chinese carmaker, who did not renew their lease in October 2023. Without a new tenant, the building went into foreclosure with $25M of outstanding debt.
"Return-to-office mandates at some of the most powerful #tech companies — #Apple, #Microsoft and #SpaceX — were followed by a spike in departures among the most senior, tough-to-replace talent...
“We find experienced #employees impacted by these policies at major #tech companies seek #work elsewhere, taking some of the most valuable human capital investments and tools of #productivity with them,” said... one of the study’s authors.