The Future “Hybrid” Office

Tom Barkin

Speech from Federal Reserve Bank of Richmond

Abstract: As the COVID-19 vaccine rolls out across the United States, it finally seems timely to think about the economy getting back to “normal.” But what will normal be in an office environment? The answer doesn’t just matter for individuals and companies—it has implications for our future labor force. Many workers who have been able to do their jobs from home feel they have been every bit as productive as they were in the office, with the added bonus of reduced commuting costs and less time away from family. (Many people, of course, have not been so fortunate as to work from home, as I discussed in an essay last spring.) At the same time, employers (and employees) may feel that remote work limits their ability to build culture, provide real-time mentoring, and foster innovation. Those of us who love our “work families” miss those connections and don’t want that social fabric to fray.

Keywords: employment and labor markets; production and investment (search for similar items in EconPapers)
Date: 2021-02-01
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