The traditional corporate office is expected to be back in full force in about three years, according to a new KPMG report, as 79% of CEOs in the U.S. believe employees “whose roles were traditionally based in-office” will be working again in-person five days a week by 2027.
That’s up dramatically from 34% who said the same in the Big Four accounting firm’s U.S. CEO Outlook Pulse Survey earlier this year.
According to the most recent 2024 KPMG CEO Outlook report, which features insights from more than 1,300 CEOs at large companies globally, including 400 in the U.S., 86% say they will reward employees who make an effort to come into the office with favorable assignments, raises, or promotions.
“CEOs increasingly favor a comprehensive return-to-office but the need for flexibility still holds,” said KPMG U.S. Chair and CEO Paul Knopp said in a statement.
The results come as Amazon announced recently that its employees are expected to work in the office five days a week starting Jan. 2, 2025.
KPMG also found that 89% of CEOs also see an aging workforce “impacting their organization’s employee recruitment, retention, and overall culture.” In addition, 80% believe organizations should invest in skills development and lifelong learning in communities to safeguard access to future talent.
When asked about the most likely impact of GenAI on their organization, 72% of CEOs said it won’t fundamentally impact the number of jobs but will require upskilling and existing resources to be redeployed, while 27% said it will create more jobs than it eliminates.
Knopp said the results showed that “CEOs’ primary focus remains anticipating and staying ahead of the compounding and interrelated risks.”
“CEOs are strategically allocating capital to address cyber and geopolitical risks that can cause abrupt business disruption in the short term, while making long-term investments in GenAI and M&A to spur future growth,” he added.
With Tribune News Wire Services
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
Tags: Accounting, Firm Management, Payroll, Staffing
