Most mid-market CEOs favor working remotely.
That’s according to the latest Marcum-Hofstra Mid-Market CEO Survey, which was conducted in June.
The survey found that 48% of CEOs work in the office five days a week, while about 10 percent continue to work entirely from home. And 32% are back in the office three days each week or less.
The periodic survey the leaders of companies with revenues that range from $5 million to $1 billion-plus. The most recent survey interviewed 254 mid-market CEOs.
The findings, reported on Wednesday, come at a time when many employers increasingly seek to bring employees back to the office. Yet the survey revealed that CEOs of mid-market firms are embracing a trend toward permanent remote work, especially when it comprises a hybrid schedule.
The study found that 77% offer employees a part-time remote option, with 66% planning to continue that protocol into the 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 Hofstra University’s Frank G. Zarb School of Business.
“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,” Viswanathan added.
“It is clear that the full-time, office-based work model has become a thing of the past and that CEOs as a whole are reimagining how their workforces should be structured,” Jeffrey Weiner, Marcum’s chairman and CEO said, in a statement.
CEOs said they liked the convenience of remote work, and the ability to cut down on gas expenditures. They also liked that this model offers more family time and that it boosted productivity.