Ars Technica: “Despite the risks, firms and Trump are eager to get people back into offices. Return-to-Office (RTO) mandates have caused companies to lose some of their best workers, a study tracking over 3 million workers at 54 “high-tech and financial” firms at the S&P 500 index has found. These companies also have greater challenges finding new talent, the report concluded. The paper, Return-to-Office Mandates and Brain Drain [PDF], comes from researchers from the University of Pittsburgh, as well as Baylor University, The Chinese University of Hong Kong, and Cheung Kong Graduate School of Business. The study, which was published in November, spotted this month by human resources (HR) publication HR Dive, and cites Ars Technica reporting, was conducted by collecting information on RTO announcements and sourcing data from LinkedIn. The researchers said they only examined companies with data available for at least two quarters before and after they issued RTO mandates. The researchers explained:
To collect employee turnover data, we follow prior literature … and obtain the employment history information of over 3 million employees of the 54 RTO firms from Revelio Labs, a leading data provider that extracts information from employee LinkedIn profiles. We manually identify employees who left a firm during each period, then calculate the firm’s turnover rate by dividing the number of departing employees by the total employee headcount at the beginning of the period. We also obtain information about employees’ gender, seniority, and the number of skills listed on their individual LinkedIn profiles, which serves as a proxy for employees’ skill level…”
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