Moreover, this line of reasoning completely ignores the influence of employee satisfaction on productivity. They had something they valued a lot, now you take it away. I witnessed it several times and every time CEOs did that, productivity plummeted significantly and people were starting to take photos for LinkedIn.
So we have WFH at scale for 3 years balanced against in-office work that has decades and decades of successful history behind. Also consider that the global catalyst that drove WFH at scale is now no longer a factor.
So when presented with a choice of what’s comfortable vs uncomfortable, people will opt for the comfortable unless forced to the uncomfortable. What’s happening now is simply a restoration to a comfortable business state…from the executives POV because there is no longer a pandemic forcing them to be operating in an uncomfortable business state.