European Central Bank extends WFH policy for 2 more years: reports

Carlos Bowles, chair of the ECB staff committee, welcomed the decision, saying WFH helps work obligations more easily compatible with private constraints. 

"It is also an essential element to attract and retain a future-oriented workforce, while further building the institution’s resilience," Bowles told Bloomberg. 

The policy's extension comes as the ECB noted that 95% of its employees worked remotely last year for an average of 57 days, Reuters reported. 

Opposing office-return wave 

ECB's WFH policy extension stands out in the growing wave of organisations that are introducing office-return policies to their workforce. 

Other organisations that remain firm on their remote work policies include: 

• Atlassian.  The company is implementing a work-from-anywhere policy where it has a legal entity, and as long as they have working rights to live there and the timezone is compatible for their role. 
• Airbnb. It also maintains a Live and Work Anywhere policy, though employees are asked to come to the San Francisco office one week a month, Entrepreneur reported. 
• Pinterest. The company also has a "PinFlex" policy that promotes flexibility, where employees are encouraged to work where they choose within their country or region. 
• Spotify. The company implements a Work From Anywhere programme, where employees can choose where they can work, such as at home, at the office, or somewhere else for as long as Spotify has an entity. 
• HubSpot. The company offers employees a work option among those that work best for them, such as @home, @office, or @flex. 

Data quoted by DemandSage late last year revealed that 16% of companies globally are fully remote, while 63% offer hybrid work options. 

It found that 19.5% of employees worldwide are working remotely, but demand for the work arrangement is expected to increase by 30% by 2030, as 98% of employees prefer to work remotely. 

Benefits of working from home 

The demand for remote work comes as employees pursue work-life balance and coverage for commuting costs amid the rising costs of living. 

But the benefits of working from home are not limited to employees. Centuro Global outlined last year major benefits of WFH for businesses. They are: 

• Enhanced productivity and performance 
• Financial benefits, such as cost reduction in office space 
• Broader talent pool and diversity 

"The benefits of remote work are multifaceted," Centuro Global said on LinkedIn. "From increased productivity and employee satisfaction and retention to the implementation of sustainable business practices, remote work has reshaped the working environment and will continue to modernise today's workplace."