The ongoing debate about remote work, hybrid work models, and traditional in-person work remains a prominent topic worldwide, as companies and employees strive to find the most effective work arrangements for everyone involved.

A recent survey released by KPMG this week, titled the CEO Outlook Survey, offers insights into the views of top executives from major corporations regarding the corporate landscape, including the discussion surrounding a return to the office. According to the report, the majority of global CEOs (64%) believe that a complete return to in-person work will be the norm for all companies within the next three years.

In cities like São Paulo, Rio de Janeiro, Mexico City (CDMX), Bogotá, and others tracked by the SiiLA platform, the demand for office space is still a long way from what it was before the pandemic. In Brazil, since mid-2020, the vacancy rate has been on the rise in most of the cities covered by the platform, with companies returning office space. In Mexico and Colombia, SiiLA data indicates that the vacancy rate has slowly been declining since the start of 2022, but it still remains higher than pre-pandemic levels.

According to KPMG report, a significant 87% of surveyed executives are willing to reward employees who show a willingness to return to the office. These rewards include salary increases, promotions, and more significant roles and responsibilities.

One of the challenges in this process lies in the success of the hybrid work model. Employees often find this model increases their productivity and enhances their overall quality of life by allowing them to combine in-person work with remote workdays.

KPMG's research involved surveying 1,300 CEOs from various companies around the world and took place between August and September 2023.