Another week, another ‘Wave’ ???

5 news items from the world of work and workplace that you can digest in 5 minutes.

This week:

1. San Fran facing its highest office vacancy rate in 30 years
2. Only 5% of CEOs list return-to-office as a 2023 priority
3. Workplace of 2023: Mental health will be front and center

Empty City: San Fran is facing its highest office vacancy rate in 30 years, reports CNBC . With vacancy rates skyrocketing from 4% pre-pandemic, to over 26% today, one local legislator is pushing to convert empty offices into residential buildings, to help address the growing lack of affordable housing. Matt Haney , a Democratic state Assembly member, said: “What we can’t do is just leave these buildings empty. That would be bad for our city’s downtown. It would be a total waste. There are some obvious things that we can look at, where we can meet some of the other needs that we have and actually solve another problem that we have, and that’s our housing crisis.”?Read Full Article.

WFH Forever: Only 5% of CEOs in the U.S., and 2% in Europe, listed a return to in-person work as a priority in 2023, reports Yahoo . Instead, decision makers want to focus on other employee-related initiatives like strengthening internal culture. The survey results are released as 星巴克 CEO Howard Schultz and 华特迪士尼公司 CEO Bob Iger tell employees they must head back to the office. Will many more do the same in 2023? Read Full Article.

The Year of Mental Health: ‘Mental health will be front and center’ in the workplace of 2023. With rates of burnout, anxiety and depression at record levels, companies will be forced to rethink how they can create a supportive work environment. “Employees want to work in a place that cares about both their productivity and their emotional well-being,” said Williamsburg Therapy Group CEO & Psychologist Dr. Daniel Selling. Mental health companies will help make it easy for employers to provide quality mental health care to their employees by providing guaranteed appointments and access to doctoral-level psychologists. This benefits companies as well. “A happier, less stressed, and less anxious workforce is a more productive workforce—employee retention and satisfaction increase dramatically.” Read Full Article.

Unlimited Time Off: Last week 微软 became the latest company to give all its salaried U.S. employees unlimited time off, under its new “Discretionary Time Off” policy. Some experts feel that while such policies could boost morale and engagement, they also come with the risk of pushing employees to take fewer vacation days amid fears that employers might perceive them as not valuing work enough. Dr. Rachael N. Pettigrew [PhD] , Assistant Professor at Bissett School of Business says “It’s problematic to put the onus on the employee”, or is it empowering employees to make their own decisions? Read Full Article.

Talent Wars: A new study shows SMEs are leading the hybrid work revolution to win the talent wars, reports Medium . Despite economic and labor challenges, 60% of SME CEOs are planning to increase headcount in the year ahead, with only 7% planning on reducing headcount. Vistage Worldwide, Inc. Chief Research Officer, Joe Galvin says this is a significant shift from the trend of big companies making headlines with layoffs, as SME CEOs are reluctant to lay off their hard-won new employees. Hybrid work offers a way for SMEs to access a wider pool of talent and a more diverse workforce. Consistent with prior quarters, 60% of SME CEOs are offering hybrid and remote work options in order to attract and retain top talent.?Read Full Article.