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How Tech Companies Are Trying To Help Reverse the Remote Work Trend

Employees At Home

Flashing back to March of 2020, tech companies were focused on helping companies make remote work possible. Health, safety, and telecommunications were the focus. For example, Heineken NV (HEINY) ensured workers maintained social distancing and kept tabs on occupancy levels through HqO’s office app.

More recently, those same tech firms are working to reverse the work-from-home trend. Apps and gathered data are being used to try to make for a more fun, safe, and efficient workplace. Other companies are using their technical prowess to ensure offices are better suited for hybrid work schedules in consideration of design, food, air quality, and conference rooms.

WeWork Wades In

Among the prominent names focused on workplace software is WeWork (WE), which has had a rocky past few years. Its main function is the ability to secure short-term leases for shared office space. Following the company’s failed 2019 IPO, the firm has shedded leases and instead focused on workplace software.

WeWork executives hope their app will help convince workers to return to offices. It empowers employees to post company announcements, reserve space in the conference room, and even register for yoga classes. Some industry experts estimate the growing office-software business is in the billions of dollars, meaning it could provide a long-term path to success for WeWork and other companies.

Labor Landscape Has Shifted

Broadly speaking, companies of all shapes and sizes are confronting the same reality: workers are going to the office less often. Analysts say that’s opened up a series of new challenges and concerns that the tech sector can help solve.

Cisco (CSCO) is one such tech company. It offers background noise canceling software for conference calls and a space-management tool that tracks how office space is used. Honeywell (HON) has a similar product called People Counting, which analyzes security camera footage to keep a real-time log of who is in office. The tech world helped workers go remote, now they’re hoping to lead a grand return.

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James Flippin ABOUT James Flippin James Flippin is the son of a financial advisor who grew up hearing and learning about bond yields, interest rates, the stock market, and the ins and outs of Wall Street. After stints as a licensing and business broker for Marcus and Millichap in New York City, James moved into broadcasting and became a reporter and anchor. He covered crime, politics, finance, and tech at NBC News Radio while working part-time as a producer for SiriusXM. James graduated from the University of Delaware with a bachelor’s degree in political science and economics. He's also an accomplished podcaster with over 10-years of experience.

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