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Mostly because the power dynamic is still in favour of the employee, because hiring new people is hard and expensive right now. But as soon as this balance tips the other way, managers will force misinformed and ill thought out policies surrounding workplace attendance upon their employees. Facts don't matter when it's about ideology.

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Demographics - especially in Germany - don't support that balance tipping the other way.

Especially importing educated immigrants is less possible than it was say 20 years ago.

Even currently managers are doing exactly this. E.g. SAP is in the process of bringing employees back to office for at least 3 days a week. Reasons given were nonsensical. And probably it will just work out as they want because not enough people vote with their feet.

Well, it depends. In the companies I worked for, RTO didn't mean that everyone instantly quit, what happened is that people started looking for new jobs and usually those who got an offer and quit were one of the most valuable (in terms of knowledge, skill, and experience).

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