Goldman Sachs' return to work mandate took effect in February. Only half of employees showed up.

David Solomon, the CEO of Goldman Sachs, has insisted that employees return to the office full-time, despite a strong trend toward hybrid work.

Less than half of the 10,000 workers returned to its New York headquarters after it reopened its U.S. offices in February.

In early March, New York City Mayor Eric Adams hosted a town hall meeting for the employees of the bank. Adams told the media that Goldman had just a couple of thousand employees, a far cry from a full return to the office.

It would have signaled serious trouble for Solomon's campaign if attendance dropped as much as it did. The bank's headquarters has seen a recent increase in in-person attendance, which has averaged 70% over the course of a week. At the time, some 8,000 workers trekked into the office at least once a week. When the numbers were higher, the firm did not provide comparable pre-pandemic data.

Goldman's offices are likely to see a growing share of employees return. Solomon believes in-person interactions are essential to the apprenticeship culture. Solomon refers to the company's operating model as the "ecosystem of the firm", which includes hiring 3,000 new college graduates every year and building networks face-to-face. The experience encourages teamwork, which is central to the firm's culture. Solomon thinks that remote work will become the new normal.

The effect of remote and hybrid work on career growth remains to be seen. Goldman's rivals on the Wall Street are against bringing employees back to the office. The working world has changed for the better, and hybrid work is a powerful attraction for top talent, according to others.

The verdict on Solomon's initiative will not be known for months or even years. The winners and thelosers will be revealed by market share, growth and profit.

Goldman Sachs is telling employees to come back to work 5 days a week.