As U.S. states and the federal government start to roll back Covid-19 restrictions, and companies and workers start to firm up their office return plans, one point is becoming clear: The future of working from home (WFH) is hybrid. In research with my colleagues Jose Maria Barrero and Steven J. Davis, as well as discussions with hundreds of managers across different industries, I’m finding that about 70% of firms, from tiny companies to massive multinationals like Google, Citi, and HSBC, plan to move to some form of hybrid working.