I was working in a company, where 4 days HO per week were allowed. We created a fully collocated team. Surprice, it was more than 50% more productive. After this experiment, the HO was cancelled and overall company performance has boosted.
Technically I think it is possible to create such an arrangement where people will be similarly productive at HO as onsite. It will require some training and retraining for people, some tooling and technology, some HO arrangements etc. Most companies I saw do not have this, they just let people stay home. I think HO arrangement is most difficult to achieve. Apartments in an apartments blocks are not designed with extra room for homeoffice. There is no appropriate ventilation, aircon, lighting, heating, or noise control. Many of those can’t be fixed because apartment blocks were not designed for HO. I live in a block with 210 apartments, which means almost every day somewhere is ongoing renovation, with drilling and noise all the day. Guess the impact on productivity.