> I would guess having employees that feel valued […] would be what is best for the business, no?

It depends. I think what's best for a business is having employees who want to win and want the business to win, as a primary goal.

It's not really easy to make an adult feel valued because individuals have very different motivations and personalities, so good feelings as a goal is a shifting target.

Of course, if it were easy to answer the question, probably the Harvard Business Review would be a single article and not many decades of publication, and the debate about WFH wouldn't even exist because everyone would feel valued already and the problem would be moot.