Productivity? Let's look at that another way.

Assume that people in the office are 5% more productive than people at home. Just assume that's true. That matters... to the company.

But if I work from home, I have a 30-second commute. Assume I have a 30-minute commute to work, so an hour a day. That turns an 8-hour day of work into a 9-hour hit on my time. From my perspective, that makes me 12% less productive.

There's a way to work this out equitably. You want me to work in the office? Pay me more. Make WFH vs. RTO part of the terms of employment, and adjust the salary to match. It's worth more to the company? Fine. Pay for it. Not working in the office is worth something to the employee? OK, but you get less money for it.