Try to do that as a business and you'll quickly go out of business.
The inefficiency which is intrinsic in large hierarchical companies means you have to pay employees by hours worked, not by projects being delivered.
So you just assume some level of inefficiency and pay roughly accordingly to the output you can get. You can try to improve things a bit with some blabbing, some politics, writing a "mission", some perks, some beers - but you'll work within certain limits.
Peers or managers will keep themselves accountable for staying at least ~6-8 hours in the workplace - and, no matter how much they slack, it will be hard to get zero work done.
If people are at home, there will be a few individuals overworking but most people will just spend less time in work-mode. Measuring productivity is an errand's fool so any proof in this direction is as good as random data in my eyes.
Personally, I've seen productivity decline with remote and looking at my friends' instagram, I can see them working less (when they don't have a side hustle).
That said, I'm all for remote. It's just another perk to get better people: they get their life back, they'll work a bit less but at least you can get the best people.
Before COVID, I was already working in a remote only team and the quality of the people was astounding. Things were getting done even if people were spending half a day skiing, simply because a couple of hours of someone who is GOOD can help way more than 8 hours of mediocre people (which is often harmful).
After COVID, working with remote people has been crap, for the chronicles.