Although different studies investigated the SW phenomenon during last years and its evolution during the pandemic, reporting several benefits and advantages, there seems to be a lack of studies investigating whether and to what extent the SW can really impact on company’s performance. It is not clear to what extent smart working, especially in the emergence phase, has impacted the organizations, at macrostructure level and at the micro structure level, and whether the SW may be considered as a leverage to achieve new, incremental productivity, both at “people” and “process” level. This paper develops a conceptual framework, built on a series of testable propositions about the impact of SW on the organizations and the characteristics of SW as leverage to improve productivity. Then, a questionnaire to empirically test our theoretical framework is presented. Each construct of the model corresponds a set of questions.