Remote Work Vs. Salary — Remote Work Wins

COVID’s impacts on business are still being felt. As things continue to “normalize,” and as we push toward a new year and 2024, those same businesses are still reworking their home and office policies. The goal is to bring more people back into the work-only-at-the-office fold.

Flexjobs is a site that searches for jobs for people wanting to work remotely. It talked to 8,000 workers about what is more important to them. The question: is it working remotely or better salary?

Working remotely won.

The company found that 63% of workers find working remote to be the most important thing in a job. Salary comes second. In fact, 66% said they’d take a cut in pay to be able to work remotely.

Here’s why Toni Frana of Flexjobs says this is important. The Bureau of Labor Statistics says workers are back to quitting their jobs at pre-pandemic rates. With 56% of workers telling Flexjobs that they know someone who has quit for that reason, or know someone who might quit in the future, it might behoove businesses to offer remote work as a perk.

“Because working remotely is seen as such a benefit to so many people, they are spending some time taking stock and thinking about what it is that they want to do next if their current position is mandating to return to office,” she said. “Even as things return to normal, remote work is a thing workers still desire to keep.”

The resume company, ResumeBuilder says 90% of the employers they have spoken with say they are going to ask their workers to return to the office in some sort of capacity in 2024. That — as we just saw — goes against what employees seem to be wanting.

Employers see productivity dropping, thus the often-urgent order to return to the office. Employees see it differently with 77% saying they’re much more productive when working from home.

“There are distractions both at the home and office, but distractions are possibly easier to manage at home where you can use tools like ‘Do Not Disturb’ on Slack,” Frana pointed out. ”You can’t really do that when someone is at your door or cubicle.”

Frana says find it easier to have a more structured day — and one that fits them — when they don’t have to commute to the office. So instead of an often 8-to-6 day for a 9-to-5 job, they’re free to fit the hours around their personal needs.

“So many people have had the opportunity to work from home over the last few years, and they realize they can exceed goals even while their team is remote,” Frana noted. “Meetings, for instance, might actually be more efficient online than everybody coming into the office.”

Looking at productivity, the Bureau of Labor Statistics said productivity rose 4.4% in 2020 as workers were forced to work remotely because of the pandemic. It was cut in half to 2.2% in 2021 and dropped even more in 2022 as inflation pummeled workers.

The 2023 numbers, however, look much better and productivity in the third quarter of 2023 is up 1.3%.

Most of the 8,000 workers insisted that remote work is much better for their well-being than trudging into an office everyday. A whopping 93% said working from home impacts their physical health positively and 90% say it is positive for their mental health.

Plus, Frana said, the lack of a commute lets workers structure their lives to add a really nice balance between work life and home life. That balance has them eating better and moving their bodies about better. They can take walks, stretch at will and do other physical things are may often be impossible at the office.

As for dealing with less money, the worker saves on gas, car maintenance, eating lunch out, coffee, business clothes and more. So the work from home instead of more money just might be worth it economically.

The negative of the let-me-work-at-home-or-else mentality is inflation. Frana says hiring rates are slowing.

“This is a time where employees and employers can talk to each other and listen to the feedback they are giving each other,” she says. “Reevaluate your remote or hybrid policies, and if they’re working, see if there are ways they can be enhanced to meet the needs of your employees.”

Source link: Employee Benefit News — https://bit.ly/3QRxIqM

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