Wednesday, September 22, 2021

Working from home: Employees willing to take pay cut, give up benefits

Many US workers have been allowed to work from home during the COVID-19 pandemic and a new report suggests many would like to keep it that way.

NS Survey From Breeze, a Nebraska-based company specializing in disability insurance, shows that 15% of American workers would be prepared for a 25% pay cut if their current or future employer allowed them to work remotely.

The report said that 65% of employees would take a 5% pay cut to work from home, while about 40% would be willing to give up their health benefits and 44% would give up dental coverage.

a sea change

The numbers indicate a major change in the way people view the workplace, and it highlights the increasing value it places on employees’ work/life balance.

a 2020 report Research and consulting firm Gartner showed that more than 80% of company leaders said their organizations plan to allow employees to work remotely at least once the COVID-19 pandemic has passed.

John Swift, a regional vice president of global talent solutions firm robert half, said that many employees have become firmly involved in their work-from-home arrangements.

“The last 16 months they have had time to adapt to this new lifestyle,” he said. “People who previously weren’t interested in working from home are now resistant to the idea of ​​going back to the office.”

Swift said remote work arrangements have also broken down geographic boundaries, as companies can now recruit workers from almost anywhere.

“Locally, an LA-based company that previously only competed with other LA-area companies for job candidates is now competing with companies west of the Mississippi or even further,” he said. . “The employees know this. They have the upper hand.”

a candidate market

The Breeze survey also shows that 46% of workers would give up a quarter of their paid time off in exchange for being able to work remotely.

Swift said many people are ready to jump ship if their current employer doesn’t allow them to continue working from home.

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“I was talking to a job candidate that day whose employer is in Pasadena,” he said. “During the pandemic, he moved a few hours inland to the Empire. But now his company wants him to come back to the office.

The candidate, Swift said, has gone from being “happily employed” to looking for a new job that will either be closer to where he lives or offer remote work.

“He’ll get it,” he said. “It’s a candidate market.”

Remote work was unknown to many when it started gaining traction in March 2020. Surrounded by Zoom’s difficulties, the first few weeks were rocky and upsetting for officers and staff alike.

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But some studies have shown that people who work at home tend to work longer hours and overwork. In fact, a study by stanford Out of 16,000 workers in nine months, working from home increased productivity by 13%.

an upward trend

a The future of the workforce pulse report A release from UpWork late last year said that one in four Americans will work remotely in 2021. And by 2025, the study said, 36.2 million people will be working remotely – an 87% increase from pre-pandemic levels.

Working from home: Employees willing to take pay cut, give up benefits
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