Rejecting hybrid work models may cost employers, a survey finds.

A paper entitled “Why Working from Home Will Stick” finds that Job seekers may take the same job with a 5% to 10% pay cut if it allows a WFH option. Also, if you are in a war-for-talent employers may have to offer much higher pay to retain staff.

Based on a recent survey of 30,000 Americans the abstract states that 20% of full workdays will be supplied from home after the pandemic ends compared with 5 % before and supplies evidence for 5 reasons for this trend;

- Better-than-expected WFH experiences;

- Investments in physical/human capital that enable WFH;

- Greatly diminished stigma associated with WFH;

- Lingering concerns about crowds and contagion risks and;

- A surge in tech-innovations that support WFH.

From this they project 3 consequences:

1. Employees will enjoy large benefits form remote work;

2. The shift to WFH will reduce spending in major city centres by at least 5 to 10% compared to pre-pandemic periods;

3. A 5% productivity boost is predicted in the post-pandemic economy due to re-optimised working arrangements.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3741644 #wfh #ucaas #collaboration