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How remote work beyond the pandemic will impact the Bay Area
Salesforce was the latest Bay Area company to announce its workers could continue to work remotely after the pandemic. The growing trend is reimagining the typical workday and space, but how will it impact the greater Bay Area?
OAKLAND, Calif. - The heyday of remote work isn't in the rearview as several organizations still allow employees to work from home. However, many companies have asked their employees to return to the office.
Mixed feelings
What they're saying:
Remote work has garnered mixed reactions, with some proponents believing it boosts morale and engagement among employees, while opponents attribute the model to declines in productivity.
40% willing to take pay cut
What we know:
A study by Harvard Business School professors Zoë Cullen and Christopher Stanton found that 40% of workers said they would take a 5% pay cut to continue working remotely, and 9% would take a cut of 20% or more to avoid the office.
Cullen and Stanton surveyed more than 2,000 workers for their study.
They found that the highest percentage of workers willing to accept a salary reduction were those who worked remotely before COVID-19, had a college degree, or changed jobs during the pandemic.
Researchers also discovered that women were more willing than men to give up 20% of their salaries to forgo returning to the office.
The Source: Harvard Business School study titled, "The Rise of Remote Work: Evidence on Productivity and Preferences from Firm and Worker Surveys.