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Research shows that many workers evaluate remote work to a degree that would allow them to take pay cuts so that they can work from home, even part-time.
The prevalence of remote work that has swelled during the Covid-19 pandemic. Many people probably experienced telework for the first time in their careers. According to the Pew Research Center, employees cite work-life balance as their greatest benefit.
Some researchers quantify the financial value workers they assign to Telework.
For example, a recent survey by researchers at Harvard University, Johns Hopkins University and the University of Illinois at Urbana-Champaign found that about 40% of workers would accept pay cuts of at least 5%. .
Researchers who voted over 2,000 workers said about 9% would trade at least 20% of their salaries to maintain telework.
Put another way, workers see the ability to work from home, the equivalent of a salary increase, according to Nick Bloom, a Stanford University economics professor who studies workplace management practices.
Data collected by Bloom in recent years suggests that the average worker will equal a salary increase of around 8%, he said.
“The numbers look very stable,” Bloom said in an email.
“For a subset of workers, we can find a higher number,” Bloom said, compared to the pay cuts they accept.
For example, the National Economic Research Working Paper, published in January, examined workers mainly in the technical field.
“The reality is that it’s a very attractive feature of the job,” said Zoe Cullen, assistant professor of business administration at Harvard Business School, who co-authored the NBER study.
This paper examined data on almost 1,400 workers in the US technology sector. The average person was 32 years old and had about seven years of practical experience. Researchers collect data on job offers that individuals ultimately choose jobs, with average gigs offering $239,000 per year with compensation of $239,000.
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Of course, not all Americans prefer outside the office work.
According to the Pew Research Center, approximately 41% of workers with the ability to work in the office have the ability to work in the office, but rarely do so.
Working from home has declined even from the peak of the pandemic era.
Large companies such as Amazon, AT&T, Boeing, Dell Technologies, JPMorgan Chase, UPS and Washington Post have launched missions to at least some of their employees’ offices.
President Donald Trump also issued an order on January 20 to end remote work for federal employees, requesting full-time office attendance, with a few exceptions.
That said, labor economists say that on a nationwide scale, employers don’t appear to be cutting back on a massive basis.
According to a WFH survey, work has been stable between 25% and 30% over the past two years, the past two years.
According to labor economists, it’s not just the employees who make a profit. Remote work is also a beneficial arrangement for businesses.
For example, employers can save money on real estate by reducing their office space. They can also hire job seekers from across the country with potentially lower relative salaries, depending on their geography.
Workers who are capable of working from home also tend to quit frequently, which tend to reduce corporate spending on expensive functions such as employment, hiring and training, Bloom said.
