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Work flexibility popular with employees is not the Holy Grail

The little guy is suddenly exercising more power as demand surges across the US economy and workers fill up with pandemic savings. Zillow,

For example, it states that most employees are permanently able to work remotely, and betting on such a policy creates the best talent.

Facebook also said earlier this month that all full-time employees who can work remotely can work more permanently with permission, even across borders. It was. Shopify,

twitter,

Dropbox,

Instacart and slack,

In particular, we have announced a permanent remote policy for many employees. Airbnb and Pinterest recently terminated a major lease in San Francisco, paying $ 113 million and nearly $ 90 million, respectively.

Employees definitely want more flexibility. According to data from the Working From Home Research Project, in a survey of 30,000 Americans, 30% said they didn’t want to go back to the office. A fashionable concept of “major resignation” recently created by Anthony Crotz, an associate professor of business administration at Maze Business School at Texas A & M University, assumes that employees are returned to the hardships of commuting and 9-5 office work. Yes, many people are stopped.

According to a global Microsoft survey, more than 40% of respondents were considering leaving their employer this year. According to a Prudential Financial survey widely quoted in March, one in three US workers does not want to work for an employer who needs to be on-site full-time. In an interview with Axios, Prudential Vice Chairman Rob Falzon said the possibility of a subsequent talent war kept him up late.

The latest job report from the Ministry of Labor shows that 4 million people quit their jobs in April, setting a record 2.7% for quitting as a resignation rate or share of employment.

But seducing more flexible workers is not without its downsides. As president and co-founder of behavioral analytics company Humanyze, Ben Waber has been studying team dynamics and working patterns for over a decade. He warns that companies are making significant changes to remote work based on little or no data. Many innings are required to achieve the main effect.

Waver’s research highlights that communication is often sacrificed by a completely remote workforce, and deficits are not always perceived. In one survey he conducted, the majority of employees stated that remotework improved or remained the same, despite a 21% reduction in non-primary contact connections for employees. It was. Among one of his Fortune 500 clients, he states that communication increased by 20% when employees worked directly only one day a week.

Productivity may decline. A paper by the Becker Friedman Institute for Economic Research at the University of Chicago shows that during Pandemic’s telecommuting period, the productivity of leading Asian IT services companies fell by about 20%. Total working hours increased by about 30%, but average production did not change significantly, the data show.

Earlier this month, Morgan Stanley and Bank of America CEOs said employees needed to return to the office immediately. James Gorman of Morgan Stanley, “not yet dictated,” said his employees should return by Labor Day to avoid “another kind of conversation.”

Many companies such as Apple and Alphabetof

Google is choosing something in between. However, the hybrid structure also has its drawbacks. A study by Nicholas Bloom, a professor of economics at Stanford University, and co-authors Jose Maria Valero and Steven J. Davis shows how hybrid structures affect corporate diversity. According to a survey, among college graduates with children, women want to work from home almost 50% more than men. Bloom said a 2014 telecommuting survey showed that he was 50% less likely to be promoted after 21 months than his colleagues in the company, so he said he was worried about differentiation.

Overall, young employees seem to be the most restless. According to a Prudential survey, 34% of millennials plan to look for new employers after a pandemic, compared to 24% of Generation X workers and only 10% of baby boomers.

Perhaps they should take a page from Scott Galloway, a NYU Stern Marketing professor who called work-life balance a myth in his blog post earlier this month. He points out that there is only a trade-off.

The boom will not last forever.

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Work flexibility popular with employees is not the Holy Grail

Source link Work flexibility popular with employees is not the Holy Grail

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