According to a study by the National Bureau of Economic Research, remote work at some companies replaces raises or bonuses. In the report, 38% of companies surveyed mentioned they offer work-at-home benefits instead of pay rises.
When the pandemic started and remote work became the norm, trends such as “The great resignation” took place. For many, going to the office was no longer an option. However, this led companies to make remote work a benefit rather than the norm.
Remote Work is the New “Beer Pong Fridays”
The National Bureau of Economic Research surveyed 500 companies. 38% of them reported they offered remote work instead of pay raises in the last year to lower growth. And 41% plan to do it within the next year.
Firms in the industries of finance, insurance, and real estate firms were the most likely to offer these types of benefits.
According to the chief career strategist for the Bauke Group:
“This is not new. There were studies 20 years ago that said that people would give up 10-20% of their income to have more flexibility. And so the workers have been, you know, screaming into the night for years for more ways to manage their lives.”