Flex workers place a high value on being able to work from home—but how much is it really worth to clock in from your bedroom in your PJs?
About 5%, actually. That’s according to a recent study by Harvard Business School researchers titled “The Rise of Remote Work: Evidence on Productivity and Preferences from Firm and Worker Surveys” published by the Journal of Economics & Management Strategy.
According to the research, which polled more than 2,300 workers, nearly 40% of employees would take a 5% pay cut in order to keep working from home. Approximately 9% would take as much as a 20% cut to remain remote. Workers older than 50 were less likely to find value in a pay cut, with only 30% agreeing to only a 5% reduction.
The desire to work from home at a cost varied by industry, with professionals and those in health and education valuing it the most, while traditionally site-specific professions like construction and manufacturing prioritizing it least.
Participants in the research were asked twice about their willingness to accept a pay cut to work remotely—once in December 2021 and again in June 2022. Respondents whose jobs can’t be done remotely were not counted in the survey.
4 Reasons Managers Don’t Like Remote Work
- Bad for new hires
- Disrupts ability to work as a team
- Results in 3.5 fewer hours worked a week, according to a report by Liberty Street Economics
- Productivity drops
[Source: Yahoo!Finance]
