August 10th 2023.
With the passage of time, remote work and the hybrid model has become increasingly normalized. Employees can opt to work without the hustle and bustle of the office, and many prefer the flexibility and freedom that comes with this approach. A recent study by Deloitte found that two thirds of full-time executives in the financial sector would consider quitting if they had to resume full-time office work. This illustrates the need for companies to listen to employee needs and provide flexible working arrangements.
The survey also found that only 18% of executives would prefer to work in the office three to four days a week. Instead, 45% of respondents valued the ability to structure their daily tasks around the option to work remotely or go into the office. Money savings was another key benefit, with 69% of executives noting that working remotely may be less harsh on their pockets.
The comfort and convenience of remote work also played a role in its popularity. During the pandemic, many employees had to uproot their lives in order to keep working, and 49% of respondents found this to be the biggest benefit. Even those making over $150,000 a year would take a pay cut to continue this lifestyle.
Clearly, employees value the flexibility of remote work and companies must recognize this to ensure they don't lose their leadership and talent. It's important for employers to listen to employees' needs and implement workplace flexibility to reduce the risk of high turnover.
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