Should Your Pay Be Based on Where You Work?
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Here's your Money Briefing for Wednesday, July 7th. I'm J.R. Whalen for The Wall Street Journal. Over the past year, as companies have mapped out the reopening of their offices, they've been rethinking where people are going to work. Maybe a hybrid workplace where some employees split their time in office and at home, and some workers remotely full-time.
I think it's a big, big challenge for an organization to try to have one set of employees who are remote and another set who are on location, on site.
And that has given rise to questions about compensation and whether where you work should have an effect on how much you're paid.
It's going to be incumbent upon managers and then the HR people to really oversee the fairness and the calibration of the pay at the end of the day.
Coming up, we'll speak with two experts on how companies are rethinking compensation in the post-pandemic era. That's after the break.
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What workplace models are companies weighing as offices reopen?
Hybrid workplace has become one of the more popular phrases in the post-pandemic lexicon. As companies plan the reopening of offices, many employees expect to work some combination of in-office and remote days each week, while others may remain on a remote work schedule full-time by choice. But should a worker's location affect their compensation? Today, we have two experts with us who've given the topic a lot of thought. Susan Schroeder is a partner at the executive compensation consulting firm Compensation Advisory Partners. Susan, thanks for being with us. Thanks, JR. And Peter Capelli is a professor of management at the University of Pennsylvania's Wharton School. Peter, thank you for taking the time to come on the show.
Thank you. So, Susan, I want to start with you. Your consulting firm works with a lot of companies in major U.S. cities. You know, we've talked about how some companies are rethinking their position on work location. How widespread is this shift?
Oh, everyone's thinking about it. All of our clients are talking about it. All my friends are talking about it. It's a huge topic and everyone's trying to figure out what is fair and reasonable in this new world of remote working.
And what are you hearing in terms of options that companies are considering giving employees regarding, you know, location?
Well, I think it all really depends. I think it really depends on the type of industry and the skill set of the employees. In some of these hot skills, especially in tech, I don't think that there can be any discounts for remote working. It's just not going to fly. There's too much demand for the talent, and so people will just not put up with that and then go to another employer. And really, pay should be based on merit. And for the same job, you should be paid the same, you know, given all else being equal, you know, your background and experience and performance and such. For the same job, you should be paid the same, not based on your location. But, you know, companies are really struggling with this.
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