What Hybrid Work Means for Your Pay and the Future Workplace
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Here's your Money Briefing for Thursday, January 27th. I'm J.R. Whalen for The Wall Street Journal. For many workers, the pandemic has been all about adjustments, working from home, finding a work-life balance, and for many, taking on a hybrid work schedule, you know, mixing a few days in the office with a few days from home. So how's it all working out?
More people value flexible hours than they do over flexible locations. So, you know, where they get to work from. But the numbers are still really high on both accounts.
So how does that square with what managers want? And how have people's expectations about their pay changed? Our reporter Katie Binley has been tracking worker sentiment, and we'll talk with her about it after the break.
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Recent surveys of workers nationwide show that hybrid work schedules are popular with employees. But that flexibility has raised new questions about employee pay and advancement opportunities and what work schedules are likely to look like post-pandemic. WSJ reporter Katie Binley has been looking into this, and she joins me now. Hey, Katie, thanks for taking the time to chat.
Thanks for having me.
So, Katie, we've seen a lot of companies institute hybrid work schedules or a mix of days in the office and at home. But for many companies, it's been a while to get to that point.
Yeah, I mean, I think what we've seen is there were sort of these windows of hope throughout the pandemic of, okay, we think you guys are going to start coming back over the summer or in the fall. And it's just gotten pushed back so many times that I think it's led to more companies coming around to the idea that maybe we're just going to have to make do with remote work and hybrid arrangements because a full back in the office date has been getting less realistic for a lot of companies.
It's been about two years now that people have been working from home and now adding in some kind of hybrid arrangement. What do we know about what kind of arrangements workers are most interested in?
Well, so what's interesting about this is that this survey that we looked at found that more people value flexible hours than they do over flexible locations. So, you know, where they get to work from. But the numbers are still really high on both accounts. So I think it was 95% of people surveyed want flexible hours compared to 78% of people who want location flexibility. So really, you know, across the board, what people care about is having a say, some say and when they work and where they work, or where they work from rather. And another interesting aspect of this is that 70% of the knowledge workers who were surveyed who said they weren't happy with the level of flexibility said that they're likely to look for a new job in the next year.
So, I mean, basically, the moral of the story is that if companies aren't willing to give them flexibility, that you have some potential flight risks there.
And how has all this affected people's expectations regarding pay?
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