SURVEY FINDS 66% OF AMERICANS WILL TAKE A PAY CUT FOR FLEXIBILITY TO WORK REMOTELY
Jul. 14, 2020
Source: Fast news release
San Francisco - A new nationwide survey from Fast shows that 66% of Americans say they would be willing to take a pay cut for the flexibility to work remotely, instead of being required to return to an office. Reflecting on the recent rise in COVID-19 cases, American employees are increasingly worried, with 39% saying they are less comfortable about returning to their physical office compared to 30 days ago.
"Many Americans are extremely nervous about working in a physical office and place a high priority on being able to choose for themselves about when to work from home," said Fast Chief Operating Officer and Co-founder Allison Barr Allen. "Companies that want to remain competitive by attracting and retaining the best talent will need to quickly adapt their approach to offer remote options."
As part of Fast's commitment to prioritize employee health, wellness and individual needs, as well as space for collaboration and connection, the company recently rolled out a hybrid workplace initiative called Fast Flex. Under Fast Flex, each team member can decide where to work on any given day, whether in the Fast office, from home or from another location anywhere in the world. Every Fast employee receives $500 to create a comfortable at-home office set up, plus a monthly stipend for high-speed internet and even regular shipments of snacks sent to them.
Fast's survey data also found:
• 89% of Americans are currently working from home due to the pandemic
• 65% prefer a workplace that gives employees the flexibility to choose where and when they work remote, while 20% prefer full-time remote work, 9% prefer working permanently from a physical office and 8% have no preference
• 39% of Americans are less comfortable returning to the physical workplace compared to 30 days ago, 30% feel the same level of comfort and 29% feel more comfortable
• Those in the South are the least comfortable about returning to the office compared to how they felt a month ago (46%), in comparison to 29% in the Northeast, 43% in the West and 34% in the Midwest
• Latinx (49%) and Black (43%) employees have grown significantly more concerned about returning to a physical office over the last 30 days, compared to white workers (36%)
Most Americans are willing to take a pay cut to ensure flexible remote work:
• 14% would take a 1-4% pay cut
• 29% would take a 5-14% pay cut
• 17% would take a 15-24% pay cut
• 7% would take a 25% or more pay cut
• 34% would not take a lower salary for flexible remote work
Americans between 35-49 years old are also most willing (74%), compared to only 47% of those older than 50 and 71% between 18-34. Men are also much more likely to take a pay cut, at 74% compared to 58% of women.
Fast's survey was conducted online within the United States among 600 U.S. adults ages 18 and older, who are currently employed in a job that could be performed remotely, between July 5-7, 2020.