Between a morning latte, subway fare and a salad bowl for lunch, the cost of going into the office can rack up. It’s not just a drop in the water—big city workers are saving thousands of dollars when they work from home, according to the latest report from Work From Home Research.
In New York City, it has been calculated that working from home has led to workers spending $4,661 less per-year on average on food, shopping, and entertainment in their offices’ neighborhoods. While in Chicago, workers are spending $2,387 less per-year, and $3,040 in San Francisco.
But you don’t have to live in a big city to enjoy the typical savings associated with remote work ––including commuting costs (gas, car maintenance, insurance, public transport), clothes (buying, laundry), eating out, and the intangible but invaluable savings of time. Not to mention the flexibility to balance work and personal responsibilities and to potentially experience improved well-being.
Flexible working
The flexible working world was born of a frenzied reaction to a crisis, but it has remained as a desirable job feature for millions. A recent McKinsey survey found that 87 percent of employees would take the opportunity to work remotely if offered.
This dynamic is widespread across demographics, occupations and geographies. It represents a tectonic shift in where, when, and how Americans want to work and are working right now.
Up until a few years ago, salary was king of the career decision ladder. Whether retaining current employees or hiring new talent, money was the ultimate factor when choosing one company over another.
However, salary is no longer the top priority when it comes to employee benefits. Of all the benefits that companies and organizations can offer to employees, one benefit—the flexibility to work when and how they want—is the most empowering.
For many, having the freedom to split time between the workplace and home, and the flexibility to choose which days to come in, are just as important as traditional benefits like matching 401(k)s and paid time off. Work-life balance is especially important to millennials. A survey by Deloitte claims that 16.8 percent of millennials choose their jobs based on the opportunity it presents them for achieving work-life balance. The same study claims that 11 percent of millennials look for flexibility as their top priority when deciding where they want to work.
The statistics prove it: providing hybrid and remote work is directly correlated with employee engagement. Engaged employees not only choose to stay at their current company, they sing its praises to family and friends and share their views on social networks where (potentially) top talent are currently searching for their next career.
According to a global EY survey, a little more than 50 percent of employees are prepared to job-hunt if their company does not prioritize workplace flexibility. It also revealed that companies offering post-Covid flexibility have a higher chance of retaining employees.
Not only does flexibility retain and attract employees, experts agree that it can make employees more productive by giving them the space to work when and how they want. In fact, workplace research indicates 79 percent of employees say that working remotely had little effect on their day-to-day performance. For a great many, autonomy in the workplace leads to a much less stressful working environment.
If having the freedom to work how you want, when you want is top of your wishlist, it’s worth investigating opportunities with companies that are properly adopting flexible working strategies. Your first stop? Head for The Hill Job Board where you can browse hundreds of jobs right now. Here are three hiring this week…
Program Director, Financial Sector Policy and Analysis, Federal Reserve Bank of New York, New York
Leading the way for future workplaces are institutions like the Federal Reserve Bank of New York, which is offering a hybrid/remote working role as Program Director, Financial Sector Policy and Analysis. You will lead a dynamic department of close to 20 people made up of leaders and professionals responsible for policy, strategy, and analysis of banks and non-bank financial institutions, with the aim of increasing the resiliency and stability of the financial system. Get full information here.
Senior Associate Director, Mergers and Acquisitions and Specialized Policy and Group Coordinating Officer, Division of Supervision and Regulation, Federal Reserve Board of Governors, Washington
Another progressive organization which believes in work flexibility is the Federal Reserve Board of Governors who have an open position for a Senior Associate Director, Mergers and Acquisitions and Specialized Policy and Group Coordinating Officer, Division of Supervision and Regulation. Operating in a hybrid work model, the successful hire will report to the deputy director of policy and will be responsible for the leadership and oversight of two functions: Mergers and Acquisitions and Specialized Policy, and will become a member of the Group Coordinating Committee (GCO). Apply for this job now.
Finance Transformation Strategic Manager, Deloitte, Columbus
As Finance Transformation Strategic Manager, you will be working to identify and execute strategic initiatives that pave the way to achieving our vision of a world-class finance organization. You will lead projects and project teams, gathering and analyzing information, formulating and testing hypotheses, and developing actionable recommendations. You will need five years’ of relevant experience with finance transformation, organizational transformation or strategy consulting; previous work experience with a top-tier consulting firm is preferred. Find out more about this job here.