Tax and consulting firm PwC announced last week that it will let employees work from home in perpetuity. Wall Street took notice.
As one of the Big Four accounting firms, its actions ripple across the financial-services landscape.
The other big players that have gone the “WFH forever” route include Twitter, which made the decision in May 2020, as did Jack Dorsey’s other company, Square.
February saw Salesforce unveil its “work from anywhere” initiative, as did Spotify. In September, Zillow announced that it was “de-emphasizing location” as a factor in determining pay, which makes it easier for employees to relocate. (The company unveiled its “WFH indefinitely” philosophy in July 2020.) And Coinbase, which announced in the spring of 2020, that it was going big on the WFH front, shared some of its learnings and plans three months ago, as it continues in that direction.
Dominique Baillet, global head of employee experience, diversity and inclusion, wrote on the company blog: “[T]his first chapter was also ‘the easy part’ of remote-first because we were all in a single mode, forced into a state of universal work from home. The next chapter, in which we fully inhabit our remote-first future—with some folks in the office five days a week, some a few days a week, and others never—is where the rubber meets the road, and where we can expect a whole new set of lessons to learn.”
Americans love the idea of working from home. To insure that they could continue to do so, 65% said they’d be willing to take a pay cut, according to a survey by Breeze Insurance this summer. Sixty-five percent would give up 5% of their salary, while 15% said they’d be okay forking over one-quarter of what they earn. Big chunks of respondents also indicated they’d forego things like health insurance, paid time off, 401(k)s or other retirement plans, or student loan repayment assistance. Fifty-three percent would work an extra 10 hours per week in exchange.