WHEN THE pandemic ends, restrictions on movement will ease, socialising will return and face masks will be retired. For many people, however, working arrangements will be permanently altered. Many firms will undoubtedly allow their employees to work from home more often; others will do away with offices altogether. Coinbase, a crypto-currency exchange planning an initial public offering in the coming weeks, seems especially keen on changing how it operates.
This shift will be a welcome change for many employees, especially those who used to have long, arduous commutes. But those who go remote on a full-time basis will incur at least one cost: paying for extra workspace at home. Such expenses are not trivial.
In this way, remote work allows firms to push real-estate costs onto their employees. This burden is especially onerous for the poor, who spend a larger share of their income on housing than the rich. Mr Stanton and Mr Tiwari estimate that firms would have to pay remote workers in the bottom decile of household earnings an extra 10-15% to compensate them fully for their increased housing costs.
One limitation of Mr Stanton’s and Mr Tiwari’s research is that it compares the housing costs of people who work from home with those who travel to work within the same commuting zone. If more companies adopt Coinbase’s strategy, workers will feel free to leave big cities entirely, thus offsetting the costs of having home offices.
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It also allows staff to reduce car, fuel, transport costs, and save time on these, more than equals I bet! Better for the enviro, and they can cobine rooms for other things like a gym/ office/ tv room. Work/ life balance is easier to manage. Mortgage isn't burning money....
I call bs. Home expenses exist regardless of where one works. Should read companies that have remote workers reduce carbon footprint and transportation costs of employees.
How much less did they pay on transportation costs?
interesting… maybe freedom and joy is the first productivity
Mmmmmm, maybe perhaps because they freely chose where they’re living, rather than being beholden to office locale? 🤔
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