New Wave of Resignations Anticipated as Employers Scale Back on Remote and Hybrid Work Policies.
A significant proportion of individuals working in the financial sector have expressed their willingness to switch jobs rather than comply with increased office attendance. The latest survey conducted by Markets Live Pulse reveals that approximately half of finance professionals would readily change their current positions, or have already done so, if their employers mandated more office hours. Out of the 1,585 respondents, which comprised 1,320 financial professionals and 265 retail investors from around the world, over half prefer a hybrid work arrangement, while only about 20% favour the traditional office setting.
Meanwhile, a study conducted by LinkedIn indicates that more than a third of workers in the United Kingdom would consider quitting if required to work full-time from the office. This research sheds light on the substantial changes that have occurred in the realm of work since the initial Covid lockdown. LinkedIn data reveals that six out of ten employees are contemplating changing jobs this year. However, one-fifth of this group would opt to stay in their current roles if they continue to have the option to work remotely or enjoy flexible schedules. The desire for workplace flexibility is particularly pronounced among women, with over half (52%) reporting that they have either left or are considering leaving their jobs due to a lack of flexibility. These findings are based on a combination of LinkedIn data and multiple worker surveys.
However, several notable companies, including Disney, Apple, Starbucks, Google, and Goldman Sachs, have begun scaling back their remote work policies or limiting hybrid work options to encourage employees to spend more time in the office.
LinkedIn's research further reveals that the demand for remote roles in the UK exceeds the supply, as remote job postings accounted for 22% of job applications in February. Nonetheless, almost half (49%) of company leaders in the UK and abroad express a preference for their employees to work more frequently from the office.
Earlier this year, employees at the online retailer Amazon voiced criticism over the CEO's decision to require them and their colleagues worldwide to return to the office for the majority of the workweek, or at least three days. Amazon is not alone in this shift, as LinkedIn found that nearly a third (32%) of companies were seeking to reduce opportunities for remote work in late 2022.