According to a survey from Redfin, about 10% of home sales are driven by employees forced to end remote work due to return-to-office policies. As more companies require employees to come into the office at least a few days per week, some remote workers face the difficult decision to sell their homes at a loss or lose their jobs. The desire for more space was the top reason for moving at 33.8%, followed by being closer to family, a lower cost of living, and getting a better deal on a home.
According to a new Deloitte report, many workers want to continue working from home or in a hybrid model. According to the report, 56% of employed adults worked in a fully remote or hybrid way at their primary job over the past year. Of those remote and hybrid workers, a whopping 45% said working from home caused family relationships to improve, and 40% said it improved their emotional well-being. Remote education is also gaining popularity, with 52% of respondents who learned remotely wanting to continue doing so in the future.
A study by Qualtrics found that Gen X tech workers are losing motivation for their work, with just 38% agreeing that their company’s mission and values are more motivating than pre-pandemic. This contrasts 56% of millennials and 47% of Gen Z. The study suggests that the pandemic, remote work, the Great Resignation, and layoffs have changed the outlook of Gen X workers, who built the modern-day tech culture.
Why do we care?
Take a moment to consider how happy an employee will be with their employer when they were forced to take a loss on their home to keep their job. That’s going to be good for morale.
I’ve talked before about the idea of considering outside factors besides work itself in employee motivation. For example, life perspective – those Gen Xers or impact on home life. The data is screaming to business owners and leaders to be holistic in their approach to management.
