Tag: Pay cut

35% of millennials likely to take a pay cut  

A survey by Hitachi Capital UK revealed that over a quarter of office workers are willing to take an 8% cut in pay to switch to permanent home working, with 2% prepared to forgo 20% of their salary to work from home permanently.  

According to the survey, those earning in the lower salary brackets are driving the trend with a third of office workers earning less than £40,000 per annum most willing to accept a pay cut to work from home. This compared to 20% of those earning over £40,000.  

39% of Generation Z want a permanent work-from-home solution compared with 16% of millennials who also want to work from home permanently; this despite 31% missing interpersonal interactions in the office.  

Millennials are most likely to consider taking a pay cut (35%), followed by over 55s at 25% and 45 – 54-year-olds (24%) if it meant the reduction was less than their usual travel spend and were given increased flexibility by their employer. 

Meanwhile, the ability to balance household and family responsibilities alongside work is driving half of female decisions to work from home (49%) compared to 37% of men. 

Spending time with family is a key incentive for over a third of males (34%) to work remotely compared to 26% of females. 

The report revealed the following regions are most ready to return to the office: Yorkshire and the North East (21%), as the office environment and access to a conventional desk allows increased focus and productivity. While, Northern Ireland (37%), West Midlands (35%) and South West (31%) are the strongest supporters of the post-pandemic shift to hybrid working. 

Theresa Lindsay, Group Marketing Director at Hitachi Capital UK PLC said, “The pandemic has led to a seismic shift in the way people want to work to effectively manage their work and home life commitments. It’s clear that most employees have adapted very well to remote working whilst actually enhancing productivity.”  

 

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