Fast Survey Finds 66% of Americans Will Take a Pay Cut for Flexibility to Work Remotely
Friday, July 17, 2020
After a surge of temporary remote work due to COVID-19, new data shows American workstyles are heading toward permanent change
SAN FRANCISCO, July 9, 2020 /PRNewswire/ -- A new nationwide survey from Fast shows that 66% of Americans say they would be willing to take a pay cut for the flexibility to work remotely, instead of being required to return to an office. Reflecting on the recent rise in COVID-19 cases, American employees are increasingly worried, with 39% saying they are less comfortable about returning to their physical office compared to 30 days ago.
"Many Americans are extremely nervous about working in a physical office and place a high priority on being able to choose for themselves about when to work from home," said Fast Chief Operating Officer and Co-founder Allison Barr Allen. "Companies that want to remain competitive by attracting and retaining the best talent will need to quickly adapt their approach to offer remote options."
As part of Fast's commitment to prioritize employee health, wellness and individual needs, as well as space for collaboration and connection, the company recently rolled out a hybrid workplace initiative called Fast Flex. Under Fast Flex, each team member can decide where to work on any given day, whether in the Fast office, from home or from another location anywhere in the world. Every Fast employee receives $500 to create a comfortable at-home office set up, plus a monthly stipend for high-speed internet and even regular shipments of snacks sent to them.
Fast's survey data also found:
-- 89% of Americans are currently working from home due to the pandemic
-- 65% prefer a workplace that gives employees the flexibility to choose
where and when they work remote, while 20% prefer full-time remote work,
9% prefer working permanently from a physical office and 8% have no
preference
-- 39% of Americans are less comfortable returning to the physical
workplace compared to 30 days ago, 30% feel the same level of comfort
and 29% feel more comfortable
-- Those in the South are the least comfortable about returning to the
office compared to how they felt a month ago (46%), in comparison to 29%
in the Northeast, 43% in the West and 34% in the Midwest
-- Latinx (49%) and Black (43%) employees have grown significantly more
concerned about returning to a physical office over the last 30 days,
compared to white workers (36%)
Most Americans are willing to take a pay cut to ensure flexible remote work:
-- 14% would take a 1-4% pay cut
-- 29% would take a 5-14% pay cut
-- 17% would take a 15-24% pay cut
-- 7% would take a 25% or more pay cut
-- 34% would not take a lower salary for flexible remote work
Americans between 35-49 years old are also most willing (74%), compared to only 47% of those older than 50 and 71% between 18-34. Men are also much more likely to take a pay cut, at 74% compared to 58% of women.
Fast's survey was conducted online within the United States among 600 U.S. adults ages 18 and older, who are currently employed in a job that could be performed remotely, between July 5-7, 2020.
About Fast
Fast's mission is to make buying online faster, safer and easier for everyone. Its Fast Login and Fast Checkout products enable a one-click sign-in and purchasing experience that makes it easier for people to buy and merchants to sell. The company's products work on any browser, device or platform to deliver a consistent, stress-free purchasing experience. Fast is entirely consumer-focused and invests heavily in its users' privacy and data security. Headquartered in San Francisco, Fast is a privately held company funded by Stripe, Index Ventures, Susa Ventures, Global Founders Capital and Brian Sugar - who also serves on the board. To learn more, visit fast.co.
Mission North for Fast
fast@missionnorth.com
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SOURCE Fast
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