Some will shrug it off with a, “well, it was good while it lasted.” Others will write in, jam up human resources with complaints, or even move on in the coming weeks. This is, of course, all in reference to major companies mandating a return to the office.
The moves fly in the face of the positive statistical reports. Many showcase increases in productivity and employee happiness. It wasn’t long ago that 75 per cent of Londoners said they’d resign rather than return to public transport commutes every day.
Now, it seems that some of the biggest companies and corporations in the world are calling these bluffs. In the UK, given the cost of living in London, the trend may result in housing market upticks elsewhere. Workers don’t want to give up this favourable arrangement.
Entrenching in the Hybrid Lifestyle
Many argue that employers want to test the will of their employees, people will just jump ship. People currently living in London for hybrid or even entirely work-from-home arrangements won’t need much more of a reason to do so. The cost of living in the captial before considering the extortionate rates for rent is around £1,053 per month.
Single-bedroom flats in the city then chuck up a monthly bill of around £2,200 in rent. Mortgages on five-bedroom houses in towns in Norfolk around two hours away are less than half that. For those lucky enough to own a place, their monthly mortgages will be steep. For the most part, this will be without guaranteed parking or a garden.
The upside is that London properties remain valuable. They are also in high demand if hybrid and work-from-home employees are looking to leave. Anyone spending time online looking into “how to quickly sell my house for cash” will find plenty of options. The main platform offering this gives a free cash offer and doesn’t have any hidden fees.
As the sale to them can happen in your own timeframe, anyone looking for somewhere cheaper to set up their hybrid working space can do so when it suits them. In the UK, there’s expected to be a rush to move to avoid stamp duty threshold changes. Plus, even places in Kensington and Chelsea have seen values dip.
The Battle for Hybrid Work Begins
The largest bank in the US, JP Morgan Chase, made headlines by mandating a complete return to the office from March. It follows others like Amazon, Nike, Apple, Disney, Tesla, and many other predominantly US-based companies.
Inevitably, people will quit over these moves. Other companies will find an edge through this. Plenty of lower-tier and ambitious businesses will be happy to snap up the wantaway talents if they are able to give them their preferred working habits.
After all, over one-third of 25 to 34-year-olds say they’re more likely to resign if they’re to now spend more time in the office. That’s a key demographic of important and talented workers. They can be won over by businesses offering better conditions even if the pay isn’t quite as high.
Hybrid and work-from-home advocates should look to cash in on their power to enforce their desired work conditions. Make the most of hybrid now with better living conditions and then seek those placements that are willing to stick with this revolutionary way of working.
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