Thursday 18 February 2021 6:15 am

Remote working will come at a cost, FTSE and S&P 500 hiring execs warn

A survey of HR execs in FTSE 100, S&P and Dow Jones has shown than remote working might harm employees’ pay and promotion.

Two-thirds of the respondents believe workers will spend less time in the office, predicting an end to the five day week.

And there’ll be consequences for teamwork and collaboration too, according to the survey commissioned by executive search firm Leathwaite.

Some remote workers could soon take a pay hit as well.

Just under half of the major firms’ HR execs believe wages and bonuses would need to be adjusted if people decide to work remotely in areas where the cost of living is lower.

More worryingly for work-from-home fans, more than a third of the major companies surveyed said that they believe promotion could be restricted for workers who choose to permanently work remotely.

Firms also worried that the rise in remote working would lead to falls in innovation and collaboration, with almost 40 per cent of respondents highlighting this as their biggest fear in the post-Covid working environment.

Andrew Wallace, managing partner at Leathwaite, said: “Remote working is delivering a mixed bag to companies and the people they employ.

“Many people are enjoying the advantage of working from home, but increasingly it’s likely to come at a cost to both their salary and career prospects. Zoom is a great tool, but it doesn’t replace being in the office.”