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Report Says Workers Will Take Pay Cut If Allowed to Work Remote

Report Says Workers Will Take Pay Cut If Allowed to Work Remote

Planted's 2019 Talent Trends report reveals that 70% of jobseekers are willing to take a pay cut to work from home, among other findings.

Planted, Inc., a smart career platform that matches top business talent with innovative and growing companies, released its first annual Talent Trends report to help companies understand what jobseekers really want out of their next opportunities in a competitive hiring market.

The United States unemployment rate has reached its lowest levels in a decade (3.6% as of April 2019), which has made hiring top talent an increasingly competitive process. At the same time, many companies have become well-known for their headline-grabbing perks and emphasis on flexible work options.

Planted surveyed over 1,000 candidates on their platform to find out how they really felt about these trends, including what they'd value the most at their next job and if they'd take a pay cut to work remotely.

They asked jobseekers to choose their top three preferred job perks, including the opportunity to work remotely, free meals, team trips, and commuter benefits. 61% of jobseekers ranked remote work opportunities as their top preferred perk in their next job, followed by unlimited vacation (52%), and company equity (34%).

Moreover, 96% of jobseekers are in favor of remote work, with 54% saying that they like the idea of working from home full-time and 42% saying that they would like to work from home at least occasionally.

But here’s the kicker: jobseekers love the idea of working remotely so much that 70% of them said that they’d be willing to take a salary cut to be able to work remotely from home. But when asked how much of a cut they’d be willing to take, 67% would only be willing to give up 10% or less, 18% would be willing to give up more than 10%, and 15% were not sure.

Planted launched in 2015 and has since helped thousands of organizations, from startups to nonprofits to Fortune 500 companies, grow their teams. "It's our mission to help companies and candidates reach their goals by demystifying the hiring and job search process," says co-founder and CEO Susan Zheng. "We're thrilled that our 2019 Talent Trends report adds another layer of transparency and insight for people sitting on both sides of the table."

You can download Planted's 2019 Talent Trends report here.