It’s safe to say that most of us are beyond thrilled that 2020 is behind us, yet the effects of what last year brought us are still going strong more than a month into 2021, and there’s no sign of our pre-pandemic lives fully resuming any time soon. Being forced into our homes has caused us to change the way we do most everything, from how we socialize, to how we shop, how we go to school, and certainly not least of all, how we work.
The events of 2020 have caused us to change our outlook and mindset on what it takes to run a business and about whether or not it is truly important to be “on site” for the majority of the time. Working from home has been a growing trend for several years leading up to 2020. In fact, remote work had risen by 173% between 2005 and 2018 according to Global Workplace Analytics. Millions of people were working from home before the COVID-19 pandemic. Now, thanks to apps like Zoom, it looks like working in the office is not nearly as important as we once thought. Still, no one expected remote working to become suddenly mandatory for the majority of all businesses across the globe.
So, what does today’s workplace landscape look like and how is our new paradigm affecting our lives, locations, and income? Now more than ever, employees are migrating away from larger cities and potentially away from their business headquarters in search of lower cost of living, and companies are certainly taking note. While cheaper living is a good thing, a new wage gap is emerging based on location and cost of living. Some companies are maintaining pre-pandemic salaries while others are incentivizing employees to relocate to cheaper areas with a one time bonus and then a drop in salary.
No matter what 2021 brings, navigating this new economy and way of working is sure to bring new precedents and challenges our way. View this infographic to learn more about remote work and the modern wage gap.