Sequoia and ABC7 News Bay Area Release Part Two of The New Workplace Employer Report
Report reveals a 300% increase in companies planning a Spring 2022 return to office from November report
SAN FRANCISCO – March 30, 2022 – Sequoia®, the pioneer in Total People Investment, and ABC7 News Bay Area released the second New Workplace Employer Report with responses from more than 450 companies on how they’re shaping the new workplace. Findings from the report show many companies are changing people policies as more employees return to the workplace on a hybrid basis and with new expectations.
Return to the Workplace
While the Omicron variant delayed workplace return plans, more companies are preparing to bring people back.
- 24% of survey respondents plan to return employees to the workplace this spring. In November 2021, only 6% planned for employees to return in spring 2022.
- 60% of companies have not reduced their commercial office leases.
- Less than 20% of respondents reported converting to a fully remote workforce.
The Great Resignation and Labor Markets
Companies are addressing issues like compensation in the face of relocation and access to an expanded labor pool as they compete for job candidates from across the country.
- In the last six months, 57% of employers have experienced a 5-20% turnover rate.
- 53% of employers reported that employees who have relocated from higher cost of living/labor markets to lower cost of living/labor markets will maintain the same salary compared to 44% in November.
- 76% of respondents reported that between 1-20% of their employees have permanently relocated to a new state since the start of the pandemic.
Employee Wellbeing and Burnout
Companies are reporting commitment to employee wellness because of learnings during the pandemic.
- 72% of employers are offering flexible and enhanced time-off policies, and 47% of companies are increasing employee wellbeing services to prevent and reduce burnout.
- 34% of companies will stagger in-office days to limit the number of people in the workplace.
- 30% of companies report implementing designated “no meetings” days.
Sequoia is the pioneer in Total People Investment. We help people-driven businesses design, deploy, and optimize people investment strategies that achieve engagement and business outcomes. Through expert guidance and the Sequoia People Platform, our offerings in total rewards, benefits, wellbeing, HR & payroll, and business protection tie into a higher strategic role, enabling companies to manage their global people investments, with reduced administrative burdens and deeper employee care and support.
AMF Media Group