Remote work, which became a norm due to the COVID-19 pandemic, has now taken root as a win-win for many organizations, workers, and the economy. It helps workers find opportunities across geographies, save money and time, have flexibility, and reduce the risks of contracting the virus. For companies, it allows them to access talent across borders, save on expenses, and increase productivity. And from an overall perspective, a healthy workforce is good for the economy.

All that said, remote work presents challenges, some of which have recently gained attention. Yet, studies show that remote and hybrid work is here to stay. According to an ADP Research Institute study, 64% of respondents would consider quitting if expected to return to the office full-time.

ZipRecruiter recently conducted a study to understand the latest remote work trends, especially in job search and hiring. The following are a few insights from the study.

Most Job Seekers Prefer Remote Work

The study found that more than 60% of job seekers hope to find remote opportunities. Further, 20% wanted to work only remotely, and 40% preferred to work most of the time remotely. Job seekers’ preferences to work remotely remained quite stable throughout the year.

Many job seekers have become comfortable with remote work since they first experienced it during the beginning of the pandemic. About 13% of respondents in May said they were able to work for the same company but shifted to working remotely during the pandemic. In August, 11% of working job seekers wanted to change companies to shift to working from home.

Job Seekers’ Reasons for Remote Work Have Changed in Priority

Throughout the year, the reasons job seekers prefer remote work changed in priority. For example, at the beginning of the year, health and safety concerns were the top reason for 49% of respondents. The percentage went down to an average of 33% in the third quarter. On the other hand, commuting costs were a major concern for 50% of respondents in January. It increased to 64% in July and August. This is understandable, given the high inflation rate and economic uncertainties over the past few months. About 34% did say in July that the increase in gas prices had made them look for remote work.

Job seekers are also ready to take a pay cut to work remotely. According to the study, job seekers, on average, were willing to take a 14% pay cut to work from home. This seems consistent with studies conducted last year. For example, a study by beqom last year showed that 65% of people were ready to settle for lesser pay if they had the flexibility to work from anywhere. Interestingly, according to ZipRecruiter’s study, younger job workers are willing to forgo a bigger chunk of their earnings than older workers.

Average % cut in pay job seekers are willing to accept to work remotely, by age category

Source: ZipRecruiter monthly Job Seeker Confidence Survey

Job seekers with young kids valued the opportunity to work remotely the most. Job seekers also value flexibility more as their incomes increase.

Read the full report here