Will Working From Home End?

7/21/2020

Nearly half of investors have made a change to working from home since the onset of the coronavirus pandemic, according to recent Spectrem Group research.  There are many questions and issues surrounding the topic of working from home; when will companies return to work, will returning to work coordinate with returning to school, are individuals anxious to return to work or dreading returning to work?  The even more difficult component to these issues is that many people aren’t certain how they feel about the country returning back to “normal”.

When considering the topic of working from home, there are very defined opinions.  Almost ninety percent of Millennial investors prefer to work from home, as opposed to working at the office.  That percentage changes with age, as Baby Boomers only slightly prefer to work from home rather than the office, with 56 percent of Baby Boomers preferring working from home.

 

It is important to note that far fewer Baby Boomers have been forced to work from home than younger investors like Millennials and Gen X investors.  Ten percent of Millennial investors have lost their job, and another 23 percent have had their hours cut back or been furloughed.  This is in stark contrast to the three-quarters of Baby Boomers that have had no change in their working situation.

The desire to get back to work varies significantly based on occupation as well, which is to be expected.  Eighty-six percent of professionals prefer working from home, and three-quarters of information technology investors prefer working from home as well.  It is not surprising that more than half of educators prefer to be back at work.

Differences between investors regarding working at home or at the office is also noticeable among political parties and genders.  Democrats are far more likely to prefer working from home, while Republicans are nearly split between preferring to work from home versus the office.  Women far prefer working from home, while men only slightly prefer working from home.

Businesses that previously required employees physically in an office setting have had to adapt and adjust due to the coronavirus.  These changes will make it difficult for those same businesses to insist that it is required for employees to be in the office in order to effectively do their job.  Investors that are nearing retirement may take this opportunity to speed their retirement up if asked to report back to the office physically.