As companies allow employees to work from home and not commute into an office, the question of where they can live will likely be raised as workers potentially will seek out cheaper options as opposed to big cities.
“It’s good for employees; they’re obviously making a choice and taking advantage of lower cost of living, cheaper housing, lower taxes and shorter commutes, so they’re going to be happier,” Moody’s Analytics chief economist Mark Zandi said.
That, in turn, will make companies address several human resources issues, such as how much they should be paying workers who live in cheaper places, Zandi said.
“For example, say I worked in New York and decided now I want to work in Vero Beach, Florida,” Zandi said. “I don’t want to go back to New York, I can do my job here no problem — but if I’m living in Vero Beach, should I get New York wages or Vero Beach wages?”
Author(s): Ian Thomas
Publication Date: 2 September 2021
Publication Site: CNBC