Commuters might deserve a bonus, given the extra time and expense. But employers should be upfront about their policies, says Sarah Green Carmichael for Bloomberg Opinion.
It’s expensive, and not only because of the price of parking or train tickets - if you can’t be home in time to pick up your kid from day care, you’ll have to hire someone to do it. If you don’t have time to cook, you’ll have to get takeout. The costs add up.
And a study last year by Jose Maria Barrero, an economist, and several collaborators suggested that remote work lessened wage-growth pressures because workers value it so highly. As my colleague Jonathan Levin wrote at the time, “remote work has an ‘amenity value’, much like a company car or an office gym”. Clawing back that amenity could be expensive: A survey of London workers conducted by Bloomberg Intelligence earlier this year found that employers would need to give hefty raises to lure people back to offices five days a week.
But the recent crop of CEO comments tying pay to office presence aren’t framing remote work as an amenity. They’re calling it a performance problem for which remote workers should be financially penalised.Some of this is basic loss aversion, the psychological principle that bad is stronger than good. If you find U$20, you’ll be mildly pleased. But if you lose U$20, you’ll be seriously annoyed.
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