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The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
When work shifted to remote settings for many employers in early 2020 due to the pandemic, companies assumed the situation would be temporary. However, as months stretched into years, much of the working population found that they enjoyed working remotely, at least part of the time.
68% of employees preferred working from home, with nearly half declaring they’d either quit or search for new jobs offering remote work if their employers ordered them to return to the office. Many employees expressed they’d take a pay cut or forfeit benefits in exchange for remote work options.
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The pandemic era phenomenon known as “The Great Resignation” has seen millions of employees voluntarily leaving their jobs. 48 million of them abandoned their jobs in 2021, according to data from t...
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Employees value greater flexibility, and any sweeping form of transformation that fails to address this is missing an essential target. Leaders often fail to realize just how important genuine flexibility is—so much so that their views of it differ substantially from that of their workforce.
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A study by the research firm Gartner found that a hybrid work model significantly boosted employee engagement and sense of inclusion.
Remote work can also lead to a sense of isolation among certain employees. A Gensler Research Institute survey found respondents missed most about being in a...
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