Remote Workers Lost Nearly $10,000 from Delayed Promotions in Last Year, New BambooHR Study Finds
LINDON, Utah, June 10, 2021 /PRNewswire/ -- BambooHR, the industry's leading cloud-hosted software provider dedicated to powering the strategic evolution of human resources, today released a new study revealing the average remote worker estimates that they lost more than $9,800 in promotions that were delayed or denied during the last year.
As corporations across the country claim hybrid work is here to stay, the study of more than 1,000 remote workers looks at how the shift in workplace realities is impacting pay, gender, racial and age divides, and how it left more than half of workers (53%) feeling burnt out on a weekly basis. Now organizations must face the fact that nearly one-third of remote workers plan to switch careers or look for a new job in the next six months.
A sample of key findings from the study include the following:
Career digression. The COVID-19 pandemic didn't just halt travel and social interactions; for many employees, it halted their career and financial progress as well:
Burning out and visibility. Remote workers have had a difficult time finding work-life balance and are feeling exhausted which may result in high turnover once normalcy resumes.
Imbalanced impact. The COVID-19 pandemic had varying effects on many different groups, but there are clear differences in the experience had by those of different races and generational groups.
"One of the most important conversations of this year is if and when companies will transition back to in-person or hybrid workplaces but our data is a stark reminder that we need to be discussing more than just the logistics of this return," said Cassie Whitlock, head of HR at BambooHR. "With 85% of remote workers saying they have new expectations of employers, how people are experiencing the impacts of remote work, pay discrepancies, and more, must be taken into consideration for companies to retain the talent they have carefully recruited up until this point."
To access the full report, visit: https://www.bamboohr.com/resources/ebooks/career-progression-report/
SOURCE Bamboo HR LLC