Number of remote working vacancies drops 24 per cent after peaking at 130,000
After climbing to an all-time high of 130,000 in June, the number of remote working vacancies advertised has fallen to 99,000 in August, according to new data shared with City PM today.
This is a significant drop of 24 per cent following months of climbing and suggests that businesses are returning to pre-pandemic ways of working.
Pre-pandemic, remote roles accounted for 0.8 per cent of all jobs advertised. Since then, this figure has been trending upwards reaching a peak of 4.2 per cent in August, according to the data from talent agency New Street Consulting Group.
For the first time since before the pandemic, this trend has reversed month-on-month with 111,000 roles advertised in July and dropping further to 99,000 in August making up just 3.1 per cent of all jobs advertised.
Back to the office
As the vaccination programme has rolled out and restrictions lifted, many businesses and politicians have encouraged people back into the office in a bid to boost productivity and assist in the bounce back of other sectors, such as retail, bars and restaurants.
This has seen many businesses such as Goldman Sachs and BP return to the office full-time whilst others have adopted a hybrid working model.
“We saw businesses respond and adapt quickly to the pandemic bringing into question whether office-based working was necessary for many businesses,” Natalie Douglass, Director at New Street Consulting Group, said.
“With the number of advertised remote roles peaking in June, the true indicator of long-term sentiment will be in the coming months. Will the trend keep falling and return to pre-pandemic figures or will it plateau somewhere higher?”
“There are many factors in play for both businesses and employees that will drive this – Where are employees more productive? What’s the impact on company culture? Where are employees most happy?
“Businesses should be using this time to test and learn to identify what works best for them and their team. Those that fair best in the long run will be the ones who find a balance between the commercial needs of the business and the desires of their employees. This will look different across sectors and organisations but will most likely combine hybrid and flexible working models.”