Another week, another ‘Wave’ ??

5 news items from the world of work and workplace you can digest in 5 minutes.

This week:

1. Remote & hybrid jobs attracting 50% of all job applicants
2. 55% of 2023 Gen Z graduates prefer remote or hybrid work
3. Creating mixed-use environments will prove the most resilient

Uptick in Hybrid Jobs: Remote and hybrid jobs are on the rise. Businesses have a ‘requirement to be flexible,’ says Becky Frankiewicz , president and COO of 万宝盛华 . Their recent data shows all industries are offering more remote or hybrid roles month-over-month. In the tech sector, 34% of open roles in May allowed for remote or hybrid flexibility — by June, that share reached 40%. Other sectors seeing big jumps in remote flexibility include finance, accounting and insurance jobs, where 36% of open roles say candidates will work remotely at least some of the time, and human resources, with 31% of all openings citing a remote or hybrid arrangement. Nationally, just 11% of open jobs on LinkedIn are remote, but they attracted close to 50% of total job applications as of May. Read Full Article.

Gen Z Preferences: 55% of 2023 Gen Z graduates prefer remote or hybrid work, reports Spiceworks . As a new batch of Gen Z graduates join the workforce, what working model will this digital-native generation prefer? And what are their expectations from organizations? 94% believe a positive IT onboarding experience is important, as well as access to modern tools to support their work. Chief marketing and strategy officer at NinjaOne , Shay Mowlem said: “Today’s college grads know just what they want in a job, including easy-to-use technology, flexibility, and the ability to work remotely and be digital nomads. Companies that want to attract and retain top new talent must take notice and provide a simple employee onboarding process and the technology workers need to do their jobs efficiently and effectively wherever they are.” Read Full Article.

Growing Headcount: Remote and hybrid workplaces are hiring people twice as fast as full-time office employers, reports Forbes . Over the last 12 months, fully flexible companies grew their headcount by 5.6%, hybrid companies by 4.1% and full time in-office by 2.6%. “In every single group, full-time in-office is lagging behind adding headcount. To me, this is pretty eye opening. It would seem like companies that are flexible are having an easier time hiring,” said Rob Sadow , Cofounder and CEO of Scoop , who conducted the Flex Index report. “Adding headcount isn’t a perfect proxy of whether a company is doing well, but growth in the economy tends to follow where the heads are getting added. The companies requiring fewer days in the office are doing better, it looks like,” at least when it comes to hiring. Read Full Article.

Changed Use of Space: Creating mixed-use environments proves most resilient, as companies rethink work habits, office and retail space. McKinsey Global Institute ’s comparison of the pandemic’s effect on New York’s Financial District and Lower East Side neighborhood showed mixed-use neighborhoods, with a diverse offering of office, residential and retail space fared the best. The Financial District, which consists of 80% office real estate, a large concentration of workers and an average home price of $1.5m saw people leave at more than two times the rate of Lower East Side, where the average home price is about $500,000 lower and just 7% of real estate is dedicated to office space. As office attendance stabilizes at 30% and shopping patterns move away from the office, “retailers need to rethink their model,” said Jan Mischke , a partner at the McKinsey Global Institute. “The demand for retail floorspace in 2030 will be lower than it was in 2019.” Read Full Article.

Penalizing WFH: A pay cut for working from home? Last week, former Victorian premier Jeff Kennett proposed the idea that remote workers should take a pay cut to compensate for those who don’t have the opportunity to work from home. He believes pay cuts are a way to promote productivity and address what he believes is an increasing social divide between those who can and those who are unable to work from home. “While it’s important to acknowledge the rising social divide and open a conversation about compensating frontline workers more adequately, penalizing individuals who work from home isn’t the answer,” said columnist, Victoria Devine. “By assuming working from home is a luxurious choice, we are overlooking the fact that many individuals rely on remote work to access employment opportunities that would have otherwise not been available to them, we are disregarding the significant disadvantages remote workers face in terms of promotions or other career advancement opportunities, and we are not acknowledging the real benefits of creating a better work-life balance for employees.” Read Full Article.