Senior Vox correspondent Rani Molla discusses the shift in work policies in the tech industry. As Big Tech firms like Google and Apple are retracting from their previously generous remote work options due to economic pressures, smaller tech companies are stepping in, offering full remote work opportunities and thus, becoming more appealing to a vast talent pool.
- As stock prices have fallen, Big Tech companies have been reducing on-site perks and recalling employees to the office, generally requesting three days of office attendance per week.
- Smaller tech companies, in contrast, are more inclined to permit full remote work, with 81% of companies with fewer than 5,000 employees allowing remote work or exclusively offering remote options. Only 26% of larger companies (with over 25,000 employees) offer the same flexibility.
- The ability to work remotely is seen as a significant benefit, especially in the tech industry. This flexibility is being used by smaller tech companies to attract talent and to present themselves as progressive.
- The ability to work remotely has allowed smaller tech firms to have better access to talent than if they required office attendance, compensating for their inability to compete with larger companies in terms of salary.
- Larger tech companies are portraying their recall to the office as a sign of maturity and responsibility, aligning themselves with traditional non-tech corporations. However, the decision to revert to office-based work may overlook evidence suggesting that flexibility in work location boosts employee happiness, productivity, and innovation.