A British law firm has decided to offer its employees the option to work from home full-time, but only on the condition that they receive a 20% reduction in salary.
London-based law firm Stephenson Harwood has also offered its employees the option of a hybrid model, working remotely for up to two days for the same salary.
A spokesman for Stephenson Harwood said this was “consistent with the approach taken by many law firms in the city”.
“Like them, we see value in being in the office together regularly, while also being able to provide flexibility to our employees,” they said.
The two hybrid and full-time telecommuting options went into effect this month.
Stephenson Harwood has been looking to hire people for a small number of roles living outside of London during the ongoing coronavirus pandemic.
This enabled the company to attract candidates that would not otherwise be available to them, the spokesperson said. But they noted that the job packages, including salaries, are different from those offered to its employees who work regularly from its London office.
Stephenson-Harewood has since decided to open up this option to fully remote work to its existing employees.
According to Stephenson Harwood website, employees who join the company under a training contract in London are paid £43,000 (US$53,835) for their first year, rising to £47,000 in the second year. The company is currently offering a stipend of £75,000 to a newly qualified solicitor.
There is still debate about the merits of each business model in the wake of the pandemic, although consensus appears to be landing on the idea that A hybrid workweek provides the right balance for many.
data from UK Office for National Statisticsreleased in June last year, showed that among adults working from home at the time, 85% wanted to use a hybrid approach in the future.
However, the UK has been grappling with a cost-of-living crisis in recent months, due to rising inflation, driven in part by the unprovoked Russian invasion of Ukraine.
The increased costs include rising train prices 3.8% in MarchIt is said to be the biggest jump in nine years. However, the jump in train prices was based on an inflation gauge from last year.
ONS data showed that a file Prices of food and non-alcoholic beverages It rose 5.9% in March from the previous year, the largest jump since 2011.
So, savings on the costs of both commuting and eating out while working in the office can become a bigger consideration for workers, as High energy bills Put more pressure on finances.
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