As stay at home mandates came into effect throughout the country, companies scrambled to migrate their management teams and essential employees to home offices. Data tracked by the Labor Department revealed that higher income positions, which include management and technology jobs, were most likely shifted to home offices. Unfortunately, data also revealed that lower paid employees were the ones that did not have the privilege of transitioning to a home base, since most lower income jobs are found in sectors not supporting home based positions.
Analysts expect that many of the companies that transitioned employees home temporarily may eventually decide to make some of the transitions permanent. The shift in workplace dynamics that occurred in 2020 is considered substantial, producing lasting changes for years to come.
Source: Department of Labor
PlanRock offers financial planning tools, investment portfolios, various levels of advice, and full-service support. Please contact 800-677-6025 or go to www.PlanRock.com for more information about how we can help you reach your goals.
© PlanRock Wealth Management, LLC. The content above is available for use only by authorized subscribers, clients and where permissible as such. This content is not authorized for resale. Past performance does not guarantee future results. The sources we use are believed to be reliable, but their accuracy is not guaranteed.