August 15, 2023
Tech firms are pulling back on all-remote job listings, according to research from JLL and Lightcast. The share of posts for fully remote positions declined to 18.6% in May from a post-pandemic peak of 24% last August.
This shift reflects the downshift in the tech industry in recent months, as layoffs have hit big and small firms across Silicon Valley. It also suggests that employers are exercising more negotiating power, as it is easier to backtrack on a promise of remote work than it is to offer it in the first place.
Remote job postings peaked at 12.4% in October before settling at 9.7% in May. The transition towards hybrid models, where employees spend two to three days in the office, coincides with a reduction in remote job opportunities, signaling increased employer bargaining power. This shift aligns with Katy Redmond, a JLL managing director, who emphasizes the strategic flexibility of in-office postings and expects a convergence between tech and traditional office job trends.
Redmond said that the pendulum is swinging back somewhat to at least some in-office work, as companies see the value of collaboration, team building, and in-person onboarding.
Redmond added that she does not think that remote work will go away entirely. She said that people will still be able to negotiate remote work at some of the companies shifting to more in-office postings, and that most companies still have flexibility and hybrid policies.
The sources for this piece include an article in CIODIVE.
