Insider Today: The fight for remote jobs

September 26, 2023 • 5 min read

with Dan DeFrancesco

Hiya! One of the major stories of the past few days has been the budding relationship between Taylor Swift and NFL star Travis Kelce. From how Kelce’s salary compares to Swift’s concert ticket sales to a guide to football (Taylor’s Version) to why one local was disappointed in the duo’s date spot, we’ve got you covered.  

If you’re reading this on your way into the office, you’re not alone. Jobs that are fully remote are tough to come by these days. As a result, the competition to nab a remote job is heating up. More on that in today’s big story. 

What’s on deck:

But first, I’m not making it into the office today.

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The big story

Out of office

The hottest ticket in the job market? A remote role.

As the push to get workers back in the office ramps up, companies willing to let their employees WFH are getting plenty of attention. Insider’s Aki Ito has a story on the rush of applicants for remote jobs.

How sought after are remote jobs? Roles listed as fully remote only made up 9% of job postings on LinkedIn in August, but they attracted almost half of all the applications on the site, Aki writes. 

What’s even more fascinating is how quickly this occurred, Aki told me. The market for remote jobs went from being somewhat robust — peaking at 21% of LinkedIn job listings in March 2022 — to extremely tight in the blink of an eye. 

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There are few topics in corporate America as polarizing as remote work. 

Regardless of where you fall on the spectrum — in-person, hybrid, or remote — chances are you feel strongly that your way is the best way. But the reality, as is often the case, isn’t as concrete.

In a range of studies highlighted in a research note from Goldman Sachs at the end of August, the productivity effects of remote work ranged from very bad (-19%) to very good (+13%).

Such a wide spectrum shows there is no one-size-fits-all approach. Some people work better remotely, while others need to be in the office. 

But nuance is a tricky thing with big companies. When creating policies for a workforce that numbers in the tens of thousands, it’s a lot easier to take blanket stances on where employees can work. 

Lengthy, expensive office leases might also discourage companies from embracing remote work. 

And since the data seems so inconclusive, why would a company even make the effort to enable some workers to be remote? After all, decades of evidence before the pandemic showed people in the office five days a week worked fine.

As Aki’s story points out, that type of rationale from larger companies has created an opportunity for those willing to support remote work. Of course, that decision comes with risks. 

A company’s commitment to remote work might not be forever, even if employees view it that way. As a result, a change of heart by the company puts it in the difficult spot of pulling people back to an office they never intended to visit.

3 things in

Markets

🔔 Before the opening bell: US stock futures traded flat this morning after major indexes ended a string of losses.

Leonardo Munoz/VIEWpress

1. The risk of a recession is still very real. Despite all the talk of a soft landing, the US economy could still go sideways. A weakening labor market and consumer headwinds are among the issues that could send things spiraling.

2. So about that government shutdown... Since we’re talking about economic risks, a potential government shutdown could be around the corner. Market experts detailed its impact on the stock market and how long it’ll take to recover.

3. China’s economy takes another blow. Monday marked a tough day for the country’s property stocks. Embattled developer Evergrande’s stock fell as much as 25% after it announced it was unable to issue new debt.

3 things in

Tech

Kimberly White/Getty Images for TechCrunch

1. Fit check: The best and most daring looks from TechCrunch Disrupt. The tech conference’s fashion has evolved from the days of hoodies and ill-fitting jeans. This year, attendees sported tailored suits, cashmere, and other stylish looks.

2. Hello, it’s me (ChatGPT) — the tech can talk back to you with an eerily human-like voice. Paying users of the service can pick from five different voices. They were developed by working with professional voice actors and allow you to “engage in a back-and-forth conversation.”

3. Amazon is positioned to invest $4 billion into a leading ChatGPT competitor. Anthropic calls itself an “AI safety and research company.” After the major investment, Anthropic switched from using Google’s services to Amazon’s, highlighting how the AI wars are still heating up.

3 things in

Business

Lindsey Nicholson/UCG/Universal Images Group via Getty Images

1. EY chief economist warns of three looming threats that could make Americans spend less. Inflation and higher interest rates are among the factors that could lead to an economic slowdown.

2. Employees are saying no to “mandatory fun.” Some workers say they stopped feeling bad about skipping happy hours, even if it comes at the cost of their careers. A viral debate highlighted how people often feel pressured to socialize with their coworkers.

3. Costco is now offering low-cost healthcare to its members. It’s through a new partnership with Google-backed online telehealth company Sesame. Costco members would pay $29 for virtual doctor’s visits and receive discounts on other services.

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What's happening today

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The Insider Today team

Dan DeFrancesco, senior editor and anchor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Hallam Bullock, editor, in London. Lisa Ryan, executive editor, in New York City.

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