- By: Staff
- June 29, 2022 June 29, 2022
- 15:00
The company is closing offices in Chicago, New York, and Washington D.C., as well as reducing its footprint in Phoenix, according to a post by Jeremy Stoppelman on the company’s website.
While the company has been reopening its offices over the last nine months, he said just one percent of their global workforce is in the office every day. The three offices we are closing had an average utilization of less than two per cent.
Best Buy is adopting a remote working approach.
According to Stoppelman, forcing employees back to the office is the wrong approach as it requires them to live close to an office, which could drive up their housing costs. He noted that returning to a physical office space could lead to a smaller and less diverse talent pool because of the restriction on hiring by geography.
He said that employees are spread across every state in the U.S. and four countries because of their location. A strong surge in candidate applications has been seen, with many noting that remote work is part of the reason they are drawn to the company and role.
According to a recent internal survey, a majority of employees would prefer to work remotely most or all of the time.
93 per cent of employees and managers said they can meet their goals remotely and 87 per cent of employees said remote work has made them more effective at work, according to a survey. The company reported a net profit of $39.7 million on record revenue of $1.03 billion in 2021, with revenue increasing 19 per cent in the first quarter.
How about remote, hybrid or in-office work? Staff at the marketing agency can decide.
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