employees who work remotely report higher job satisfaction and lower intent to leave. But once we control for compensation, occupation, demographics, and especially workplace characteristics such as pay transparency, development opportunities, and feeling appreciated, the “remote premium” largely disappears.
Two findings stand out:
1) Workplace characteristics dominate. A one standard deviation increase in feeling appreciated at work is associated with a 0.31 standard deviation increase in job satisfaction. Remote work effects are economically small by comparison.
2) Remote work and retention move in opposite directions once we account for culture. Fully or mostly remote employees are more likely to report plans to seek a new job within six months, conditional on workplace characteristics.
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