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Home / Business / Salary cuts, taxes, parenting: what another year of remote work will look like

Salary cuts, taxes, parenting: what another year of remote work will look like



The company expects to be in another out of reach of the work year, new issues related to compensation and benefits are plagued by managers.

CEOs, board members and corporate consultants said that discussions about the future of work, such as whether to reduce the salaries of employees leaving high-cost cities, are a priority for board meetings and senior management meetings in various industries.

One of the problems the company is trying to solve: when an employee moves to a new location while working remotely, who will bear the taxes? What is the most effective way to support working parents?

The company stated that there are major risks from employee happiness and productivity to wrong regulatory consequences.

After employees moved to new cities, states, and countries, the company and workers are working hard to resolve tax issues.

Facebook CEO Mark Zuckerberg told employees last year that starting in January, the company will use its virtual private network or VPN, which employees can use to access company systems to determine where they are. Engaged in taxation work.

A person familiar with the matter said that what is controversial is telling Facebook workers whether they have left places such as California and New York, so they should not pay state and local income taxes. Similarly, if an employee moves to another state or city where there is a local income tax, both the company and the worker may be liable for not paying these taxes.

Facebook is located on the campus in Menlo Park, California. The company decided not to track the location of its employees based on their VPN usage.


photo:

Qiu Jiefu/Associated Press

Facebook ultimately decided not to track the location of its employees based on their VPN usage. The company now says that when workers request and get approval for long-term remote work, they must confirm the new location with the company because this may affect their taxes. Facebook also said that if the labor costs of employees in certain remote areas are different from their previous locations, their salaries may change.

Ride-sharing service Lyft the company

Recently, Lyft told its American employees that staff must work in one of Lyft’s 36 registered states based on the location of Lyft’s corporate entity’s registration. According to internal emails reviewed by The Wall Street Journal, if employees live outside the state where Lyft is registered as a corporate entity, such as Maine or Wyoming, they must return to a state before March 31.

Similarly, if Lyft workers plan to live outside their state 60 days or more before the start of the Covid-19 pandemic, they must submit the form by March 31 so that the company can collect taxes in NSW-but According to the email, they can only submit this request once.

Companies such as the payment company Stripe Inc. have provided employees who leave San Francisco, New York or Seattle with the opportunity to receive a one-time bonus of $20,000 if they agree to a salary cut of up to 10%. Other companies (such as Microsoft Corp.) said that benefits and salaries may vary based on the company’s regional compensation level.

Jimmy Etheredge, chief executive officer of the consulting firm Accenture PLC in North America, said that if employees move from a city like San Francisco to Texas, many Fortune 500 companies in the industry are considering potential Salary changes.

He said: “Almost all people use the cost of living as compensation.” “When they are thinking about future jobs, they may involve more remote work, which may involve talents in places they didn’t necessarily have before, so they Will seek to make adjustments.”

With the exodus of skilled technical talent from Silicon Valley, well-known high-tech companies are accepting remote work. The Wall Street Journal studied what it means for innovation and productivity, and what companies are taking to manage this impact.

Regardless of the zip code, other technology companies continue to pay people the same fees. Spotify Technology SA, an audio streaming company based in Sweden, recently told its employees (known as “band members”) that they can work anywhere in their designated country and maintain the same salary.

“When you move, we will not change it,” said Katarina Berg, Spotify’s chief human resources officer. The company has approximately 6,500 full-time employees, and will adopt a national salary range for each job based on the salary of competing companies, determined by the prevailing salary in high-cost cities such as San Francisco or New York, where many of Spotify’s workers are based.

Long-term remote spelling is putting pressure on companies to provide parents with more childcare assistance, while at the same time being careful not to anger workers who have no dependents.

Some companies provide Covid-related allowances that workers can use for everything from childcare to fitness equipment. Technology company Palo Alto Networks Inc. now offers workers a $1,000 allowance, which can be applied to a range of options. Parents can use the money to provide tutoring services for their children, while others can use it to buy Peloton bicycles.

Share your opinion

When we enter another year of remote work, what is the most important thing in your mind? Join the conversation below.

In a blog post announcing the benefits, Nikesh Arora, CEO of Palo Alto Network, said: “No two employees are the same in the support they need.”

Others offer special treatment to parents and caregivers. Bank of America has provided eligible employees (including employees working in its branches) with a daily childcare fee of up to $100. The company also increased the number of days employees use alternate child or adult care facilities from 40 days to 50 days per year.

For workers accustomed to frequent business trips before the Covid-19 era, another question is emerging: after the pandemic is over, will their customers want visitors?

Brad Preber, chief executive of Grant Thornton LLP, one of the largest tax and accounting companies, said that some clients are beginning to say that they want work to be virtualized. He said this is because remote work works well, and because personal visits by accountants and consultants can cause damage, especially when many offices open less than 100% of their employees.

He said that for those road warriors who thrive on near-constant business trips, this change may be disappointing.

Preber said: “I also miss contact with humans, but the rules of the game have changed.”

Telecommuting and new office

Write to Chip Cutter’s email address is chip.cutter@wsj.com, and Emily Glazer’s email address is emily.glazer@wsj.com

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