Texas and Florida could become the next business hubs as employers look to flee San Francisco and New York City
- A quarter of chief executives are considering moving their business operations to a cheaper location, a new poll said.
- States like Texas and Florida have become viable business hubs, as employers seek to flee cities with high costs of living.
- Work-from-home options are most attractive to larger companies.
One in four business owners are considering moving their operations to a cheaper location, according to a poll of 150 C-Suite executives released Tuesday.
Most executives were considering moving their business operations to Texas, Florida, or Ohio -- states generally known for their low costs of living and lower taxes.
Over 30 major financial institutions, including Goldman Sachs Group have been investigating properties in Florida and tech workers living in the
Most companies, however, were unwilling to commit to fully remote work, with 43% prioritizing splitting its workforce between people working remotely and on-site, according to the survey.Companies were also hesitant to return to work entirely in-person, with less than 15% wanting to return to work fully on-site after COVID-19 restrictions lift, according to the poll. A company's hesitancy to commit to entirely to remote operations could be fueled by the potential technical difficulties of working from home, as WiFi acess and technical understanding can vary between employees. Monitoring an employee's workload and communicating on a daily basis can also be more difficult in a remote work space.
The survey found that 34% of executives said remote work was hindering their employee's productivity. Another 45% said their company's productivity was inhibited by social distancing measures.
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