• Market Crumbs

Salesforce Says The 9-to-5 Workday Is Dead


Image via Salesforce

There's no denying that the pandemic has changed the way people work. Plenty has been written about what the future of work may look like.


Countless companies have said working from home will be permanent, others expect employees to return to the office and others will adopt a mixture of both.


While a company's work environment plans aren't exactly interesting, cloud-based software giant Salesforce made a bold statement earlier this week when providing an update on how the company plans to create a better workplace.


"As we enter a new year, we must continue to go forward with agility, creativity and a beginner's mind — and that includes how we cultivate our culture," Salesforce President and Chief People Officer Brent Hyder wrote in a blog post. "An immersive workspace is no longer limited to a desk in our Towers; the 9-to-5 workday is dead; and the employee experience is about more than ping-pong tables and snacks."


With the 9-to-5 workday becoming a thing of the past, Salesforce laid out how it will create a workplace that's more connected, creates a better work-life balance and promotes equality.


Using employee wellbeing surveys, Salesforce found that nearly half of its employees want to go to an office only a few times per month, while 80% of them want to maintain a connection to a physical space.


Salesforce will give employees three options for how, when and where they work. Employees who don't live near an office or require one will be able to permanently work from home, while employees who are in roles that require an office will remain office-based. The largest portion of Salesforce's workforce will work "flex," meaning they'll be in the office 1-3 days per week for team collaboration, customer meetings and presentations.


With the bulk of Salesforce's employees still set to step foot in an office, the company laid out how their offices will be reimagined for a hybrid workstyle. Salesforce said "gone are the days of a sea of desks" as offices will be transformed into breakout and collaboration spaces to make up for the lost human interaction while working from home.


Salesforce also announced it has created a taskforce to oversee its vaccine management plan. Similar to many other large companies, Salesforce is implementing health procedures such as temperature screenings before entry, requiring face coverings, frequent deep cleaning and manual contact tracing.


As companies reveal their plans for returning to normalcy, Salesforce's prediction that the 9-to-5 workday is dead may ultimately turn out to be accurate.


Leftover Crumbs

  • Grand Theft Auto sales are booming. Take-Two Interactive CEO Strauss Zelnick told CNBC's Jim Cramer that sales of Grand Theft Auto V, which was released in 2013, had their best year ever last year as the company sold about 20 million units. The hit video game has now sold 140 million units since its release, bringing the franchise's total sales to more than 335 million units. "We're grateful for the incredible work that Rockstar Games has done with Grand Theft Auto and Grand Theft Auto Online," Zelnick said. "It's absolutely amazing that Grand Theft Auto has sold more units in calendar 2020 than it did in any year since its original release in 2013. It's just extraordinary."

  • Higher rates continue to hit mortgage demand. Mortgage demand took another hit last week as the average contract interest rate for a 30-year fixed-rate mortgage jumped to 2.96% from 2.92%. Refinance applications dropped by 4% last week while mortgage applications to buy a home dropped by 5%. "Purchase applications cooled the first week of February, but homebuyers are still very active," MBA associate vice president of economic and industry forecasting Joel Kan said. "The average purchase loan size continued to increase, reaching another survey high of $402,200, as the higher-priced segment of the market continues to perform well."

  • eVTOL maker Archer to go public. Archer, a leader in the development of electric vertical takeoff and landing (eVTOL) aircraft, has agreed to go public through a merger with SPAC Atlas Crest Investment Corp. Archer, which will trade on the NYSE under the ticker ACHR, also announced United Airlines has invested in the company and placed an order for $1 billion worth of Archer's aircrafts. "We founded Archer to address the environmental and societal issues caused by road transportation and urban overloading," Archer co-founder and co-CEO Adam Goldstein said. "Through our all-electric aircraft, we are striving to curb carbon emissions, decrease traffic, and create the transportation networks of the future."

  • NYSE president has warning for lawmakers. NYSE President Stacey Cunningham wrote in a WSJ op-ed that the iconic exchange could leave New York if state lawmakers impose a transfer tax on stock sales. Cunningham and 25 other representatives of New York's securities industry sent a letter to state politicians warning that the consequences of the tax would be borne by investors. "The New York Stock Exchange belongs in New York. If Albany lawmakers get their way, however, the center of the global financial industry may need to find a new home," Cunningham

  • Toyota stocked up on semiconductors. As a semiconductor shortage affects automakers across the globe, Toyota raised its full-year profit forecast as it doesn't see the shortage immediately affecting output. Toyota said it has up to a four-month stockpile of chips as it has been providing short-term and long-term production volume plans to suppliers. "For the near term, we do not see any decrease in production volume due to the chip shortage, but we do see risks of a chip shortage," Chief Financial Officer Kenta Kon said.