Zillow CEO Champions Work From Home: We See 'Four Times The Number Of Job Applicants'

Zillow Group Inc.'s (NASDAQ: Z) CEO, Jeremy Wacksman, has been a vocal advocate for the company's work-from-home policy, which has been in place since the onset of the COVID-19 pandemic. In a recent interview with Inman, a portfolio company of Beringer Holdings, Wacksman praised the company's "CloudHQ" model, stating that it has been a "huge benefit" for Zillow. The shift to remote work has not only improved employee productivity and engagement but has also led to a significant increase in job applicants.

Zillow's work-from-home policy has been a key factor in attracting top talent from across the country. Wacksman noted that the company has seen a fourfold increase in job applicants since the pandemic began, indicating that the remote work model has been successful in expanding the company's talent pool. This trend is likely to continue, as Zillow has announced plans to hire more than 2,000 employees nationwide in 2021, with the majority of new roles categorized as remote or hybrid positions.

The company's commitment to remote work has also been a key retention tool. Zillow's employee engagement scores have reached all-time highs since the implementation of the remote work model, indicating that employees appreciate the greater flexibility and work-life balance that remote work offers. This flexibility has been particularly beneficial for employees with families, as it allows them to pick up their children from school or attend other personal commitments without having to take time off from work.

Zillow's financial results have also been strong since the implementation of the remote work policy. The company reported a quarterly revenue of $554 million for the last three months of 2024, beating Wall Street expectations. This suggests that the remote work model has not negatively impacted the company's productivity or financial performance.



Zillow's approach to remote work stands out among the Seattle area's top companies. While Amazon and JPMorgan have implemented strict return-to-office policies, Zillow has taken the opposite approach, embracing remote work and reducing its office space by 73% since adopting its CloudHQ model. This approach has allowed Zillow to cut costs and generate sublease income, with total leasing costs dropping from $54 million in 2022 to $34 million last year and expected to decrease further to $18 million by 2029.

Zillow's commitment to remote work has also been a key factor in attracting and retaining diverse talent. By offering a distributed workforce model, the company has expanded its talent pool to include individuals from all 50 states, leading to a more diverse and inclusive work environment. To ensure inclusivity and belonging in its distributed workforce, Zillow has taken several steps, such as offering flexible work arrangements, implementing inclusive hiring practices, and creating employee affinity groups and charitable initiatives.

In conclusion, Zillow's work-from-home policy has been a key factor in attracting top talent, improving employee productivity and engagement, and cutting costs. The company's commitment to remote work has also been a key retention tool and has contributed to its strong financial performance. As Zillow continues to expand its workforce and embrace a distributed workforce model, it is likely to remain a leader in the real estate industry and a desirable place to work for employees seeking flexibility and work-life balance.