CoStar Announces Insane Incentives to Get Vaccinated Employees Back in the Office

May 4, 2021
Share this Post: 

Since the pandemic, many companies have allowed their employees to work from home. Some go as far as to promise the continued offer to work remotely, as it doesn’t have any impact on employee work ethic. Zillow is one of the companies to go public with such a stance. 

CoStar is taking a different approach. The real estate giant is promising brand-new Teslas to its vaccinated employees who are willing to come back to the office to continue in-person work. Furthermore, the company is promising incentives like $10,000 in cash, an all-expenses-paid trip to Barbados, and smaller prizes like gift cards. 

Seems excessive when remote work isn’t exactly a new concept or even a bad option for any company. However, CoStar Group CEO Andrew Florance stands by this decision. He recently explained to The Wallstreet Journal:

“Yes, this is a lot of money, but in the context of a multibillion-dollar company with thousands of staff and hundreds of offices, it’s a drop in the bucket. So you can have some fun, you can incentivize people to do the right thing.”

This isn’t the first time during the pandemic that CoStar has pulled a stunt like this. Earlier, the company ran a rewards program corresponding to vaccine rollouts to get its employees vaccinated as quickly as possible. 

Florance reported that since enacting the incentives, office occupancy has gone up from 4% to 20%. 

Florance said

“We are going to do interesting and creative things until the workplace is settled down and until we’ve adjusted to our new reality. And I think that will be months and months and months.”

May 4, 2021
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Australia Reports Strong Revenue Growth for FY21, Australia’s market-leading rental listings marketplace, has reported revenue growth of 26% in its latest financial report to shareholders for...

Read More
Norban Suburban Swedish Houses
A Model for Our Times? We Speak to Adrian Miller, Co-founder of Swedish Marketplace-Brokerage Norban

Sweden is not a market we tend to hear a lot about in the real estate marketing industry. It has...

Read More
Costar Group
Costar Posts Record Revenue in Q3 as It Continues to Make Moves in Residential

American commercial real estate giant and pretender to Zillow's residential throne released its results for the third quarter of the...

Read More
Proptech Group Results Generic
PropTech Group Shows Impressive Growth in Q1 Figures

The ASX-listed property technology group The PropTech Group has released figures for Q1 of its FY22 operations. Headline figures from...

Read More

Popular News