The Work From Home Era: Trends That Will Change Work As We Know It
Due to the COVID-19 pandemic, 2020 saw a surge of interest towards telecommuting. To prevent infection, companies started letting employees work from home. That has allowed companies to see how viable this type of working setup can be. Many of them are also considering doing this permanently.
One of the most significant benefits is that companies can cut on costs of office upkeep. Employees are also seeing the advantages of being in a less stressful and relaxing environment that is their home.
On the other hand, because of the pandemic, many businesses closed and employees got laid off. These same people are now leaving their hometowns to get a new job to avoid getting crushed by debt.
Meanwhile, businesses around the world are battling this trend by becoming more flexible with their telecommuting policies. This surge has been leading to trends that will likely affect how the working world operates from here on. Here are the developments from this era far beyond 2021.
1. Work From Home Options Will Increase Dramatically
With remote work getting more exposure this year, employees have discovered how great it is as a permanent structure. In a survey held by LinkedIn, 82% of workers said that they wanted to work from home. More than half of those said they preferred being at home for at least three days a week.
With many companies also seeing its viability, more industries will be getting into this kind of setup. The survey again proves that there is a significant demand for it.
In the past, companies only allowed telecommuting to employees involved in writing, teaching, graphic designing, programming, and digital marketing.
This year has already seen the customer service and tech industries get into remote work arrangements. Other industries are likely to follow.
2. Coworking Spaces Will Be On The Rise
While coworking spaces have been in existence for years now, there will be a significant increase in their presence from here on out. Back then, these spaces were made to help with startups, niche businesses, and those who wanted better working environments outside of their homes.
Now, these spaces will likely be used as a gathering place for some businesses. Others just don’t have the luxury of a quiet place at home, so a coworking space becomes a better option. There are some added benefits to this setup, too. Coworking spaces often have an ambiance that replicates the working environment minus all the pressure associated with it.
According to data by the CBRE, the last recession saw a 600% increase in the coworking space industry. While it faltered in 2019, experts predicted that a recession would see them rise once more.
3. An Improvement In Diversity
Remote work has broken down the barrier that is located. Now companies can hire from different states/regions, and some are even getting part of their workforce from other countries. With a larger pool to choose from, companies will prioritize workers who can offer them the best.
This means that prejudices against race, gender, religion, or political beliefs won’t matter as much anymore. This also falls in line with how many companies have been shifting their policies towards becoming more diverse and inclusive. As long as the candidate has the most substantial potential for the work offered, they will be offered the job.
4. Higher Wages, Lower Turnovers, Higher Productivity
Employees have been saving a ton, thanks to fewer costs when it comes to work-related expenses. They don’t have to pay to commute and to eat out, among other things. Even the small things add up to significant savings. Even companies are also saving up. Global Workplace Analytics reported that a business saves an average of $11,000 annually per employee that’s telecommuting. We could foresee an increase in wages as a result of these savings.
With employees also preferring a work from home situation, they become a lot more satisfied. According to Owl Labs, US companies that allow remote working have had a 25% lower employee turnover rate. Companies who advertise remote work may see an influx of applicants, many of which will stay with the company long-term.
With more freedom with their schedule and the lack of the usual work-related stress, remote employees are actually more productive. CoSo Cloud has gathered that 77% of remote employees are more productive when working from home. That’s almost double the work that can be done in a day compared to the norm.
A Company’s Considerations: Should We Implement A Remote Work Setup?
The questions that companies have with working remotely are often the same. They are concerned with how being in a home environment may negatively affect productivity.
As an aside, many startup Internet service providers are cropping up because of the surge of online work and telecommuting. And if this trend goes on, these ISPs will be direly needed and their performance will be greatly tested. Due to those, people and ISPs are anticipating Starlink, a chain of satellites owned by SpaceX that will provide internet access.
Going back to the topic, having a work-home environment proves more of a benefit for both parties. Employees get that much needed work-life balance by being able to spend more time at home. This removes the restriction of fixed working hours since employees can do things at their own pace. For companies, it’s about having more access to a broader workforce and saving up on costs.
The challenge would be with how companies will adjust their protocols to fit remote work operations. That will mean using new software and digital tools to help manage workflow. The good thing about this is that since work from home is not a new thing. There is an abundance of tools available online. These tools will help reduce the need to supervise or micromanage.
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