Even though working from home is not a new concept, it took a worldwide pandemic to make remote work the default option for those who are capable of doing so. In light of the pandemic, everyone was given an opportunity to reevaluate how to do business and according to a McKinsey & Co. survey, fifty percent of workers say they don’t want to return to the office full time after working from home in March 2020.
Covid-19 has helped change the perception of working from home as something that is only temporary and fleeting in nature. Instead, employers now see it as a long-term trend that will only continue to grow in the coming years.
The following are some of the reasons why wfh will be around for a long time:
- Increased productivity and better focus
There is growing interest in hybrid virtual models that combine time spent working remotely with time spent in the office as organizations prepare for the post pandemic future. This sensible decision is the result of the pandemic’s positive impact on productivity.
Employees who participated in a McKinsey consumer survey in May indicated that working remotely was a more productive option. From April to May, the number of people who said they worked more productively went up by 45 percent as a result of their experience working remotely during the pandemic.
By eliminating the need to be physically co-located with coworkers, WFH increases employee autonomy and productivity by allowing them to work independently and on their own schedules, all while saving time spent commuting. In order to achieve the hybrid model, employers take advantage of the best of both worlds by designating certain types of tasks for home and others for the office and benefiting from the advantages of focused productivity from remote work and collaboration from in-person work. Tasks that require employees to avoid distractions are better suited to the workplace, while those that require creativity are better suited to the home, where they have more freedom to explore their own ideas.
- Surge in market competition
With more and more people choosing to work from home, the labor market is increasing. About 800 percent more people applied for remote project and program management positions; accounting and finance positions increased by 750 percent; and HR and legal positions increased by nearly 550 percent. HR departments now have to evolve quickly and accelerate their ability to be much more efficient in the hiring process.
- Improvement in diversity
There is a need to retain the very best talent, and those are humans from all walks of life, who live in all sorts of different places. It is established that teams with a wide range of backgrounds are more productive. As a result, their decisions are more sound. It is easier for them to represent their customers. All of the things that make healthier organizations are fueled by a diverse workforce.
- Progress in tech
It doesn’t matter what paradigms or platforms companies use, digital-first business models will be permanent in the coming years. Because of this, employers are quickly investing in technology and raising the bar on their strategy for how they are to participate and collaborate in the digital era. This then also influences employees to hone their discovery and experimentation skills to the next level.
There is no doubt that remote work is here to stay, but the real question is just how much of it will. Let’s hope that employers take the evidence into consideration and keep at least 60% to 80% of their work at home. Investment in digital infrastructure and the release of office space, as well as a structural transformation of cities, food services, commercial real estate and retail, will be necessary to achieve this. Having employees work outside the office necessitates a major overhaul of many business processes and policies, however, this is a risk that employers are willing to take to advance into the digital future.