20 Sep Remote Work: Is it here to stay?
Many people believe that remote work is essential for achieving personal stability and work-life balance, but numerous companies are contemplating a return to the traditional in-office setup. So, what should a company do? You want to stay competitive while ensuring continued workplace collaboration and accountability. What’s the right path forward?
To begin, let’s examine why candidates are drawn to remote work. The graphic below, from “The Future of Remote Work: Exploring the Trends of 2023” on LinkedIn, sheds light on their motivations:
When reviewing the graphic, it’s evident that factors such as cost, autonomy, and individuality are at the forefront of their interest. Many employers may have concerns that these factors could lead to reduced productivity, but that’s simply not the case. According to the article “Study: Teleworkers More Productive—Even When Sick” on shrm.org, the report revealed that “Of those who work remotely at least a few times per month, 77 percent reported greater productivity while working offsite; 30 percent said they accomplished more in less time, and 24 percent said they accomplished more in the same amount of time.” Beyond productivity concerns, there’s also a financial upside. Remote work can expand the talent pool for employers and reduce overhead costs related to office expenses.
So, what do the actual numbers say? Is the majority of work now remote or hybrid?
According to Forbes, “As of 2023, 12.7% of full-time employees work from home, while 28.2% work in a hybrid model.” This indicates that the majority of work is still office-based, but trends from the same article suggest a growing inclination toward remote work. While it may not be a universal requirement yet, many industries are transitioning to this model for compelling reasons. Taking into account the needs of new parents, family-related stressors, and an increasingly diverse workforce, relieving some of the pressures associated with the traditional 9-5 grind is crucial for longevity and inclusivity.