The work-from-home movement was headed our way long before 2020 forced companies to rethink the workplace. Now, it has reshaped the future of our global workforce.
Recent reports have found that a large majority – as much as 91% – of those who are currently working from home due to the pandemic wish to continue to do so, at least part of the time.
Without question, the model offers notable benefits to companies and their employees. Organizations can reduce or eliminate real estate costs, hire and use talent globally, and enjoy productivity gains. Employees get geographic flexibility (that is, live where they prefer to), eliminate commutes, and enjoy a better work-life balance.
The workforce has proven that they can perform well while being entirely remote. Now we face new questions: Are all-remote or majority-remote organizations the future of knowledge work? Is work-from-anywhere here to stay?
Why Employees are Enamored with Remote Work
Ask 10 employees what they love about remote work and you’ll likely get 10 different answers. From a zero-minute commute to more flexible over the work environment, many employees now understand that work is a thing you do, not a place you go to. They like the idea of reallocating the time they would have spent getting ready for work and commuting to exercising, preparing healthy meals, or enjoying more family time.
Millennials, currently the largest generation of the workforce, are excited by the idea of traveling the world while still employed and building their careers. Living a digital nomad lifestyle is a common goal, one that allows people to find a new level of personal fulfillment while also enjoying career growth and financial stability.
If remote work is here to stay, employees will have more opportunities to try the nomadic lifestyle – or simply make desirable adjustments domestically.
The Benefits for Employers are Clear, Too
Work-from-anywhere isn’t a one-sided perk. Employers are seeing multiple benefits, too, namely in boosting their own competitive advantage.
With a talent on the cloud model, companies can source the best talent from anywhere in the world, not just in their local market. This allows them to scale their talent force without taking on the overhead of on-site employees.
And speaking of overhead, companies are finding that they may be able to pursue reducing office spaces as a cost-cutting strategy. There’s less of a need for square footage with a remote workforce. In some cases, companies may be able to use a virtual office instead and eliminate the brick-and-mortar setup altogether.
What’s more, employees report being more productive when they’re allowed the freedom to choose their work style. When employees are more productive and less stressed, companies directly benefit. Their employees are happy and fulfilled, feel supported, and are more likely to remain with the company.
The Future of Talent on the Cloud
The future is exciting and teeming with opportunities for small businesses and start-ups to enjoy expansive growth with talented staff while keeping costs low. Some experts have warned that if enough companies maintain the talent-on-the-cloud model, it will force other companies to follow suit as a means to increase retention. The best approach is to speak with your current employees and give them a choice between remaining at home and returning to the office. Most will enjoy a split of time and your organization will benefit as a result.
For more insights on how you can successfully capitalize on finding the best remote talent for your business, head back to our blogs.