Remote work and hiring for remote positions have been increasing in popularity over the last several years. And now, due to the pandemic, remote work is widespread, benefiting employers and creatives. Here’s what we see in remote work and employment trends and what you can expect for 2020 and beyond.
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Growth in remote work
According to Flexjobs, over the last five years, remote work has increased by 44%. Over the past ten years, remote positions have increased by 91%, indicating a relatively new workforce trend.
In one month, COVID-19 came along and changed the outlook of remote work from optional to necessary, accelerating the already growing trend. Large tech companies, such as Google and Facebook, were among the first to send employees home when COVID-19 hit the U.S. Now, they’ve told their employees to expect to work remotely until 2021. Where the big tech companies go, others are sure to follow.
With the nation and the world working remotely, hiring for remote positions is more commonplace. According to Global Workplace Analytics, 56% of the workforce has a job that can be done at least partially from home. And 80% of employees want to work from home at least some of the time.
If work can be done anywhere, and people want to work out of their homes, hiring more remote employees just makes sense. There are many benefits to telecommuting for employees and employers, which may cause us all to wonder why we haven’t adopted it to this scale before now?
Remote positions benefits for employers
For employers, remote work opens an entirely new talent pool. Some companies have already been using it to entice candidates for hard to fill jobs. Companies can cast a wider net geographically and attract more diverse candidates with the skills they need.
When hiring remotely, employers can test candidates’ skill levels through online assessments and case studies, enabling them to sift through unqualified candidates much easier to find the right fit. Employees who work remotely are more loyal, therefore increasing a company’s retention rates. A survey conducted by Owl Labs shows remote workers are 13% more likely to stay in their roles for the next five years than those who work on-site.
Not only can companies retain their employees by hiring remote workers, but they can save money due to reduced space rentals, utility bills, and maintenance costs. On top of space savings, a third of survey respondents said they would take up to a 5% pay cut to work remotely.
Remote workers tend to work longer hours not because they have to but because they want to, making them more productive and engaged than on-site workers. 51% of remote work respondents said they work over 40 hours a week to support their team. They also take less paid vacation time because they can balance life and work more efficiently from home.
Companies can expect that they will get loyal, hardworking employees when they hire for remote positions and reduce their overhead costs.
Remote positions benefits for employees
Telecommuting may have its challenges, such as isolation and the inability to unplug. Still, overall, employees who work from home are happier, healthier, and more satisfied with their work and home lives. 8 out of 10 responders to the Owl Labs survey said that they feel less stressed working remotely.
The alleviation of stress is mainly from the ability to have a flexible schedule. Remote workers achieve more work-life balance because they can work in between taking care of things at home.
Not bound by geography, remote work expands career opportunities for creatives to advance their career without relocating. Those who live in more rural areas or want to stay close to family and climb the career ladder can experience the best of both worlds.
Remote workers save money, too. Eating lunch at home instead of going out to lunch with coworkers means more money in the budget for other expenses. They also spend less on commuting costs, child care, and professional attire. These costs add up to significant savings over a year.
There are several reasons individuals who telecommute love it; however, the top three reasons are more productivity and focus, better work-life balance, and less stress.
The future of remote employment and work
Entrepreneur.com discovered in a survey of company founders, 70% said after their offices reopen, they will allow some or all employees to continue to work from home.
With managers used to having remote employees, they’ll be more apt to hire for remote positions, opening more opportunities for those who aren’t local. If people can truly work from anywhere, how could it change the makeup of cities and the U.S.?
Working outside the walls of an office could also fuel more creativity and innovation. Inspiration often comes from working in different spaces and being less stressed.
As today’s children are growing up with virtual learning, they will be accustomed to remoting work once they enter the workforce. Remote work will no longer be a trend but a way of life.
Everyone wins with remote jobs
Thanks to technology, remote work is possible and offers benefits for all. COVID-19 has transformed the way people think about work and where it takes place. Remote positions give creatives more freedom in their personal lives and careers. And employers benefit from quality hires that are more likely to stay with their organization, at the same time reducing costs.
As business leaders prepare for a different workplace, they will need to invest in remote work resources and increase their virtual communication and culture. We should all get used to communicating and working remotely because of the opportunities it provides.
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