Remote work is the ‘new normal’ since businesses have transitioned to remote operations or have completely closed for the duration of COVID-19. During 2020, the remote work culture has projected forward due to necessity, and companies that made the transition swiftly have also reaped the rewards of continual revenue during this period.
While working remotely can be challenging for some, the positive experiences from doing so may be hard to leave behind once work commuting returns. 98% of American workers report they would like to work from home indefinitely since having to do so since the start of COVID-19. What are the things people like about working from home?
According to the U.S. Census Bureau, nearly one-third of the U.S. workforce, and half of “information workers” are currently able to work from home. This is great news for our recovering economy and the businesses that were able to transition their workers to remote work.
While managers may have a concern that productivity, focus, and team collaboration may suffer, 56% of the U.S. workforce holds a job that is compatible with remote work. Additionally, research has found that the cost savings to companies are about $11,000 per year for every person that works remotely half of the time.
Compatible, productive jobs through remote work and cost savings to companies leads GlobalWorkplaceAnalytics.com to predict that the longer people are required to work from home, the greater the remote work adoption. When managers work from home, they realize the benefits it provides to them personally, and become increasingly aware of the positive impacts on their employees.
“No matter where you work, it’s important to create an environment that helps you focus. This is especially critical when working from home; maintaining a clear division between work and your home life will make it easier to show up fully for both.” –Marie Kondo, How to Work From Home…With Joy.
Regardless if we are on the path to recovery from COVID-19 or not, being able to work from the safety of one’s home is a valuable benefit that hopefully continues after the pandemic is over.
First Fruits Asset Management has been in the financial services profession since 2007. We work together to create a personalized financial plan. We then review and revise the plan as situations and/or goals change over time. Contact us today to learn more about how we can build a partnership with you today.