Global Trends and a Teardown of the Existing Work from Home Policies
A Global Workplace Analytics study shows a 140% rise in non-self-employed remote work, a ten times faster increase than the rest. Before the pandemic, only 5% of the employees (7.6 Mn) worked most of the time remotely in the USA.
One year into remote work, we now know the limitations and the benefits. We are putting together these numbers taken with the help of our analysts and from other sources.
When COVID hit, 24% (152 Mn), including part-time employees, worked remotely. Post-COVID, 60 to 65% of employees are working remotely full-time. Though remote work is not a pandemic-induced phenomenon, remote work will profoundly impact professional and personal lives in the 2020s, mainly for the highly educated and well-paid minority workforce.
How has remote work transformed companies?
Remote work has added new jobs. Companies are hiring executives to lead the virtual work experience by hiring executives to be advocates for virtual workers and think broadly about a lasting remote future. For example, Facebook has a post called Director, Remote Work.
86% of companies in the USA have the policy to deal with coronavirus-related absences. By November 2020, 85% of the American companies are ‘hybrid, allowing,’ which means they are allowed some form of work from home.
Numbers indicating a few work-from-home trends
Remote work is becoming a sought-after benefit for people. Most USA companies are including remote or hybrid remote workforce, increased the use of freelancers, and growing reliance on A.I. and M.L. tools to manage H.R. related and other vital functions.
33% of American employees would change jobs for more flexible work as per a Gallup study. Estimates from Flexjobs indicate that some people are willing to give up a vacation in exchange for flexible work options. The number of people in the U.K. working from home increased from 21% to 24% in November 2020.
Examples of a few remote work policy
- Capital One Financial Corporation announced permanent work-from-home for its U.S. call center employees.
- Ford announced that an estimated 32,000 employees throughout North America would remain working from home through June 2021.
- Indeed announced that 10,000 employees to remain until July 2021, including making the arrangement more permanent on a case-by-case basis.
- Though American Express is reopening its offices in phases, it extended its temporary work policy until the end of June 2021.
- Microsoft announced in 2020 that employees opting for permanent remote work will give up their assigned office space but can use touchdown space available at their offices. In March 2021, they announced that their entire workforce would return to offices in phases.
- Facebook predicts that half of its employees could be remote within a decade.
- Google’s internal survey exploring flexible hybrid models of in-person and remote work shows that 62% of employees want to return to the office for a few days.
Remote work policies from the rest of the world
Here are some numbers from the rest of the world:
- European companies have inculcated fully remote, hybrid remote, hybrid remote by exception, and on-site.
- Middle Eastern countries have changed visa policies to keep their business running.
- In Italy, UniCredit SpA plans to 40% of work done remotely henceforth.
- Switzerland’s UBS Group AG may allow employees to work remotely about a third of the time.
- Spotify declared that their employees worldwide would work remotely until 2021 or until their offices open as per city-by-city guidelines.
- Germany is working on making remote work a legal right. Ireland will draft guidelines following a public consultation.
- France’s 2017 law limits the extent to which employees are obliged to answer phone calls and emails outside the office.
- Spain regulates that Remote Work Employers must formalize remote work arrangements in writing, adhering to the new Royal Decree-Law’s specific requirements.
- Bahrain firms report the highest rate of remote work plans at 38%, followed by Qatar, UAE, and Kuwait at 37%.
- 30% of Saudi Arabian firms indicate work-from-home plan, while Oman businesses registered the lowest remote work number at 18%.
- With 45% of South Africans working remotely, companies re-evaluate the need for an office space. However, 33% of them find that unreliable internet is an obstacle to remote work. Contrarily, only 6% of sub-Saharan Africans are in occupations allowing remote work.
- Dubai’s Virtual Working Program allows foreign professionals, entrepreneurs, and business owners with a minimum income of USD 5,000 per month to work remotely for up to one year.
- While India has burgeoning high-tech and financial services industries, its retail and agriculture sectors employ most of its 464 Mn people, which cannot be done in their home.
Are companies benefiting from engaging with remote workers?
On average, remote workers save up to USD 7,000 per year due to significant savings in transportation, food, clothing, and childcare. On the other hand, companies are saving the cost of maintaining offices because they have to pay for rent, water, electricity, property insurance, and office supplies. Global Workplace Analytics has estimated that companies save at least USD 11,000 per employee with remote work.
Remote work is great for the environment too. The USA could save up to 640 million barrels of oil, reducing greenhouse gas emissions by 54 million tons each year.
As remote working grows in popularity, experts are saying that the 8-hour workday may become history. As engaging remote workers are productive and engaging, companies can accomplish more in less time. There are employees already who are setting their 8-hour work hours in different chunks.
Statistics leave little doubt about telecommuting, and the hybrid model is likely to persist, mainly for the highly educated, well-paid minority workforce. Besides, tasks and activities, not occupations, determines the potential for remote work. While there are challenges, the positives outweigh the negatives for employees and employees alike.
Draup’s real-time analysis and trend predictions enable H.R. leaders to reimagine the job market. The technology’s impact on each role can be assessed through our internal indices, providing an upper hand to talent managers while redefining technology’s role in the workloads. It aids users in analyzing real-time signals about trends associated with technology adoption, talent intelligence, and skill analysis at a company and segment level.