7 Remote Work Trends
With the number of employees working remotely increasing rapidly, the adoption of remote work policies to maintain business continuity and support employee health continues to be an area of focus for business leaders.
Remote work was on the rise before COVID-19, and many more businesses rushed to pivot their operations and employees to remote work in the wake of the pandemic. As the number of employees working from home increased exponentially, business leaders focused their efforts on the adoption of remote work policies to maintain business continuity, support employee health and protect sensitive data
Being quick to adapt to changing conditions and get teams up and running with remote work has been the key to success for some businesses. Owl Labs 2020 State of Remote Work Report takes an in-depth look at how employers and employees are adapting to telework in a post-COVID-19 era. Let’s explore those trends in remote work and their potential to shape various aspects of business for the long term.
1. Significant shift to remote work.
For industries where remote work is possible, the numbers have been staggering. According to the report, 69% of full-time workers in the U.S. are working from home during COVID-19.
2. Increased technology adoption.
Respondents report that video calls are happening 50% more than before COVID-19. However, they’re also reporting dealing with some glitches along the way. Audio quality of videoconferencing was a top challenge for 57% of employees, and internet speed or connectivity was a challenge for 52%. Employers can help navigate these issues with employee training and upgraded technology to improve the telework experience. (See our tips for hosting effective virtual events and apps and tools for running a small business.)
3. Recruiting and retention.
Remote work allows businesses to expand their search for highly qualified candidates from across the country, which is helpful when hiring for a specialized role. Telework has made it possible for employees to stay with a company even if they move to a different location, which translates to less turnover.
4. Increased productivity.
Working from home means employees aren’t spending time stuck in traffic or running late to the office. Working remotely saves employees 40 minutes daily on commuting time, and with fewer interoffice chats and last-minute meetings, employees can balance their personal and professional lives and be more productive as a result. According to the report, 75% of workers had the same or higher level of productivity during COVID-19 while working from home.
5. Working longer hours.
Whether it’s because they feel compelled to work harder to protect their jobs or because it’s hard to unplug from work at home, 1 in 5 respondents are working more during COVID-19. Remote employees reported working an extra 26 hours each month.
6. Better work-life balance.
In a time when employees are stretched thin and juggling responsibilities at work and home, working from home provides the flexibility they need to hold it all together. According to the report, 72% of survey respondents agreed that the ability to work remotely would make them less stressed, and 77% said that working remotely would help with work-life balance.
7. Continuing remote work after the pandemic.
The data suggests that employers and employees are finding benefits in remote work situations, and that this all-digital approach to work may be here to stay. According to the report, 1 in 2 people won’t return to jobs that don’t offer remote work after COVID-19. However, 23% of employees would be willing to take a pay cut of over 10% in order to work from home at least some of the time going forward.
Amegy Bank understands the challenges of managing a virtual team while keeping your business running smoothly. Contact a business banker to learn about our services to help you manage your business finances whether you’re in the office, at home or on the road.
Source: Owl Labs 2020 State of Remote Work Report