Remote work is an idea that enables employees the option to work from home or any other location where they feel productive enough to complete their assigned tasks. The desires of a new generation of workers to have a better work-life balance and the rise of technologies have supplemented the acceleration of remote work. According to the PwC report, millennials evaluate productivity by the outcome of the job accomplished rather than the number of hours worked at the office (PwC,2013). To attract top talent, several firms have reevaluated their approach to corporate policy to work and are now offering remote work, flexible work schedules, and even four-day work-weeks (CBNC, 2022). Companies that have recognized the need to transition to remote/flexible working techniques will thrive in the long run.
During the industrial revolution, our forerunners worked more than 14 hours a day, six days a week, in hazardous conditions, with little pay to sustain them (Stillman, 2020). In comparison, the present 40-hour work-week is a great improvement; yet, technological advancements and a new generation of employees’ desire for a better work-life balance have resulted in the rise of a new work paradigm. Millennials are increasingly interested in five types of employment opportunities, including telecommuting, part-time, flexible, alternative, and freelance work, since they are more enticing and meet their demands (Forbes, 2017). According to a Mckinsey & Co survey of C-suite executives, more than 68 percent acknowledged not having a strategic plan for a hybrid workplace. The absence of such policies may have a detrimental impact, notably when firms compete for top talent.
Merits of Remote Work
Work schedule flexibility has changed and enabled businesses to recruit workers without regard for the geographic location as long as they can meet the requirements (Tarzia, 2021). The adoption of remote work policies benefits enterprises as it allows them to become more efficient in offering their services and leads to higher savings as the necessity for a physical office diminishes. According to the GWA study, organizations may save more than $11,000 per year for each person that works remotely for at least a portion of the time.
Challenges of Remote Work
Corporations without prior remote work policies struggled to adjust to challenges the pandemic brought to office work. Organizations began to struggle with staff management as workers needed to learn new software, technologies, and how to measure productivity (Kashyap, 2022). The quick transition to remote work caused businesses to divert their resources to cyber security as employees’ use of unsecured devices and networks enabled hackers to access valuable data (Tarzia, 2021). However, companies that had already implemented rules and safeguards allowing for remote work handled the abrupt developments without many issues.
Companies and employees have weighed the benefits and drawbacks of implementing remote work, and many have concluded that the benefits outweigh the risks. According to a Wakefield Research poll, more than 47 percent of employees would hunt for a new job if their present company did not implement a flexible working style (Fowell, 2022). The influence of remote work on the everyday operations of a company is recognized, and firms must take the necessary steps to retain and recruit top employees.