Due to the pandemic, remote work has become the new normal for many people. Flexjobs surveyed global workers and found that 63% of them prefer to have a remote work job.
There are
various reasons for this like they have a better work-life balance, the
convenience of not having to commute, and increased productivity from having no
distractions. Recently Microsoft conducted a survey and found that 90% of workers
reported being more productive in a hybrid or remote work arrangement.
Remote
work isn’t a new phenomenon. Before the industrial revolution, many people
worked from home and practiced the trade their families specialized in. And the
remote work as we know it has been around since the 1980s, which NASA engineer
Jack Nilles coined “telecommuting.”
However,
many are wondering where remote work business trends will go from here now that
many areas are loosening covid restrictions. If you want to learn more about
these business trends and the insights from different professionals across
sectors like translation services, marketing, and product designing, then keep
on reading!
The Latest Business Trends for 2023
So much
has changed over the years that it’s essential to be up-to-date with remote
work business trends for 2023 and onwards. We have listed some notable trends
in business that we think you should know about.
• Flexibility
in the workforce — Remote and hybrid work management setups appeal to many employees
due to their flexibility. However, this benefit has disrupted conventional work
management and organizational structure, both public and private. Many
governments worldwide are trying to catch up to this new workforce by creating
policies and regulations about it. For example, how to implement tax policies
on remote workers and freelancers as some work part-time or project-based.
• Implementation
of automation and AI — Technology has significantly advanced and improved at
quite a fast pace. With the rise of AI platforms like ChatGPT and DeepAI, work
is expected to become more automated. According to Kissflow, automation
increases by about 14% yearly.
• Increase
need for specialization — Due to how competitive the market has become and the
integration of automation in the workforce, many remote employees attend
courses, programs, and seminars that would give them the skills and training to
become more specialized in their field.
• Multicultural
and multilingual workforce — The rise of remote work has given companies access
to a broad talent pool leading to a more diverse workplace. Also, globalization
has made it easier for many companies to also expand into new markets,
especially with how convenient it is to get translation services.
• Increase
in demand for cybersecurity — The advancements in technology have also caused a
rise in cybercrime. According to TechTarget, it is predicted that by 2025
cybercrime would cost private and public sectors $10.5 trillion.
Benefits and Challenges of Remote
Work
The
reorganization of the workforce has brought advantages and disadvantages that
employees and companies must face in the coming years. In the coming years, we
must find effective ways to work around these remote work trends in the
business sector.
5 Benefits of the Remote Work
Business Trends
•
Lower
costs — Companies and employees can save more money by going remote. Businesses
can cut costs on utilities, rent, and equipment. Meanwhile, employees don’t
have to commute to work and pay additional costs for going out, like buying
food and drinks from stores.
• Broadening job opportunities — As mentioned, remote work has widened the global talent pool and made jobs more widely accessible to people worldwide. It has allowed companies to get highly skilled individuals across borders.
• More
autonomy — Remote workers have more autonomy and flexibility over the different
types of content out there. This new setup encourages employees to take the
initiative and discourages micromanaging from managers. According to Accountemps’
survey, 68% of participants said that micromanaging decreased their morale,
while 55% said it hurt their productivity.
• Reduce
carbon footprint — Because there is no need for offices and commuting, it will
drastically reduce carbon emissions and energy consumption. Through remote
work, businesses across different industries can fight against climate change
in the long run.
•
Improve
employee retention — Some people think that remote work leads to high attrition
within the company because employees will act lazy and unmotivated. However,
Global Workplace Analytics reported it’s the opposite, as 95% of employers said
remote work has positively impacted their company, while 46% of organizations
that allowed remote work stated that they saw reduced attrition.
5 Challenges of Remote Work
Business Trends
•
Miscommunication
— Nothing will replace face-to-face communication because you’re less likely to
misunderstand each other. Because of this, it’s challenging for those living
remotely who mostly rely on chats and emails. However, with the different tools
available in the market
•
Measuring
productivity and mismanagement — Many businesses are hesitant to transition
from an office-based model to a remote work one because they wouldn’t know how
to measure an employee’s productivity, which leads to mismanagement.
•
Vulnerable
against cyberattacks — As mentioned, cybercrime is on the rise. A business
without proper data protection and anti-malware protocols and systems exposes
itself to hackers and ransomware.
•
Loneliness
and loss of motivation — According to Fortune, full-time remote workers were
67% more likely to experience loneliness than in-office workers. This can be
problematic as strong camaraderie within an organization can lead to better
communication, decrease attrition, and increase an employee’s morale.
•
Investment
in training and technology — Global business trends are constantly changing. If
you’re not updated, your competitors can easily leave you behind. So to stay
ahead of everybody else, you must know the latest technology and training
programs. Obtaining these training and tools alone can be expensive for many
remote workers, but it’s the only way to remain competitive in the global
talent pool.
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