Speculations are that work from home policy will get extended across many sectors in the industry at least as long as COVID stays. This brings us to visualise how remote working is going to change the workplace policies and what kind of employment will it offer in future.
Shreya Rohit
COVID-19 brought a global health crisis on one hand and introduced the changing dynamics of the workplace on the other. According to research, about 83% of businesses offer, or are planning to offer remote work. Facebook recently announced that it expects more than half of its employees could work remote permanently in the next 5 to 10 years.
Twitter too has said that except for the people required in the office, all others would work from even after the pandemic. Prior to this, Amazon and Google announced work from home for employees at least till October and December this year, respectively. Many other tech companies like Box, Teradata, Qualcomm have followed suit. Speculations are that this work from home policy will get extended across many sectors in the industry at least as long as COVID stays.
This brings us to visualise how remote working is going to change the workplace policies and what kind of employment will it offer in future.
However, this flexibility of the workplace may not result in the same bargaining capabilities for high salaries that existed until now. With jobs shifting out of tier 1 cities, employees will be paid as per the cost of living of where they choose to work.
Lower cost of living means companies would end up paying as per the labour market rates in those cities. It seems that remote working has turned out to be productive at many companies. Therefore, with the right people management and desired output, the big tech companies have considered extended work from anywhere policy for current and future employees, some indefinitely and some permanently.
Does this mean that working from office would become the new option? A dramatic rise in the number of remote job postings has been observed recently, leading to a kind of inverted trend in work policy. It is quite possible, that oddly enough, employees would be given an option to work from the office, unlike the opposite today.
Only time will tell how this has a ripple effect on economic factors that affect people, such as commercial and residential real estate and consumerism.
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