Covid-19 unexpectedly created the largest workplace experiment ever seen before. Many businesses were forced to let their employees work from home due to lockdowns, quarantines and forced isolations. With these upheavals in motion, what do they mean for the future of work? What does the term “digital nomad” mean? And why should individuals and companies consider remote work in Thailand?
While some companies are slowly getting workers back into the office, many have seen the benefits that remote working can have for employees and business. Before the pandemic, some employers believed their workforce would not be as productive at home, without a manager peering over their shoulders.
However, recent studies have shown remote working to increase productivity by up to 77% and curb burnout. Another option that has been seen to work well is the hybrid model, allowing employees to work from home part of the week and go into the office on one or two chosen days.
Remote working can help businesses save on costs such as offices, subsidized travel and reducing the spread of illness and the subsequent sick days. While there are many positives to remote working, is it here to stay? Let’s study the future of remote work and a few expert insights, so you can adapt your business accordingly.
According to experts, remote work is here to stay and set to increase into 2023. By 2025, over 70% of the workforce is predicted to be working remotely. Tech giants such as Facebook, Shopify, Twitter, Spotify and Dropbox have already implemented policies allowing employees to stay working remotely if they wish. So in effect, the future of work is already in place and is set to stay for the foreseeable future.
The largest area of concern for businesses regarding remote working has been that productivity may decrease. However, current data shows this not to be true, with studies showing how remote working can actually increase productivity and employee happiness, which is actually better for business.
Many outdated work processes and policies will need revising to ensure a remote work model is effective. While remote working has been successful so far, many employees have reported feeling anxious, not knowing about their employer’s plans for future work arrangements. Communication with employees is key, to keep everyone informed about updates.
Work performance relies on employee well-being and engagement. Performance management will need to be adjusted accordingly to reflect the new work at home environment and the challenges that come with it. Some of this can be achieved through digital planning and video conferencing, alongside private meetings for one on one feedback.
A hybrid model combines remote working with certain days in the office each week. Many companies are turning to this model to fulfil the demands of employees and the business. Big companies such as Ford, Microsoft, Target and Amazon have announced their intent to move to a hybrid work model. This type of working offers the best of both worlds, keeping business costs low and employee productivity and happiness high.
Remote work productivity will suffer if the employee does not have the right equipment and software. For home work to be effective, each company needs to invest in digital solutions such as virtual meeting tools, cloud storage and processing, business applications and fast Wi-Fi.
Remote working success depends on the type of industry. Tech, finance, healthcare, business services and insurance sectors are well suited to the remote work model. Healthcare is actually the industry with the highest amount of remote workers at 15%. Those industries relying on physical labour such as construction or factory work, have minimal potential to allow staff working remotely in the future.
With multiple studies showing how remote work helps employees be more productive and a further study concluding working from home is better for mental health, it seems remote working has many benefits.
These findings should be a revelation for businesses, who may have been skeptical before the pandemic. By allowing a more progressive workplace where employees can have a better work–life balance, this is only going to have a positive effect on business.
This shift to enabling remote working also poses a great opportunity for individuals who wish to become digital nomads to pack their bags and work fully remotely from a destination of their choice. With endless options, what would you consider? If Thailand is an option, check out this article here on Work Visa Thailand.
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Are you looking to make your first hire in Thailand? Here is an article on 5 things you should know about hiring people in Thailand
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