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Remote Work: Ultimate Freedom or Productivity Pitfall?  12 Stats and 20 Brutal Pitfalls to take into account before calling remote work the holy grail... Hold onto your seats, folks! Here are 12 stunning stats on remote work 1. Home Sweet Home: Work from home jumped from a measly 4.7% in January 2019 to a whopping 71% by May 2023. That's like trading a bicycle for a rocket ship! 2. Cha-Ching! The remote work services market is set to explode from $20.1 billion in 2022 to a mind-blowing $58.5 billion by 2027, growing at a whopping 23.8% annually. Can you say "ka-ching"? 3. The Great Divide: Around 19% of companies have gone full-on remote, while 34% are still stuck in the Stone Age with no remote work allowed. Talk about polar opposites! 4. Hybrid Heaven: A massive 83% of the global workforce thinks hybrid work is the bee's knees. They're not wrong! 5. Riding the Wave: Since 2021, remote work fans increased by 24%, and hybrid work enthusiasts rose by 16%. It's a movement, people! 6. Job Perks: 59% of workers would ditch their current gig for an employer that offers remote work options. Flexibility is the new black. 7. Time Savers: Remote workers save an average of 72 minutes a day on commuting. That's 6 hours a week—time to binge-watch your favorite show! 8. Bosses Save Big: The average U.S. employer saves $11,315 a year for each part-time remote employee. Now that's a reason to celebrate! 9. Flexibility Over Cash: Half of the professionals (52%) would take a 5% pay cut for the freedom to work from anywhere, and 23% would take a cut of over 10%. Freedom > Money! 10. Burning the Midnight Oil: 55% of remote workers put in more hours at home than in the office. Who knew PJs could be so productive? 11. Office Equipment? What's That?: Only 20-25% of companies cover the cost of home office gear. Looks like the rest are leaving you to fend for yourself. 12. Green Warriors: Remote work can slash 54 million tons of carbon emissions each year. Mother Earth approves! Make sure to check the infographic on the 20 Brutal Realities of Remote Work Give me your numbers in the 💬 comments Repost ♻ to show some love and insights to your network Save 📥 for later Follow our page on LinkedIn IntelliKnow Visit Our Website: https://lnkd.in/exzj6Twa #intelliknow #RemoteWorkRevolution #WorkFromHomeTrends #HybridWorkforce #FlexibleWorkOptions #RemoteWorkPerks #ProductivityGains #WorkLifeBalance #RemoteWorkCulture #GreenRemoteWork #CostSavingsBenefits #FutureOfWork #RemoteWorkStats #WorkFromAnywhere #RemoteJobMarket #EmployeeEngagement #RemoteWorkSuccess #DigitalNomadLifestyle #RemoteWorkChallenges #RemoteWorkEconomy #VirtualOfficeSolutions

In just five years, remote work has gone from a fringe benefit to a sought-after privilege people are competing for. The demand for remote jobs continues to outstrip supply: As of December 2023, remote jobs made up less than 10% of postings advertised on LinkedIn, down from a high of 20.6% in March 2022 — even though close to half of jobseekers prefer remote roles. Remote jobs won’t disappear entirely, even if some become harder to find, Atlassian co-founder and co-CEO Scott Farquhar tells CNBC Make It. The Australian software company adopted a “Team Anywhere” policy in 2020 that allows employees to choose between remote, in-person or hybrid work. Instead, Farquhar says the biggest change we’ll see to remote work in 2024 is companies introducing stricter, more permanent guardrails around their remote or hybrid work arrangements. “It will become increasingly untenable for people to sit in the middle with a foot in each camp — to tell employees, ‘You have to come into the office 1-2 days a week,’ without specifying which days or enforcing in-office attendance, and then at the same time, give employees who don’t live close to the office permission to work from home,” he explains. More companies are moving to a hybrid structure to balance employees’ demands for flexibility with employers’ desire for office attendance, according to a new report from LinkedIn, which notes that hybrid job postings are overtaking remote job ads on its platform. Regardless of the structure employers select, Farquhar anticipates more organizations will shift from the experimental, lenient phase of flexible working and make a clear commitment to a specific arrangement instead. “I think more employers are realizing that it’s not very productive to have some people in the office, some fully remote, and try to make it work where half of their team is on a Zoom call on a single screen in a conference room, and the other half is in person,” says Farquhar. Although more companies have introduced stricter in-office requirements for employees, office occupancy remained relatively unchanged between 2022 and 2023. According to Farquhar, that’s because employees are getting mixed messages about return to office from their bosses. “Companies have flip-flopped on return to office so many times that it’s hard for employees to understand and trust what, exactly, their stance is on it,” he adds. 

During the last few weeks, I was absolutely innondated with remote work requests and questions. I have been vocal about this frequently. For those that need to hear this, unless you are in a niche field, remote work is dying down. I feel transitioning service members need to start adjusting their thinking process to hybrid. “Across the board, in-office days at America’s major companies have grown from 1.1 days per week on average in 2021 to 3.4 days in 2023. Even worse news: The U.S. trails behind its major peers when it comes to remote work—just 11.5% of its office-based roles are fully remote. That’s a real fall from grace for a country that, in 2020, led the world in remote work rates, with 61.5% of jobs fully remote.” We get it! You served and are tired of moving. You promised your household no more moves. Before you made that commitment, did you research the job market and the area you want to stay in for work? I see folks complain they cannot find work, but then they have these stipulations. There are companies ready to hire, but you may be the one keeping yourself from getting hired. People have been exiting the US military for 200+ years. Only in the last few has remote work been a real thing. IMO, This was a quick fad in response to an epidemic that is now in the rearview mirror. “The software heavyweights who, in another lifetime, expounded upon the benefits of distributed work, have walked back their policies significantly. Google, Amazon, Microsoft, Meta, and Apple each notched above-average rates of in-office work last year: 2.7 days a week, by Ringover’s count.” Are you adjusting your expectations to mirror the labor markets shift to hybrid? https://lnkd.in/evvd58ci

I feel so fortunate to be a remote worker on a mostly in-person team. But, this article is maddening. While this article claims that remote employees are more productive and less likely to turnover than their office-tied counterparts, the crux of this article is that managers can't accurately assess their remote direct reports if they can't drop in on them physically. That's ludicrous. Remote employees are an asset. Full stop. Remote employees allow companies to find the strongest talent, no matter their location. And companies that employ remote workers demonstrate that they respect their employees. Kendra and I started an employee resource group for remote workers, and we provided instruction about ways to transition to remote work at the height of the pandemic. While neither of us would claim to be an expert, I think we can both say that it is the manager's responsibility to learn how to trust their employees. And that's just the simple truth. Would you as a manager expect a meeting with your reports in an office setting when you don't know if your report is engaged in other activities? No, of course not. Would you expect that your office-bound employee answers emails late at night or on weekends? Sure, maybe if they were dealing with a "fire-drill", but otherwise, no. And it must be said that there is some responsibility on the remote worker as well. A #remote employee should check in with their in-office counterparts. They should turn their camera on and participate in team calls. It is the remote worker's job to stay involved in the day to day of the office, and collaborate internally as best as they can. Their talents will shine in due time. So, to anyone I've ever huddled/called without a heads up, I apologize. I know better. I know that I should ask if/when someone is available to talk. And reading articles like this only reinforces my desire to be a good and respectful remote worker. At the end of the day, remote employees are adults--- super productive adults. A good employee will shine whether they are in person or remote. Respect and trust in one another is the binding thread to a successful in person/remote relationship and the companies that have mastered this dynamic are the ones that will thrive and retain their employees' loyalty. What do you think?

Remote work lowers company costs The cost savings of remote work can be split into three major buckets. Here's how it works: 1️⃣ Remote Work lowers employee turnover The findings: A 2015 Stanford study found that working remotely halved (!) employee turnover. A follow-up study in 2022 found that hybrid work lowered turnover by 33%. Gallup found similar results in 2020 (30.5%). This was split between high-attrition work places (18%) and low-attrition workplaces (43%) The Effect: We studied 317 organizations (mostly US tech companies) with total 440k+ employees. On average, these companies had 29.83% employee turnover in 2022. Replacing talent is expensive. The average cost seems to be about 90%. This includes the cost of lost productivity while finding and training the replacement. According to Glassdoor, the average US salary in tech (sales, software engineers, and SaaS specialists) is north of $122k per year. The average company can save $ 8.94 million per year by lowering employee turnover. Remote work does this. The Drawback: Several studies found that remote workers are more likely to change jobs. This is to a large part explained by lower levels of employee engagement. The solution is to engage employees. Not mandating RTO. Mandates reduce engagement and increase employee turnover. 2️⃣Remote Work reduces employee expenses The Findings: Several LinkedIn polls have found that when changing roles, employees prefer remote work over a 20% higher salary. The Effect: Using the same data as above, operating at 20% lower salaries means yearly savings of $34 million The Drawback: This is not the same as saying "We'll pay you 20% less, but you get to work from home now". This applies to new hires and growth. Smaller companies are at an advantage. 3️⃣Remote Work means less money spent on office space. The findings: The average US worker needs between 125 and 175 square feet of office space. The average cost of office space in the USA is $38 per square foot per year. Assuming a middle ground of 150 square feet, that's $ 5700 per year per employee. The Effect: Using the same data sample as in 1️⃣ above, that leads to the average company saving up to $ 7.97 million per year. The Drawback: The savings assume a company goes fully remote. That's not always the case. Savings will be lower if a company keeps a smaller office. Leases run for a pre-defined set of time. It might not be possible to shift to realize these savings in the short term. Long term is a different question. --- This totals over $51M in average savings per year (or 22,76% of related costs). It's worth noting that a company won't save this much by going remote. But they will save a part of this number. Exactly how much depends on each company. Companies currently in growth mode that work remotely will keep these savings. In a couple of years, competition will be more remote-first companies. This means the competition operates at lower costs.

The benefits of remote work are VERY straightforward: 1/ Live where you want or need to. 2/ Maximize the time you can spend with the people you want or need to. 3/ Have the autonomy to organize your work around your life. The true impact of remote work has yet to be realized, but the cracks are all over the pavement… Many large companies have and will have rigid workplace policies, and there’s no sign of this changing at scale anytime soon. Much of tomorrow’s workforce is working at one of these companies, honing their skills and building relationships. At first, they’ll remain accountable to these employers to learn skills they don’t have, but once they do, they will either start their own business or find a fully flexible job. It’s just a fact. People have always craved autonomy, and the best talent IS getting it. Business leaders love the 80/20 rule: 80% of outcomes come from 20% of the work. The same applies to talent: 80% of results come from 20% of the talent. This has always been true, but the 20% of the talent market has never had a “religious awakening” all at the same time… Many companies will continue to think that structured hybrid is working because most employees will adhere to mandates (at least partially), but behind the curtain will be a growing number of highly skilled people who move on once they obtain the skills and relationships needed to do so. As this continues to unfold, the STARK mismatch of supply and demand within the office sector will start to rear its ugly head. It’s a macroeconomic problem that is challenging to quantify because employers haven’t yet realized that offering a static workplace strategy (i.e. a central office model) will increasingly become a more significant business risk year-over-year. Traditional working norms are essentially propping up the commercial real estate market, which is a somewhat crazy statement given how much upheaval it has experienced since March 2020. But it’s true. Many A/AAA Class office buildings in CBD’s have relatively low vacancy rates because large employers are still renewing or leasing this space at levels that don’t reflect the gravity of this societal shift. Eventually, even many of these buildings won't be fit for purpose - at least with a traditional single-tenant leasing model. While things may appear to be returning to “normal” on the surface, they are very much NOT. Each year that goes by will see more of the talent market become empowered with choice because of the trickledown effect of how the most skilled workers will behave. There is power in numbers, and the number of people with power is growing. This is a future worth arriving at, even for the commercial real estate sector. So how do we get there? #digitalhomad ______ *These posts and statements are my own and do not represent the positions, strategies or opinions of CBRE.

Future of Remote Work The future of remote work is undeniably evolving towards a remote-friendly landscape. As we navigate the pros and cons of remote work, it is clear that this work model offers numerous benefits, including flexibility, increased productivity, cost savings, access to a global talent pool, and environmental benefits. However, it also presents challenges such as isolation, communication difficulties, blurred work-life boundaries, and technology-related issues. As businesses continue to adapt to this new way of working, it is crucial to remain flexible and proactive in addressing the evolving needs of the workforce. By leveraging the benefits of remote work and addressing its challenges, companies, and employees can create a successful and sustainable remote work environment that enhances productivity and work-life balance. The future of remote work is bright, and with the right strategies, it can lead to a more efficient, flexible, and fulfilling work experience for all. ------------------------------------------------------------------------------------------Incorporating remote work trends, remote work tips, post-pandemic work, work from home, remote work productivity, remote work challenges, remote work tools, hybrid work model, virtual team management, and remote work future into your daily routine can significantly enhance your remote work experience. By staying informed about the latest developments and best practices, you can confidently and efficiently navigate the evolving landscape of remote work. To further boost your engagement and visibility, consider using hashtags such as #RemoteWork, #WorkFromHome, #PostPandemic, #RemoteWorkTips, #RemoteWorkLife, #RemoteWorkTrends, #HybridWork, #VirtualTeams, #Productivity, and #FutureOfWork

Remote Work Doesn't Seem To Affect Productivity, Fed Study Finds: An anonymous reader quotes a report released Tuesday (Jan. 16th) by the Federal Reserve Bank of San Francisco: The U.S. labor market experienced a massive increase in remote and hybrid work during the COVID-19 pandemic. At its peak, more than 60% of paid workdays were done remotely -- compared with only 5% before the pandemic. As of December 2023, about 30% of paid workdays are still done remotely (Barrero, Bloom, and Davis 2021). Some reports have suggested that teleworking might either boost or harm overall productivity in the economy. And certainly, overall productivity statistics have been volatile. In 2020, U.S. productivity growth surged. This led to optimistic views in the media about the gains from forced digital innovation and the productivity benefits of remote work. However, the surge ended, and productivity growth has retreated to roughly its pre-pandemic trend. Fernald and Li (2022) find from aggregate data that this pattern was largely explained by a predictable cyclical effect from the economy's downturn and recovery. In aggregate data, it thus appears difficult to see a large cumulative effect -- either positive or negative -- from the pandemic so far. But it is possible that aggregate data obscure the effects of teleworking. For example, factors beyond telework could have affected the overall pace of productivity growth. Surveys of businesses have found mixed effects from the pandemic, with many businesses reporting substantial productivity disruptions. In this Economic Letter, we ask whether we can detect the effects of remote work in the productivity performance of different industries. There are large differences across sectors in how easy it is to work off-site. Thus, if remote work boosts productivity in a substantial way, then it should improve productivity performance, especially in those industries where teleworking is easy to arrange and widely adopted, such as professional services, compared with those where tasks need to be performed in person, such as restaurants. After controlling for pre-pandemic trends in industry productivity growth rates, we find little statistical relationship between telework and pandemic productivity performance. We conclude that the shift to remote work, on its own, is unlikely to be a major factor explaining differences across sectors in productivity performance. By extension, despite the important social and cultural effects of increased telework, the shift is unlikely to be a major factor explaining changes in aggregate productivity. [...] The shift to remote and hybrid work has reshaped society in important ways, and these effects are likely to continue to evolve. For example, with less time spent commuting, some people have moved out of cities, and the lines between work and home life have blurred. Despite these noteworthy effects, in this Letter we find little evidence in industry data that the shift to remote and hybri