We are witnessing a revolution, and there may be no point of return. The genie is out of the bottle. I’ve recently spoken with leaders at dozens of companies, and they all have one thing in common: they are all planning to convert up to two-thirds of their jobs to remote only positions.
Since the Covid-19 pandemic has begun, we’ve seen as much as 42 percent of the U.S. labor force working from home full-time. Stanford economist, Nicholas Bloom, has said that more than two-thirds of U.S. economic activity— measured by gross domestic product and based on earnings— comes from the work millions of Americans are doing from their kitchen tables, basements and bedrooms.
Forty percent of U.S. employment opportunities can successfully be completed at home. Social distancing has highlighted a new reality for many people in which remote work is feasible.
Remote work has not always been as publicly supported as it is currently. The willingness to work from home has been prompted by safety concerns regarding Covid-19. Without this flexibility from employees and employers, the American economy would have collapsed, and many more people would have died; However, the flexibility workers have displayed when transitioning to remote work has illustrated new opportunities for business leaders.
Since March 2020, online meetings and conferences have increased exponentially— and why not? They’re our only (safe) option. And they are here to stay.
A new study by Erik Brynjolfsson at MIT, and five other economists highlights that even when stay-at-home orders were relaxed, many workers voluntarily continued working at home. Even when a COVID-19 vaccine eventually comes out, it is my impression that companies will be reluctant to return to dense offices. In other words— the way we used to work no longer