Far from being an anomaly for employers, working from home is now an expected way of life for the American workforce. One-quarter of all jobs will be remote by the end of 2022. That number is predicted to increase in the coming years. Remote roles were less than 4% of all jobs in this country before the COVID pandemic. By 2020 that number increased to 9%. By late December 2021, that volume almost doubled. Here we are in the summer of 2022, and remote work has changed so many things in the American job market. What are those changes? How has remote work impacted business as usual?
The Impact of Remote Work in 2022
Remote work affects the employee and employer, but there are also some big impacts on the economy, the environment, and the world at large. They include:
A reduction in human commuting. Fewer people commuting to work means fewer cars on the road and potentially reduced emissions for a better climate. There’s also an impact on the fossil fuel community when less gas is consumed. This, in turn, impacts governments as fewer taxes are collected from gasoline purchases.
Why does an employer need office space when their workforce is remote? We’re already seeing a ripple effect on commercial business space sales, as more employers drop their leases and buildings lose their tenants. Could these buildings eventually be repurposed for other uses?
Small (and Large) Business Impact Downtown
If fewer people are commuting to work downtown, what happens to sales in the businesses that reside there? Sales will drop from lunchtime shopping and meals. Coffeeshops from Starbucks to individual businesses will feel the pinch as daily foot traffic drops. Spending instead will move to suburban locations, where people are working from home.
The impact on employees and employers is being felt, too. It’s harder to keep a culture going when employees don’t gather anywhere but through a digital screen. At the same time, remote employees are bringing home more cash; one estimate showed a typical remote worker saves $4,000 annually on commute costs. But the employer saves, too; up to $11,000 annually “for every person who works remotely half of the time.”
While these are just some of the big picture impacts of working remotely, every employer and employee is different. But two things seem clear: 1) Remote work is here to stay, and; 2) It’s having a big impact on your business.
Have You Adjusted to The New “Normal” of Remote Work?
With remote work comes the need for a better set of tools and processes to manage your dispersed workforce. FoxHire is that tool. We are a full-service employer of record (EOR) offering the technology and internal teams to manage all of your hiring and employment needs. Find out why we are the go-to company for employers seeking a better way to manage the new normal. Call on us today to find out how we can help your business.