Are the Days of Long Commutes Over?
Insight from Garrison Gazvoda, originally published on April 15th, 2021.
In early 2020, a plethora of companies rapidly transitioned to working from home and utilized various tools such as Zoom and Microsoft Teams to stay connected. Many workers believed that it was essential to be in the workplace, however as remote working became the “new normal” workers quickly adapted and found their initial belief to be false. Workers found that working from home had many benefits, such as the absence of commuting, and was overall less stressed. However, as workers started to prefer staying at home, companies wondered if it would become harmful to traditional workplace practices and culture. According to a Forbes article written by Jack Kelly, “If collectively only 20% to 40% of workers elect to completely or partially work from home, there may be life-changing consequences.”
Although there are risks associated with remote work, some companies have actually experienced an increase in productivity. Remote work has been shown to increase mental, physical, and emotional health. Driving to work everyday and working in a stressful environment can really take a toll on an employees’ health and lower their productivity and effectiveness. Now, with remote work as an option, there is more flexibility and people can change their schedules to accommodate their needs. In a magazine article by Fast Company it states, “We are moving more and more into a world where taking calls at home, in the car, while dropping the kids off at daycare, etc., is becoming increasingly common.” As of today, 41.8% of the American workforce is still working remotely and this number is expected to be around 22% by 2025. This number has increased by over 159% from 2005 when remote work started to become an option. As technology advances and workers continue to find benefits from remote work, it seems like working from home will continue to become more popular and save companies the expenses of office space.
Some consequences that are associated with the transition to remote work are people fleeing cities, commercial real estate is hurting, and multitasking work and home life responsibilities. Cities, such as Boulder, Des Moines, Boston, and more used to be an essential place for workers due to the thriving atmosphere and employment opportunities. Since the onslaught of the pandemic, cities, which were hit the hardest, are seeing a large amount of residents moving elsewhere. The transition has negatively impacted the cities economies and has harmed many of the small businesses stationed there.
Another negative effect is that workers switching to remote work have eliminated the need for commercial real estate and office space. As PPE measures continue to rise and remote work becomes more applicable to a variety of businesses, office spaces will no longer be as large or common as they were prior to the pandemic. Distractions at home are another concern that arises from remote work. In the office, workers can solely focus on their tasks, but at home there are many distractions, such as walking the dog, taking care of the kids, and other chores. This means workers continuously have to multitask. This is a risk for many companies because it may affect the companies performance if the employees are not 100% focused on their work.
In the future, it is unknown how long the effects of remote work will last. Overall, there have been a lot of benefits that have come with the transition and it is more than likely that we will see more companies offering a hybrid work model. In my opinion, the traditional workplace is irreplaceable and the social interaction aspect is crucial to the success of a business. Allowing workers to interact and collaborate with one another in-person opens the doors to creativity and innovation. This is beneficial to the employees, employers, and the community in which a business operates. Remote work prohibits the ability to read body language and pick up on social cues. This limitation restricts workers from openly collaborating and could in turn reduce productivity. Despite the fact that I find the traditional workplace to be the most effective environment to conduct business, I inevitably see the future containing a mixture of remote work and in-person work.
Sources:
https://www.discovermagazine.com/health/how-remote-work-changed-our-lives-and-our-health
https://www.csmonitor.com/Business/2021/0311/Remote-work-is-here-to-stay-and-it-s-changing-our-lives
https://www.moneytalksnews.com/slideshows/how-remote-work-is-changing-society/
https://www.fastcompany.com/90540239/remote-work-is-changing-how-productivity-is-measured
https://www.cobizmag.com/whats-the-future-of-commercial-real-estate/
Garrison Gazvoda is a junior from Cheshire, CT who is pursuing a dual major in finance and economics. He is also an active member of Alpha Kappa Psi and is a TA for Econ 402. This past summer he worked as a sales and marketing intern at Performance Architects in Boston, MA. There he was able to learn key sales and marketing strategies and about some of the major technology in the industry. He joined Rines Angel Fund in hopes of learning more about what it takes to become a successful entrepreneur.
