What is Coming Next for the Future of Work?
What is Coming Next for the Future of Work?
Hybrid working has become the dominant model of work in this new employee-led landscape. The future is now up for grabs as companies realize they need to shift their policies or risk losing out on talent, while employees weigh whether it’s worth trading days offsite vs getting more face time at home with family members who may not be able to afford living so far away anymore due increasing costs associated with suburban real estate prices.
In late January 2022, data from Future Forum’s latest pulse survey revealed that more than 50% per cent of officer workers are doing some sort of combination between remote job sites like WFH (working from home) combined with office work.
The increase in the number of hybrid work arrangements is a reflection of how companies are adapting to changing lifestyles. As more people have been settling down and having families, many organizations offer flexibility for those who want it – this includes being able to telecommute or change location without extra hassle from their employer if they need time away due either to personal (like family obligations) or professional reasons.
Work Work Work
The role of the office is changing as we enter an era where employees can work remotely. As companies like Google have done away with physical offices, there has been a shift towards more virtual working arrangements which will only increase in popularity among professionals over time.
The Office for National Statistics (ONS) findings showed that 15% per cent out tech industry workforce expected 75% or greater than their normal place of worker to be present at “their” desk during weekdays – i.e., the office – in the future. This is compared to 49% of the accommodation and food service industry, and nearly two-fifths (38%) of businesses across all industries.
There’s little surprise that knowledge workers are most likely to feel remote working is here for the long haul. Given their roles may require nothing more than a computer and broadband connection, these employees see little value in commuting elsewhere just so they could do what could easily be accomplished at home instead- an effect not only seen by big tech companies but also smaller businesses alike who have funnelled billions of dollars into building fantastical workspaces designed specifically around attracting talent through different amenities such as gyms or coffee shops located within walking distance from where staff members live.
CFOs should know that remote and hybrid work is becoming more popular among employees, which may cause them some concern about whether these investments will continue paying off. However there have been significant changes happening in major tech hubs like New York City where interest from companies leasing office space below market rates could mean less demand for physical offices as well. Data provided by The Office Of The New York State Comptroller shows a decrease total value drop from $28b.
The future of office real estate is largely uncertain as companies move to a remote-first model. For example, Salesforce and Spotify have indicated they will be moving their workers into shared spaces temporarily while also considering the logistics for long-term arrangements that may include more flexible hours or remote work options. Many employers are currently assessing how best this new arrangement can serve both employee preferences (such as those who want flexibility) alongside business needs; some businesses already utilize permanent hybrid models like these where employees share space with other firms yet maintain controls over certain aspects.
The world of work is changing and so are the ways in which people can find employment. In 2021, UK-based bank HSBC announced that it would be cutting its office space by 40% as part of a move to embrace hybrid working styles – with fellow banks Santander and Nationwide also closing branches or rethinking their workspaces in order for employees who want greater flexibility when they arrive at work each day; suggesting there may always remain something new about this role no matter what form it takes!
The UK is experiencing a talent crisis as Microsoft found that more than half of workers would consider leaving their company if hybrid working was axed. In fact, 30% said they’d quit in response to an Ipsos survey conducted July 2021 and research by YouGov concluding December 2021 showed nearly fifty percent (51%) were unhappy with current arrangements for remote work within companies—with many citing increased isolationism or less collaboration among team members due reduced face-to face interaction at desk level despite increased opportunities for growth outside traditional 9am – 5pm hours.
This should sound alarm bells not only because organizations are struggling to hire qualified individuals.
The future of work is here, and it’s not only for the elite few with access to resources like high-speed internet. Developers have been enthusiastic about this change because they can get more done while maintaining their flexibility in how often they are able do so – even if you’re sitting at home on your couch! Terminal’s 2022 State Of Remote Engineering Report revealed that 75% percent or nearly all] developers want remote jobs; 68%, however said there was one major reason: “I am able do meaningful work anywhere”.
The tech industry has been suffering from a talent shortage long before the pandemic. With many companies now adopting flexible work policies, this is great news for employees who want better balance in their lives and less stress at home due to increased job demands while being able to maintain productivity on par with ever increasing responsibilities
Analyst Forrester notes that IT professionals were already obliged more time away than other professions because they had no set hours nor was there always clarity around what needed doing during these “work” periods; however, all of those issues seem resolved thanks largely (though certainly not exclusively) to widespread adoption. Now, these highly prized professionals have grasped the opportunity to negotiate for fully remote work arrangements, better working conditions, more development opportunities, and higher wages.
The Office…isn’t dead!
Whether they’re working from home or cafes, more employees are choosing to work in locations that better suit them. This doesn’t mean the office is done–instead companies have started reimagining how their space can align with what workers need for productivity and comfort as well as balancing this new way of doing business while still meeting financial goals
In 2021 there was one common trend noted by CEOs across industries: downsized physical spaces occupied solely by desks replaced often times with virtual environments where team members collaborate on projects face-to-face but do not necessarily interact socially outside these collaborative efforts.
These days, the office is not just a place to work but also home. With flexible spaces that encourage collaboration and networking between employees as well as an emphasis on open floor plans with breakout areas for meetings or brainstorming sessions in addition to modern videoconferencing tech installed throughout some companies have gone one step further by installing fitness programs including yoga classes alongside fully stocked cocktail bars so workers can stay healthy while enjoying their jobs!
The benefits of working remotely are clear: 90% report being more productive, 74 percent say it’s better for mental health and 84%. Permanent work-from home options make people happier even if they take a pay cut or trade money earned from van living in order to be able explore the world without having any restrictions on where one can live out their ambitions.
Kelly Farrell, a lead technical product manager at Vista wanted to take advantage of remote work-life by traveling while still having some simple luxuries. She says they stayed in different places around the country that she checked out with then fiancé (now husband) and got outside more than ever before as well! Their travels took them all over — from Florida keys during summertime heatwave or visiting family back home when winter came upon us early this year– but there was always time left over just so they could explore new spots near where one lived. When they weren’t working in their Airbnb, the couple explored two weeks’ worth of destinations. They had a blast exploring Glacier National Park and Yellowstone while also making sure to see sites outside those deserts as well! One day on a road trip through Montana lead them straight into some amazing dinosaur bones at museum near what is known for being one path where many different types migrated between these two famous parks.”
When you are constantly on the go, it can be tough to get work done. That’s why Farrell and Tiensuu made sure their office would change with them, so they didn’t have one set space for an entire trip; instead bringing noise cancelling headphones or a Bluetooth keyboard depending what type of day was ahead! When you’re a digital nomad, it’s not just about the work life balance – there are also endless opportunities for adventure! For example: “With remote-first,” says Farrell, “you could do anything (in any country) at 25 years old.” I think most people have to wait until they retire before getting their chance on an amazing road trip like his own experience traveling Europe while working as part of Vista company culture.
In the digital age, living a nomadic lifestyle is becoming more and less unusual. Those who have experienced it first-hand say that this type of flexibility has helped them compartmentalize work life from personal time better than ever before while also making both an enjoyable experience; they estimate there are big benefits like increased appreciation for your employer as well! Flexible lifestyles may be just what our future holds – being able to live any way you want should make employers happy too.
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At Bradford Jacobs, we keep up to date on all changes in the world of work and ensure that every client can succeed in their business’ evolution. If you want to know more about what’s coming next for the future of employment and how this can affect your business and International Expansion plans, get in touch with us today.