What’s going on:
The trend of remote work has been steadily increasing since the 1960s, with technological advancements playing a significant role in its growth, according to Fortune. A recent whitepaper from the Stanford Institute for Economic Policy Research reveals that the percentage of people working remotely has doubled every 15 years since the 1960s. The report also predicts that workers can expect to spend 30% to 40% of their weeks working from home in the next two decades.
Why it matters:
The persistent shift toward remote work has been reshaping the traditional concept of the workplace. For many employees it offers flexibility and convenience, allowing them to balance their personal and professional lives more effectively. However, the divide between those who can and cannot work remotely, largely driven by educational level, raises some concerns about inequality in the workforce.
How it’ll impact the future:
As remote work becomes more prevalent, companies will need to adapt their policies and practices to support new work environments. Many U.S. companies have opted for hybrid work environments where employees are required to come into the office for a specified number of days.
Companies might invest in technology that helps facilitate remote work collaboration and develop strategies to maintain company culture and employee engagement in a virtual environment.
The rise in remote work could also influence where people choose to live, leading to shifts in housing markets and urban development. It could also impact transportation patterns, potentially reducing commuting times and traffic congestion in larger metro areas.