With vaccines being prepared to be distributed across the country, we can finally see the light at the end of the COVID-19 tunnel. So what does this mean for the millions of businesses that have transitioned to remote working policies over the last several months?
While research has indicated that companies will adopt remote working arrangements permanently, the reality is more nuanced that this.
Analysis from McKinsey Global Institute of over 2,000 activities across 800 occupations found that remote working is mostly prominent within groups of workers who are highly skilled and educated.
While only 20% of the overall workforce have the ability to work remotely three to five days each week, that is three to four times the amount of employees who could work remotely prior to the pandemic.
At this rate, remote working is bound to completely transform urban economies, transportation and more.
However, over half of workers still have little to no opportunity to work from home since their jobs require in-person attendance. This could lead to amplifying social inequities and disparities among the workforce.
Moving forward, companies will likely opt for hybrid arrangements rather than strictly remote working policies. This is due in part to the increasing demand from employees to have a physical workplace to come into some of the time.
According to a McKinsey survey, 38% of corporate executives anticipate that their remote workers will work from home one or two days each week after the pandemic.