In 2020, the COVID-19 pandemic disrupted labor markets around the world and forced companies and their respective employees to adapt quickly and transition out of office to a remote working environment. A new era for office workers across the globe. Whilst several articles suggest that working remotely and virtual meetings are likely to continue, just less intensely than at the pandemic’s peak, we explored whether employees are missing the old school workplace and heard their thoughts on returning to the office.
An Employees’ Perspective
Earlier this year a McKinsey Report - interviewing approx. 800 executives around the globe who were working from home - suggested that respondents felt that overall, being in an office was better for their career projection. They affirmed that work can be completed more efficiently when done from the office and that the workplace allows them to separate work and leisure with ease.
Another study from Twingate explored this further, by examining specifically what executives, working both in the USA and UK, were missing when working from home:
A workplace to focus
Interaction and face-to-face meetings
Technological equipment and resources provided in the office
Collaboration and simpler communication
The report also shows that even the employees who at the beginning of the pandemic stated to be the most satisfied in remote work, have now reverted after the dramatic increase of email communications and Zoom meetings that “it isn’t a comparable replacement for interacting with people in real life”. Simply missing your daily commute, dressing in office attire or having multiple options for lunch has been enough to make employees consider making a return to the office without requirement.
Benefits to employers might represent a threat
Whilst employees suggest that a return to the office would be paramount in restoring some normality in the workspace, the earlier report from McKinsey also summarizes that remote work comes as a substantial cost saver to businesses. Their survey found that in the USA, employers planned to reduce the office space by 30%. Most executives affirmed that by avoiding costs with rent they can increase their overall profitability, creating opportunities for technological investment. E-commerce and virtual services are still their main target for such new investments.
Unavoidably, the demand for restaurants, retail and public transportation in downtown areas has seen a decline. Business travel - the most lucrative source of clientele for airlines - will also be affected, detrimental to employment rates within commercial aerospace, hospitality, airports and food industries.
Corporate culture is also a threat for employers. Whilst reduction among building spaces might increase their profitability, the constant complaints of lack of effective communication is negatively affecting how work is being done. For those joining a new company which has converted to an online onboarding process, the sense of belonging which is crucial to a successful workplace is difficult to cultivate, as raised by respondents, “How difficult can be it to build up a culture through Zoom meetings?”.
Will new work trends influence the IT market?
Absolutely. As observed last year, the pandemic propelled the adoption of automation and AI, increasing employability rates across the technology sector. New ideas were turned into innovative businesses with Telemedicine, E-Commerce and Virtual Delivery services remaining in high demand as customers globally endeavor to keep using such services after the pandemic.
What shall employees expect next?
Uncertainty continues to be the most resounding and universally felt response when it comes to concerns over the future. However, it is reasonable to conclude that whilst remote work offers financial benefits to employers cutting business costs, it has and will continue to negatively impact employees’ mental health and subsequently their rates of productivity. Remote employees admitted feelings of loneliness and lack of efficiency and this, in the long term, will impact companies’ cultural environment and individual’s sense of collective identity. Whilst a lot can be done from home remote work proved to be unsuccessful in matters of negotiation, critical decision, brainstorming sessions and in the integration of new employees.
About Oliver Parks
Oliver Parks offers search-based recruitment solutions to the technology sector, specialising in ERP, CRM, e-commerce, Business Intelligence, Mobile Development. Data Science & Engineering, Cloud Computing, Web Development, Content Management and Cyber Security. The firm’s multilingual consultants operate in narrowly-defined niche market segments, enabling them to gain extensive knowledge of the people and companies operating in each technology. Oliver Parks has a proven track-record with more than 100,000 candidates worldwide and more than 300 clients globally.