The COVID pandemic revealed two significant factors in the business dynamic. First, most people prefer to work remotely from home, and second, most people are as productive or more productive when working from home.
Remote work by the numbers.
According to a survey conducted by CoSo Cloud, 77% of employees report higher productivity when working remotely from home. Further, 30% of remote employees reportedly save up to $5,240/yr by eliminating the commute and other expenses related to in-office work.
Businesses have also reported significant savings by transitioning employees to a remote structure. According to a survey conducted by Owl Labs, companies save an average of $11,000/yr per half-time telecommuter.
These incentives for remote work are compelling, and will ultimately evolve work dynamics in the coming months and years.
Virtual events are here to stay.
The COVID Pandemic threw the business world into a crash course on virtual conferences, meetings and events. Events large and small were pressed to transition away from physical venues, to some online platform. Tech companies stepped up, and expanded capabilities to accommodate the surge in demand and requirements. Some companies established entirely new systems to best resemble the in-person experience.
Initial feedback was mixed as organizers and attendees encountered frustrating technical limitations. Many of which have now been addressed, and the overall experience will continue to improve as competition in virtual platforms ramps up. In the spirit of technological innovation, this evolution is expected to be rapid.