Recently, Millennials have become the largest active population in the worldwide working field, surpassing Baby Boomers – those who were born between the end of World War II and the 1970s.
And, along with Millennials, came a series of new paradigms in all social aspects, including working ethics and job opportunities. The rapid development of new technologies, as well as the worldwide spread of high-speed Internet, brought endless possibilities for people to work remotely and still keep in touch with everything.
A cup of coffee served at your favorite coffee place followed by a brunch in the park and business calls handled from anywhere – this is the recipe more and more Millennials adopt when it comes to their jobs. By comparison to Baby Boomers who are known for sticking to a job in a company for 10-15 or even 20 years, Millennials have other needs.
They can no longer cater to the regular 9-5 schedule as their private time is equally important. Thus, companies are looking for new opportunities to attract valuable employees by allowing them to work from anywhere they want and even make their own working hours, according to their specific needs.
And, if you’re still wondering why this business model works, here are some of the reasons why working remotely could prove beneficial both for the company and for its employees.
Less time spent commuting
With rents reaching sky-high costs in big cities and deposits that 20-year old people cannot afford, working remotely allows employees to move to the outskirts of the big cities without worrying about spending hours commuting daily.
In the long term, this means more free time for people to pick up new activities and hobbies and pay more attention to their physical appearance. Whether we’re talking about swimming, boxing, Yoga, Pilates, going to the gym or simply investing in a Globber scooter and moving around the neighborhood, a remote job allows Millennials to use the time they gained from commuting to invest in their happiness.
Companies that allow employees to work from home or other locations also experience a significant cost reduction in terms of rent and office supplies. We all know that business buildings in good locations charge astronomical rents for companies to use their facilities, which means less profit at the end of the year.
By allowing their employees to work from various locations, companies can rent smaller offices and reduce their electricity bills and office supplies bills.
Working in regular offices can be loud and stressful for some employees, meaning their productivity might decrease, in time, if they are constantly distracted by other coworkers or loud noises.
Working remote allows employees to make their own working schedules and get everything done in a calm and comfortable environment, without having to worry about being constantly interrupted by other coworkers.
According to a Canada Life survey, most employees who work from home or remote locations rank their productivity 7.7/10, whereas office workers rank it 6.5/10. Not having to wear suits, skirts or high heels regularly will also increase the comfort of employees, motivating them to become more productive and finish all their tasks on time.
Benefits for the local economy
Not only employees and companies benefit from this paradigm shift but also local economies. Some cities and states are paying people to move in, determining remote workers to boost local businesses and investments.
States like Vermont, Oklahoma, and Maine offer remote workers up to $10,000 to relocate there as long as they can prove they have a full-time remote job. In the long term, remote workers will create families and generate new revenues locally, which is a win-win situation.