The Massive Advantages of Adopting Remote Work Before Your Competitors
Jan 5, 2020
Thought remote work would rise from talented individuals demanding it as a condition of employment and companies giving it to them to stop them from leaving for their biggest competitors.
It's probably going to rise after this because companies realize they don't need offices to operate and they can be far more cost-efficient and effective operating remotely. Now that they have the data that tells them this nothing will hold them back making the transition.
What Companies are doing right now
📉 Companies slash real-estate footprint by 50%+
Almost every large company on the planet is looking for ways to reduce real-estate footprint. They were beginning to use coworking spaces at scale to achieve this but they are still expensive and are incredibly disruptive and distracting.
The biggest enterprises on the planet will use remote working to reduce real-estate.
🏅 Every company develops a formal remote policy
Companies everywhere are realizing right now how inept their existing capacity is. The biggest companies on the planet are floundering as they recognize how unprepared they were for remote working. The adoption of remote has accelerated 10 years in 10 days.
Every company will develop a formal remote working policy immediately.
🚨 Enterprises a remote disaster continuity strategy
Disaster continuity planning is something I've heard a lot this month. Large enterprises approaching us not to transition their team to remote fully but to have the capacity in the event it's needed.
The largest financial institutions on the planet have contingency sites outside big cities. They will move towards having remote setups at home for every key worker.
🏠 Every worker can choose to WFH 3-4 days a week
The implication of reducing real-estate will be that every worker only has a desk for 2 or 3 days every week. They will come into the office on those days and do their tasks that can be more efficiently done in person.
Every worker will have the option to work remotely regularly.
Why do we need remote working?
Companies who adopted technology first 20 years ago replaced everyone who didn't.
Companies who adopt remote working first today will replace everyone who doesn't.
The reason is incredibly simple: talent and efficiency.
Unless you are Google, Amazon, Facebook or Microsoft remote teams will be far more talented than any office-based team you can build. Talent wars will be won by companies that have great remote work capability, who will wield it to dominate the next decade:
A physical office means you can hire the best person you can afford in a 30-mile radius, disqualifying you from 99.9% of the world’s talent.
Remote teams can hire the best person they can afford on the planet.
The most talented people are stipulating remote work as a condition of employment. Companies who don’t provide this won’t be able to attract the best people.
Companies who don’t give this to their existing workers will lose their most talented people to their biggest competitors.
The smartest people I know personally ALL plan to work remotely in the next decade.
The most interesting companies I know personally ALL plan to hire remote workers in the next decade.
Remote will be the dominant workplace of the best companies and people.
Office-first companies won’t be able to compete with remote-first companies in terms of efficiency, both economic and operationally. Not only will remote-first companies increase their average level of talent with each hire, they will be far more cost-efficient. City living is subsidized by companies, leading to a lower disposable and quality of life.
💰Real Estate Cost
Office-first companies spend $18,400 on average, per workplace, per person.
The best remote setup on the planet costs $2,000 per year, coffee included.
Remote is $16,400 less a year, per team member, or a $16.4m saving per 1,000 workers.
Offices are instantaneous gratification adult kids clubs where it’s impossible to focus and do deep work without distraction.
Remote gives you the optimum workspace you need to do your best work.
⌛Output over Time
The only metric bad middle managers use to measure performance is time spent in the office.
Remote work is about how much work you get done focussing on productivity.
How Do I Develop a Remote Strategy?
We built an all-in-one provisioning platform that lets companies develop a remote work strategy instantly.
We provide all the practical equipment remote workers need at the touch of a button. Firstbase takes care of everything as a monthly subscription per worker, including delivery, upgrades, maintenance, repairs, and collections when a worker leaves. We help you:
- Be more cost-efficient
- Comply with regulation
- Save time on onboarding
- Slash your real-estate costs