Labour market is being shaped by the new forms of employment – telecommuting, freelance, and flexible contracts are becoming more and more popular around the world. Let’s take a look at numbers to understand how these growing trends will change the business in the future.
Home is best
Reuters have conducted a study, evidencing that around 20% of employees do some or all of their work remotely, moreover, this percentage is growing with every year. It can be explained by the preferences of the current generation – millennials are striving for independence and flexibility, being less focused on financial gains. Some interviewed representatives of modern generation noted, that they even quit jobs because of the lack of flexibility at work. At the same time, millennials admit that they are more likely to work and stay longer for a companies providing flexible schedules. So, here’s the key for attracting best young talents!
Embracing new demands
Many businesses have already understood the needs of the modern workforce and are actively embracing them. In the US and India – the leading suppliers of the workforce, – more than a half of companies offer remote employment. It causes the upward trend in the number of flexible jobs offered worldwide – their number increased by 17% in 2017 alone, and continues to grow.
Not for everyone
However, switching to telecommuting does not happen in all industries – this type of employment is the most popular in such spheres as management, business, and finance, accounting for almost 40% of all employees working in these spheres. At the same time, due to the specialities of some industries, remote employment is a perfect option for production, transportation and logistics – these companies are least likely to employ remotely, according to the US Department of Labour.
Satisfaction and productivity
Studies, conducted by HBR, confirm that telecommuting has a positive impact on the employees’ productivity, aligned with higher satisfaction. However, simply sending all employees to work from home is not a key to success – remote employment requires proper management and communication to be efficient. Psychologists note, that in order to keep remote employees as productive as possible, it is still necessary to arrange in-person meetings in the office.