Working from home has been a common trend in the corporate world since the last two years. It makes it easier to advance and is less location dependent. However, it can be a mentally dangerous environment as there are no physical social interactions and no physical working lunch with colleagues. Here are some things to remember if you work from home.
It has made it easier to advance
For many high school and college students, hospitality positions are their first jobs. But too often, these positions don’t provide the opportunities for advancement they deserve. This is because many hospitality companies provide only minimal training and skill development, and there is no clear path to full-time status or upward career progression. As a result, many employees don’t feel like they’re contributing to their employer’s success.
One of the main challenges that many employees face in the hospitality industry is understaffing. This can be extremely stressful and expensive for a business. In addition, hospitality workers are usually seasonal or part-time, making it difficult to find long-term employees.
Turnover is high in the hospitality industry. According to the Bureau of Labor Statistics, the turnover rate in the hospitality industry is between seventy and eighty-percent annually. Companies should take steps to reduce this high turnover rate.
It has made employment less location dependent
In a recent survey, a smaller share of employees said that the shift to Working From Home positions made employment less location dependent for them. However, this doesn’t mean that more employees don’t have reservations about working from home. This trend isn’t limited to the hospitality industry.
A recent study showed that more than half of those in jobs that can be performed from home would prefer to do so in case of an outbreak of the coronavirus. In the year 2020, 54% of workers said they would prefer to work from home if necessary.
It has made it easier to find work
According to a study by Stanford University’s Nicholas Bloom, who is bullish on the future of remote work, a remote call center employee at a Chinese travel agency saw a 13 percent increase in productivity. In May 2020, Chicago Booth’s Steven J. Davis and Jose Maria Barrero surveyed US workers and found that nearly half of those aged 20-64 earned at least $20,000 a year.
As a result of COVID-19 containment measures, the number of job postings announcing “working from home” positions has increased. In five countries, remote working has become widespread, allowing operations to remain open and maintain a certain level of economic activity while complying with government guidelines and regulations.
With the rise of remote work, some industries are less affected by labor shortages than others. For example, business and professional services have lower unemployment rates and hiring rates than most sectors. From July to June 2020, almost 1.2 million new people were hired in this industry every month.
Why Are More Workers Working From Home?
With a tight labour market in the US, more workers are opting for work-from-home days. However, employers are worried about lowering productivity and lowering employee retention. More remote days may be a bad idea for younger workers, who want to form professional and social networks in the office.
COVID-19 pandemic upended the business world
The COVID-19 pandemic has drastically upended the business world and the daily lives of people around the globe. Not only have millions of people lost their jobs, but the impact on the economy has been dramatic. Many companies have cut back on their workforce, while others have shifted to a remote work environment. Meanwhile, unemployment rates have skyrocketed. More than 30 million people have filed for unemployment benefits in the past six weeks. As a result of the massive cutbacks, the U.S. economy is likely to remain in recession until at least 2021.
While the COVID-19 pandemic appears to be over, the future of work is still not entirely clear. Although many discussion of the future of work tends to focus on technology and remote work, experts are predicting that companies will have to reassess the capabilities of their employees and create an internal talent marketplace.
Many companies are seeing increases in their workers’ productivity because of the flexibility of working from home. A Stanford study found that employees who were able to work from home increased their productivity by up to 13%. Another study from Prodoscore found that workers who could work from home were 47% more productive than those who worked in an office. The key to maximizing productivity while working from home is to balance work and personal life. Commutes and office hours can be stressful, and this can have a negative impact on employee health and performance.
The number of workers who are working from home has increased rapidly since the COVID-19 pandemic, and research on WFH has followed. Most studies, however, have focused on the types of workers who are most likely to be productive when working from home, such as highly skilled, high-wage white-collar workers. Although research on WFH has been limited, the studies that do exist largely depend on self-assessment of productivity, which can vary widely from one worker to another.
Fosters healthier lifestyles
Working from home can foster healthier lifestyles in several ways. It can offer the flexibility to exercise, visit the gym, buy healthier foods, and get a good night’s sleep. Telecommuters can also take short breaks during the day to recharge and unwind. A recent study by Truven Health Analytics found that telecommuting for just a few hours a month reduced the risk of depression. The study looked at workers who telecommuted at various intervals throughout the month and those who did not.