Technology companies seek more global remote talent because of COVID-19, according to a fresh report from Velocity Global . Responses from 1,000 U.S. and UK tech company decision-makers highlight that 65% of U.S. tech companies and 46% of UK tech companies will maintain or increase their global remote workforce this season.
“The global pandemic forced the largest workforce shift in modern history as businesses adopted remote work en masse overnight, and the noticeable changes are permanent, ” stated Velocity Global CEO and founder Ben Wright. “The worker divided from the workplace, including transcending borders. Companies utilize the tech tools and manage remote teams almost exclusively now. The comfort and ease rose in 2020 and companies seek top talent round the global world like nothing you’ve seen prior.”
Remote Work By The Numbers
The switch to remote work in reaction to the pandemic inspired lasting change for tech companies to get and employ talent beyond their headquarters or employee centers.
- Remote home based. Tech companies immediately enabled home based with the onset of the pandemic. With the various tools set up, 61% of U.S. tech companies and 52% of UK tech companies plan to maintain or increase a domestic remote workforce.
- Scale aids global remote shift. Of the U.S. tech companies (65%) and UK tech companies (46%) with plans to keep or increase a worldwide remote workforce, large companies lead the charge. However, smaller companies behind aren’t far.
- 34% of tech businesses with an increase of than 500 employees will hire remote workers overseas
- 27% of companies with 200-500 employees
- 21% for companies with 100-199 employees
- 10% for companies with less than 100 employees
“The global scale of the pandemic forced large enterprises to purchase remote just work at scale, but smaller businesses are positioned to ahead accelerate the tendency going,” added Wright. “Growth companies are designed with agility to contend with larger companies in every facets of business, and these correct numbers indicate they need to compete for top level global talent. That competition forces businesses of most sizes to employ and compliantly in virtually any global market quickly.”
GREAT THINGS ABOUT A Remote Workforce
The shift to remote work increases productivity, supplements underneath line, and engages employees.
- Employee preference. 74% of U.S. weekly once COVID-19 is not any longer a problem employees prefer to home based at the very least two days, in accordance with a PwC survey this season. Nearly a third (29%) would rather work remotely five days weekly. In the united kingdom, only 7% of UK workers desire to return to any office following pandemic restrictions, in accordance with leading international research analytics and data group, UK YouGov .
- Improved productivity. Over fifty percent (52%) of executives in the PwC research report a rise in productivity for remote teams through the stress of the pandemic.
- Culturally diverse teams earn better returns. Geographically dispersed teams bring diversity of culture, race, and ethnicity. Companies that rank higher in diversity are 35% more prone to see above-average financial performance within their industries, in accordance with longstanding research by McKinsey & Company .
- Usage of skilled talent. Usage of the global talent pools allows companies to employ the very best candidate for the positioning, not the candidates nearest to the operating office.
- Increased recruitment and retention. Remote work improves recruitment and retention for employers. A recently available LiveCareer study of remote employees through the pandemic discovered that 62% stated that later on they’ll give preference to employers who offer remote work; while 29% said they’ll leave their current job if they’re not allowed to keep working remotely.
- Lower costs. An organization can save thousands of dollars annually per remote worker who telecommutes 1 / 2 of enough time. Last year Global WorkplaceAnalytics found that companies identified real estate savings with full-time telework to equal $10,000 per employee (annually). That research points to companies like Sun Microsystems that saves $68 million annually in real estate costs because of its telecommuting policy.
“The advantages of a global remote workforce span business metrics from the employee experience to the bottom line, which go hand in hand” said Wright. year introduced a widespread benefit to employees – work from anywhere “Days gone by. Save money time with friends or family, cut costs and time on a commute, live and get employment in virtually any market anywhere. When that benefit matches increased productivity, retention, and lower costs businesses must move quickly to implement remote teams on a global scale or risk losing talent to competitors.”
Velocity Global surveyed 500 U.S. and 500 UK decision-makers from companies with 50-1,000 employees, focused on the IT, software, hardware, and technology industries. Respondents are director above and level, including C-suite, in the adhering to job functions: business development, legal and business management, finance, operations, and HR. Independent survey consultant, Censuswide, conducted the extensive research.