4 reasons remote work will survive a recession, according to Stanford economist Nick Bloom
Bloom believes the four aforementioned factors will sustain remote work, even in a recession.
"Keeping employees happy, improving productivity, focusing on diversity, cutting costs, they're all pretty acyclical," he says."They're not things that in a recession you're like,"Sod it, we don't care about keeping employees happy or cutting costs. Some companies actually, you care more." While he concedes that a downturn could produce"a bit of a pushback" against remote work, he says he hasn't seen any signs of it in the data yet. In the years to come, Bloom expects the technology supporting remote work to continue advancing, something he thinks will only make remote work more appealing for workers and their employers.
"Even Zoom since March 2020 is way better now than it was," he says, adding that patents mentioning 'work from home' have risen in recent years. "The market for work from home hardware and software technologies is probably about five times bigger," Bloom continues."All tech firms, startups, hardware companies are making products to support it."Subscribe to push notifications
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