Economics and Working from Home

 Nora Mayral Boyle

Mr. Roddy

IHSS

3 February 2021

Working From Home?

The pandemic really gave us a crash course in working from home, and shown us, that for a lot of professions, it’s really possible, and like many businesses have actually been finding, is more beneficial than working in an office. The truth is, the great majority of jobs don’t require one-site work. The main reasons many professions still have in-person offices is the same reason why most schools (speaking generally, pre-pandemic) are in-person as well: socialization and  more formal work/study place. This pandemic really brought the idea of remote working to the frontlines, and businesses are really jumping on it. With fewer or virtually no workers in-person, real estate costs can decrease, and with current meeting platforms like Zoom, international talent may be hired. Many companies have even considered adopting this work-from-home model even  after the pandemic has cleared up. Working from home is also helping companies grow and see more income due to the fact that their employees, on average, are more productive at home. A study found that workers working from home were 13% more productive, and 9 months later, when presented with the option of returning to in-person work, those that chose to continue at  home saw even more improvement. Workers that chose to work from home after those nine months

I found this article to be important to the topic of economics because businesses, and how businesses run are basically the reason our economy is the way it is. Businesses are the reason why our economy runs the way it does. Now, companies tend to have one main goal: earn as much money as possible. With this in mind, when working on a budget (pretty much always), companies always make an effort to find places where less  money needs to be spent. When workers are working from home, companies have less expenses related to in-person workplaces. This may include real estate for offices, relocation fees for workers, wear-and-tear maintenance, and more. With workers working at home, businesses don't have to worry as much about and spend as much money on such expenses. In addition, as said before, those that work from home end up being 22% more productive. With companies’ workers working harder and more efficiently from their own homes, businesses are able to bring in more money. In addition, an online environment gives businesses more opportunities. Higher talent could be hired from anywhere on the globe with a work-at-home system, eliminating the need for any  relocation fees, and making it easier for businesses to hire the personnel they see  to be mostfit for the position. With all this in mind, such work-at-home circumstances have been making it a lot easier for many businesses to work more efficiently than ever before. 

https://hbr.org/2020/11/our-work-from-anywhere-future 

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