Courtesy of talentlms.com
Will the work from home phenomenon be a work process of the future? However, for the savvy entrepreneur, this could read, opportunity. With the advent of the internet and bringing down the cost to computer purchases, more people can own computers than ever before. COVID-19 has had a global reach and is effecting everyone, young and old. Major events have been canceled, Airlines, Cruises, theaters, churches, and others have canceled with no known time of reopening.
Nevertheless, the savvy entrepreneurs look at chaos as an opportunity and an entrepreneurial vision of what could be. Matt Cimaglia, who is Co-Founder and CEO of Third Sumit believes that the emergence of remote work will have a new effect on how entrepreneurs and the modern workforce will collaborate and function in the future from the comfort of their own homes or interactive remotely from anywhere around the world; no, boundaries. Thus, this could be the workforce of the future.
The Agility of Remote Working
When entrepreneurs learn how
to lower their overhead and be agile in one’s work process and deal with others
in the remote work ecosystem, with success and measurable metrics, this could
be the workforce of the future. The service industry is seventy percent of today’s
workforce, and the major employer’s in the U.S. Thus, there is no real reason
why people must come to a place to do work, that could be done from a remote location
at a cheaper cost to the employer and could be more productive if the employer
gave one the opportunity to creativity in their thoughts which could boost efficiency.
Now, if your business is not dependent on physical workspace, then one does have an opportunity to work remotely. Thus, this new type of work ecosystem can save the entrepreneur money from rent alone that can better use in the enterprise over giving to a landlord, and the other amenities that go along with operating a commercial place of business are thousands of dollars saved and reinvested into the company could be the difference in survival or failure. So, if this kept more businesses active and in the marketplace, why not?
The Importance of Remote Work
Firstly (1) it can save you money. As I have mentioned above, the cost of rent, utilities, commuting to and fro can be substantial and a massive amount invested back into the business and could be the difference between survival and failure. (2) Thus, this business model can assist an organization in finding the best talent globally. Therefore, it would alleviate the cost of relocating and the cost associated with this move plus the time of relocation and the transition to the geographic location of one’s family or self to a new region.
(3). However, this can lead to happier and loyal team members. More and more people want to work from home; however, not everyone can do so. Today’s workforce has a desire for a more flexible work environment. Standford University found that by offering its staff, the option of working from a remote location reduced employee turnover, and job attrition rates fell to that of 50 percent.
(4). Hence can create a more diverse workforce, which leads to a diverse staff with a unique way of looking at situations from a cultural standpoint. Thus, cultural diversity is a good thing for business, the economy, and the country as a whole. (5) The workforce can be productive and engaged more so than the traditional office worker. Nevertheless, the workforce will enjoy a better work-life relationship and balance of the work-personal living situation.
(6). As an entrepreneur, this could allow your firm to stand out from the competition in a positive way. (7). However, this process will help the firm become lean and can scale one’s business quickly. Therefore, it can be a high selling point when looking to attract new talent for one’s firm.
As entrepreneurs continue to evolve with the circumstances or situations as they are presented, a new process is discovered, and new ways of doing the same before are new. Innovation, creativity, and imagination are all the pillars of entrepreneurship; the shifting of old ideas and the transforming of them into something new and innovative is what entrepreneurship is all about. A new product, design, or process that could save one time, money, or make money will forever be the souls of entrepreneurs and what they do for society as a whole as innovative, improvements, and innovators. Welcome to the 21st-century entrepreneur.
Dr. Donald E. Mitchell, Founder, President/CEO of Donald E. Mitchell Agency, Inc.