While it is no surprise that the work world is embracing “remote” as the new way of working, Londoners have decided that remote work in London is going to be the norm long after Covid-19 packs its bags and leaves.
The London Chamber of Commerce and Industry conducted a survey with 500 businesses and the result was in favor of remote work. A whopping 52 percent of these businesses plan to continue with remote work in the long run.
Out of these 52 percent that believe in the model of working remotely, 36 percent agreed to allow their employees to work from home twice a week. The other 16 percent decided to be a little less liberal with the number of remote working days for their staff.
40 percent businesses in London have already reduced physical office spaces since the pandemic hit the world while 31 percent have decided to operate with limited office space. This survey shows a favorable shift from traditional office setups to the remote working model.
Chief executive of the chamber, Richard Burge expressed in a statement that the Mayor of London and London councils must work together “to consider how to respond to the change this could bring to central and local high streets”.
He further added, “This is a further body of evidence that shows changes to ways of working that we have seen during the pandemic are going to carry on in some form for some businesses after it is over.”
“Our research shows that half of businesses will continue some remote working, whilst a third of businesses polled will continue with reduced physical space, and three in five will maintain virtual meetings where possible.
“That will mean less commuters daily in certain parts of London than pre-covid. Clearly this presents challenge for support businesses in those areas. Meanwhile more people will remain in their ‘home’ boroughs each day, and that brings potential opportunity to those areas. For example, outer London co-working spaces.”
An analysis from City Hall showcased a sharp decline in commuter spends in central London by £1.9 billion in 2020 in comparison to 2019. Another new report predicted that if remote work remains dominant and tourist numbers did not go back to how they were before the pandemic then around 119,000 jobs in the traditional office setup could be lost by 2023.
This trend in London shows how the remote work model is catching up everywhere in the world. This is green signal for all those workers who have longed for a better work-life balance, more flexibility in their working hours and an ability to travel the world without being stuck in one location.
It is a win-win situation for businesses and for the employees. Lesser overhead cost and more global talent for businesses, a digital nomadic lifestyle and global opportunities for workers. Remote work for the win!