Invest in Remote Work
How did remote working change the workforce?
Before the covid-19 pandemic, remote work was something a few people you knew did, maybe that digital nomad you follow on Instagram.
In 2023, remote work is part of our work culture, and can be seen across almost every sector, but especially in tech.
The shift to remote working for millions of people has meant an increase in pressure on cloud computing and online collaboration services. The tech that supports remote working has ballooned into an enormous industry, one that provides opportunities for investors.
Let’s look at some remote work stats to give ourselves some context.
Remote working stats
According to data provided by Forbes:
12.7% of full-time employees work a fully-remote role
28.2% work a hybrid role
That’s millions of people, who before the pandemic would have done their work from a physical workspace with their colleagues.
That said, nearly 60% of those surveyed still work in the office. The estimate is that by 2025, over 30 million Americans will be working remotely. Hardly surprising, as 98% of those asked said they’d like to work remotely at least some of the time.
Remote working is no longer a perk. For much of the talent out there, it’s a requirement for them to even consider taking the job. And as more Gen Z workers enter employment, that push for more freedom and flexibility could have a big and lasting effect on society, how we work, and on the value of the companies making the tech to enable remote working.
But these stats are for the United States. What about back here in the UK?
Remote working stats for the UK in 2023
44% of UK British people work from home at least some of the time (hybrid or full-time remote)
- The amount of people working exclusively from home in the UK has decreased by 14% from 2022 to 2023.
- 16% of UK workers currently work exclusively from home in 2023.
- 1 in 4 UK workers now work a hybrid work week.
- Only 10% of hybrid workers want to return to a fully remote work model.
- Over half of all UK employers are offering remote work in 2023.
- 78% of remote workers report an improved work-life balance.
- 8% of UK workers did not enter the office for the whole of 2021.
- The term “remote jobs” is now searched for over 18,000 times per month in the UK on Google – a 410% increase over the last 5 years.
Pretty incredible, wouldn’t you agree? But what does this mean for the economy?
Is remote work good for the economy?
The reason we ask this question is that a strong economy can lead to more spending, which in turn is good for the stock market, and investors.
Well how about this, ‘Remote workers are 13% more likely than on-site workers to say that they will stay in their current job for the next 5 years.’
If you link job stability with a stronger economy then sure, remote working can be a positive in that regard, leading in turn, to better returns for investors.
The tech companies enabling remote work
All of this remote working is, of course, only possible because of some serious physical and cloud technology.
A lot of it comes from names we’ve known for years, such as Microsoft and Google, while others really came to prominence during the pandemic, such as Zoom.
Cloud computing services, video conferencing services, and WiFi connectivity services, have all needed to raise their game in the past few years to accommodate our changed modes of work.
The result? An acceleration in technical progress, a boon in valuation for those companies who get it right, and a pleasant uptick in the value of investors’ portfolios.
Remote working is here to stay, and as the technology that enables it becomes commonplace, we will no doubt find space for even more innovative features and services.
Here are some of our picks for brands contributing to the remote working space:
Google (GOOGL)*
Microsoft (MSFT)*
Zoom (ZM)
Docu sign (DOCU)
Cisco (CSCO)
Adobe (ADBE)
Dropbox (DBX)
Slack (WORK)
*Available with a NuWealth Standard investment account
