A Modern Day Work Week

The Covid-19 Pandemic changed the way people work significantly by forcing many individuals to work from home. Only essential workers were permitted to work publicly and millions of people lost their jobs completely. Now that cases have gone down due to vaccines and better practices, many employers are having workers return to the office. However, many workers are still demanding flexibility and the new way of working has opened up the debate about whether the traditional “five-day 8 hours a day work week” makes sense anymore.

Remote work might not be for everyone, however, as so many have been working from home, more and more people are preferring to stay home and not return to the office space. Of course, not all work can be done from home and the statistics paint a picture of the disparity between white-collar and blue-collar workers. According to a study by Pew Research, 62% of individuals with a bachelor’s degree believe their job can be done from home, while only 23% of individuals without a college degree stated their work could be done from home.

Working from home can be a double-edged sword. On one hand, it cuts down on commute time and allows you to generally be more comfortable. On the other hand, working from home makes work-life boundaries difficult to separate. There is a belief that working from home cuts down on productivity, however, the data below demonstrates the opposite effect. By sending workers home to work just 1 time per week, productivity rose by 4.8%, according to a survey of more than 30,000 U.S. employees authored by José María Barrero of Instituto Tecnológico Autónomo de México et al.

For those who are on the fence about working from home versus working from the office, a hybrid approach may be the best solution. Having productivity days in the office where major meetings take place and where direct conversation makes sense is essential. Then on other days workers can stay home to complete basic tasks, answer emails, and overall work on solo projects. For those workers that thrive in an office environment with a large team to work with, this might not be ideal at all. For them, even the hybrid model might not suit their work culture requirements. Again, not everyone enjoys working in their pajamas with their dog on their lap.

Overall, employers need to understand the changing opinions on work location and allow their employees to choose what works best for them and their productivity. Even if someone likes working from home, maybe they become less productive and the manager should encourage them to work in the office. This debate is important because in the next few years the dangers of actually getting the Covid virus should decrease and no longer be a determining factor in the conversation.

For our specific industry, face-to-face encounters can be very beneficial as raising private equity through JOBS Act regulation is heavily reliant on general solicitation. At the very least we hope returning to conferences becomes more viable. Between mask mandates, vaccines, boosters, and a better understanding of Covid the next few years should see things return to some semblance of normalcy. However, new working conditions have truly changed the overall opinion of workers on working from home.

To find out more about topics as broad as our changing world, business, finance, or as specific as Rule 506(c) of Regulation D, stay tuned to the VerifyInvestor.com Blog.