“The domino effect of working from home could be disastrous
How long before firms figure out they may as well pay half as much for a remote worker in Bulgaria as one who's relocated to Norfolk?
The shock therapy of the work-from-home revolution could destroy any hope of a great economic comeback. If millions of us remain reluctant to flood back into workplaces and urban areas, the impact could be catastrophic for sectors banking on commuters and consumers returning in large numbers. What compounds the risk is that in the spider’s web of our economy, companies in the most ‘at-risk’ sectors employ the services of firms most likely to have embraced home-working. While businesses in say hospitality and property could be hit the hardest, the spill-over effect might be difficult to contain.
The Government may now be panicking about this domino effect. Eased in gently, working from home could be a very good thing. But brought in overnight – and without mitigating strategies in place – it could be devastating. Bosses may also be a bind. The moment one organisation demands staff return another might offer working from home to entice employees. Hard-hit firms may be looking to save cash and some may fear the insurance risk of being ‘Covid secure’. However, while some flexi-working could naturally be embraced, should companies not generally be encouraging a return to normality as restrictions ease, at least in the short-term?”
https://www.telegraph.co.uk/news/202...ld-disastrous/
How long before firms figure out they may as well pay half as much for a remote worker in Bulgaria as one who's relocated to Norfolk?
The shock therapy of the work-from-home revolution could destroy any hope of a great economic comeback. If millions of us remain reluctant to flood back into workplaces and urban areas, the impact could be catastrophic for sectors banking on commuters and consumers returning in large numbers. What compounds the risk is that in the spider’s web of our economy, companies in the most ‘at-risk’ sectors employ the services of firms most likely to have embraced home-working. While businesses in say hospitality and property could be hit the hardest, the spill-over effect might be difficult to contain.
The Government may now be panicking about this domino effect. Eased in gently, working from home could be a very good thing. But brought in overnight – and without mitigating strategies in place – it could be devastating. Bosses may also be a bind. The moment one organisation demands staff return another might offer working from home to entice employees. Hard-hit firms may be looking to save cash and some may fear the insurance risk of being ‘Covid secure’. However, while some flexi-working could naturally be embraced, should companies not generally be encouraging a return to normality as restrictions ease, at least in the short-term?”
https://www.telegraph.co.uk/news/202...ld-disastrous/