Will Embracing Remote Work Help Big Tech Firms Fight Through Layoffs?
Will embracing remote work help big tech firms fight through layoffs? Know more about it
Will embracing remote work help big tech firms fight through layoffs? This is the biggest query in recent times as tech firms are announcing employee layoffs. As economies enter a recession, many tech firms are looking to cut costs, but some may be overlooking one of the best methods to reduce expenses while increasing productivity – embracing remote working.
What do Twitter, Amazon, and Facebook’s parent corporation Meta have in common? All three businesses, which are notable tech enterprises, recently announced significant layoffs.
Over 11,000 employees will be let go, according to an announcement made by Meta, the company that also owns WhatsApp and Instagram. After being acquired by billionaire Elon Musk, Twitter stated it would lay off close to half of its 7,500 employees. And Amazon just recently disclosed plans to fire 10,000 workers.
Along with many other digital companies, Stripe, Coinbase, Lyft, and others have recently cut staff. As many Big tech firms are losing money as a result of COVID and productivity loss, cutting costs and office expenses is one of the main causes for these layoffs. Now, Big tech firms fight through layoffs by embracing remote working.
Advantages of remote working:
Workers who genuinely value the enhanced work/life balance they achieve by skipping hours of commuting have a preference for remote work. They interact with their dogs, friends, and families at this time, which makes them more motivated (and emotionally ready) to concentrate at work.
Finding the ideal office space for employees is a constant challenge for any company looking to expand its personnel. Additionally, it’s almost certain that some current employees will find it difficult or impossible to attend once office locations are selected, which will increase staff turnover and dissatisfaction.
In addition to the cost of office space, hiring new employees to replace departing ones typically exposes a business to additional costs (and not only recruitment fees). And that’s before you take into account potential significant travel expense savings.
Accepting remote employment allows businesses looking to reduce operating costs to do so while still maintaining a complete crew. So that these tech companies can spend less on real estate, have access to the top talent available worldwide, and hire people who are motivated to work hard because they have more freedom and time to spend with their families by working remotely.
However, there are challenges associated with remote working. We are aware that enterprise security is being attacked (partly because we have written about it). The difficulty in managing remote workers is that these attacks occur outside of typical security perimeters. We are aware that businesses operating in the area are attempting to safeguard those endpoints, and we are also aware that managed devices currently provide a high level of security. Over the coming year, this will get better.
The security case for keeping information inside of four walls is eroding, though, as even a small firm may sign up for a device management service for free or at a moderate fee to safeguard their devices. There’s little doubt that giving autonomy throughout the work experience, from what Apple’s gadgets (though not flawless) remain the most secure of platforms.
Conclusion: Despite its challenges, remote working can help big tech firms to cut down the costs of office expenses and staff management which in turn can help in avoiding layoffs since one of the reasons for tech layoffs is an increase in expenses.