🚀 More WFH = faster company growth

Good Morning,

There have been lots of articles lately highlighting “tension” caused by remote work. While there appears to be a simple solution - let people work remotely if they can - convincing today’s leaders of its effectiveness hasn’t been easy.

Luckily, as you’ll see today, there’s more data than ever now that points to remote work’s benefits for company performance - not just employee satisfaction.

Before the news roundup: If you missed last week’s announcement, we re-launched the biggest remote job board in the US (and maybe the world). Find your next role at remotesource.com or tell a friend who needs a remote job 🫡

📈 To quote Nick Bloom: “Firms with more WFH grow faster.” Scoop’s Flex Index, which tracks company WFH policies, found stark differences in growth rates depending on WFH flexibility. The difference was seen in both tech and non-tech sectors, and based on the data they strongly advise against requiring 4+ days in an office. (Scoop Flex Index Report)

✌️ On a related note: RTO will lead to lower retention. In a recent survey, The Conference Board found that one third of those asked to return to the office have significantly less intent to remain with their employer. (The Conference Board)

✔️ Manage remote work like an expert leader. Consultant Mark Mortensen has been studying remote work within organizations for 20 years, and suggests the following steps when company leaders are defining remote policies:

1. Own the issue: bring all data and perspectives forward openly

2. Set expectations and ground rules

3. Eradicate black-and-white language

4. Talk: create time and space for meaningful discussions

There’s no one-size-fits-all solution, but these steps can bridge the gaps at many organizations today. (Harvard Business Review)

🧑‍💻 Working remotely with ADHD: according to a recent survey, those with ADHD find daily work tasks slightly more challenging when remote, but they also prefer to be remote given the benefits they gain from flexibility in their workday. Ensuring “flexible schedules” was found to be the best way companies can support these employees. (Fast Company)

🙅‍♀️ This millennial started freelancing to avoid going back to an office. Her work is primarily done via Fiverr and she estimates she earns thousands more than she did before. “There’s way too many benefits to this way of life.” (Insider)

✈️ Google flights recently launched a price guarantee feature. While not applicable to every airline yet, it ensures that if a price goes up between ticket purchase and departure, Google will credit the buyer the difference. (Bloomberg)

🧠 Unnecessary oversight in your remote job? Try one of these mouse jigglers. We’ve written about them before, but this article has tons of options, including hardware, software, and even an iPhone app (with questionable reliability). These keep your Teams/Slack activity ”Active” by moving your mouse automatically. If your company intensely monitors your status without reason, these can be a big stress reliever. (Tom’s Hardware)

🏚 Office space is now the most distressed real estate asset class. This marks the first time since 2018 that the retail or hotel sectors were not leading in this category. Even worse: while $25B in office assets are considered “distressed” (undervalued) today, experts say another $43B has potential to become distressed in the near future. Office use in major US cities remains at 50% of pre-pandemic levels. (Bloomberg)

*Potential = properties with delinguent payments, low occupancy, maturing debt, or other troubles.

🧹 Declining office work has had a ripple effect on other industries, too. While the benefits of WFH are substantial, the industries reliant on “thriving downtowns” like architecture, cleaning, and furniture, have seen substantial declines. Unfortunately, many of those hurt are small businesses without strategies in place to offset losses. (Wall Street Journal)

One more “Barbenheimer” reference below, then we’re done. Hope you got your movie fix if you opted for a big cinematic weekend!

Cheers,
Grant