In the midst of the storm that markets have been lately, we have seen that the actions of some of the technology companies that facilitate remote work have endured the hits. As an example, one stock that has remained afloat and continues to rise is Zoom Video Communications Inc. This platform for videoconferences seems to be the most popular in the middle of the COVID-19 pandemic and there are hints that there is more than that to its 58% year-to-date rise.
For a long time, many companies have been reluctant to adapt new working models like outsourcing entire departments, hire temporal workers or by project, or having a clear home office policy.
Given our current situation, many of this new working models will be tested, not voluntarily but by force, in thousands of companies all around the world, and the result might determine how we work in the not so distant future.
In an enormous simplification, there are two possible outcomes: the first one is that these new forms of working result in a tremendous failure and the second one is that they prove valuable beyond our current scenario. If the result is the first outcome, we will see a gradual return to normality but if we face the second one, we will see companies trying to replicate the benefits that these innovations brought.
At first, non-essential responsibilities and positions will stand out because of its irrelevance during the crisis, this will lead to companies hiring temporary workers or outsourcing some areas, secondly, companies will notice that is more cost-effective to have people working from home since internet, energy, water and some other expenses are transferred to the workers, which will lead to companies to be more flexible regarding this subject and finally, working from home means less people commuting to work, less business travels and an overall benefit for the environment, this will lead to governments to push companies to adopt this new ways.
It is clear that not all works can be done from home, entire industries will see no significant changes in the composition of jobs like manufactures or services, but other industries will see radical changes made possible by technology that makes it possible to work from distance and this pandemic thar forced the test on these new ways of working.