Epoch 35: Work From Home in the Post-COVID World

Utilization Trends, Employee vs Employer Expectations, Future Directions

Hello Avatar! Welcome back for another week of biotech analysis. Today is Sunday, which means this is our Building Biotech newsletter that is focused on discussing biopharma strategy topics. Today we dive into the evolving landscape of remote work. The COVID-19 pandemic has significantly reshaped how we work, pushing remote work to the forefront of workplace dynamics. Today we explore the state of remote work globally, highlight the gap between employee preferences and employer plans, and discuss the benefits and challenges of remote work. Additionally, we'll look at the impact on productivity and innovation, the role of technological advancements, and future directions for a hybrid work model. 

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The Evolution of Working from Home: Insights from the Latest Research

The COVID-19 pandemic catalyzed significant changes in workplace dynamics, with remote work becoming a prominent feature globally. As we navigate the post-pandemic landscape, understanding the nuances of this transformation is crucial. 

As a pre-read checkout this interesting discussion with Nic Bloom from Stanford on Remote Work and Productivity.

“A huge trial of hybrid working has shown that this approach can help companies retain employees without hurting productivity. While a mix of home and in-person working became the norm for many post-pandemic, the impacts of this approach on workers’ outputs remains hotly debated and difficult to test scientifically. To investigate the effects of hybrid working, researchers randomly selected 1,612 people at a company in China to work in the office either five days a week or three. In addition to the unchanged productivity, employees said that they value the days at home as much as a 10% pay rise. This led to an increase in staff retention and potential savings of millions of dollars for the company involved in the trial.”

See the original manuscript here

And here

The Nature study covers 5 core concepts regarding working from home - retention, performance, promotion potential, and productivity.