Tech Industry Trends: The Permanence of Remote Work

As companies navigate COVID-19, the idea of managing a remote team is becoming more appealing. One area we’re seeing this trend set in is the tech industry. With Facebook announcing up to 50% of their 45,000 person team becoming remote within the next 5 to 10 years, there is a definite shift happening that will share future hiring and management at tech companies. Here is what this shift to permanent remote teams could mean, and we’re currently seeing within the tech industry.

Hiring remote teams could mean your employees live just about anywhere.
With this trend towards permanent remote work, relocating potential candidates won’t be as big of a challenge. Hiring remotely could mean your organization has team members in other states (or even countries). This comes with its own set of challenges, but one of the main benefits is the growth of the candidate pool for future positions.

The idea of office space – and what that means for the “bottom line” will shift.

With the move to remote teams comes the reimagining of workspace. Offices and conference rooms won’t be as necessary as they have been as fewer employees return to their physical office buildings. This could lead to tech companies renting or purchasing smaller spaces – or forgoing this expense at all. Another potential shift could be towards coworking spaces where in-person meetings – when necessary – can still happen.

A shift away from Silicon Valley as the focal point of tech.

Although this is a trend we’ve seen in some cases over the past few years as tech incubators pop up across the Midwest, COVID-19 could certainly push this trend faster. Companies can pop up in other locations and still tap into the best talent and find great opportunities for funding beyond Silicon Valley.