Future of Work
Determine the Total Addressable Market (TAM) globally for remote work in the next five years based on the total amount of money companies intend to or would spend on communicating remotely, and to determine the proportion of future employees globally that would work remotely by 2025.
Trends in Employees Doing Remote Work
- A global survey from 2018 found that the majority of companies allow partial or fully remote work. While 44% of companies don't allow remote work, 16% of companies are fully remote, while 40% of companies allow for hybrid options (fully remote, fully in-office, or alternating.)
- As of 2019, 33% of employers report that 1 to 25% of their employees work remotely, while 30% report that 100% are working remotely.
- Approximately 1.87 billion or 42.5% of the global workforce will be "mobile", or remote by 2022.
- Some experts estimate that by 2025, around 70% of the global workforce will work remotely five days a week. Others estimate that by 2025, 50% of the workforce will work at least partly remotely.
Spending on Remote Internal Communications
- There appears to be an upward trend in spending on internal communications. In a global survey, 75% of respondents reported that they were spending more on employee engagement than they were two years ago.
- A survey of businesses from the US and the UK report that 62% of their internal communications budget goes to digital communications spending.
- A global study found that most companies (34%) said their internal communications budget was less than $10,000 per year. But bigger companies with more than 500 employees had an internal communications budget of $185,000 per year, excluding salaries.
Summary of Findings:
- By 2022, 42.5% of the global workforce will be remote, and by 2025 this number will jump to 50% to 70%.
- There appears to be an upward trend of spending in internal communications, specifically digital communication spend.
- We did not have enough time to find or triangulate the Total Addressable Market (TAM) globally for remote work by 2025.
Proposed next steps:
You need to be the project owner to select a next step.
We suggest looking up 2 to 3 case studies of companies headquartered anywhere in the world, that had succeeded in converting a primarily in-office workforce to a partially or fully remote workforce.
We suggest additional research that provides 2-3 employer spending trends on remote work or internal communications. For each trend identified we will provide what the trend is, why it is a trend (why we chose it), and 1-2 examples of thought leaders or industry experts discussing the trend.
We recommend the triangulation of the Total Addressable Market (TAM) globally for remote work by 2025 based on the total amount of money companies intend to or would spend on communicating remotely.