Single Operated Newsletter - Predictions About The Downside of Remote Work

LOS ANGELES - May 20, 2021 - PRLog -- You may be surprised to be reading about the downside of remote work from PaidLetter.Com a company that teaches individuals how to create a remote lifestyle.

But more about that in a second.

First, let's cover some of the downsides of remote work as it is shaping up.

According to Myvisajobs.com, America's tech giants are among the companies relying most heavily on foreign talent. IBM, Microsoft, Google, Amazon, Apple, Intel, and Facebook all filed 1,500+ Labor Condition Applications for H-1B visas in the fiscal year 2019, putting them among the top H-1B visa sponsors.

About 71 percent of tech employees in the Valley are foreign-born, compared to around 50 percent in the San Francisco-Oakland-Hayward region, according to a new report based on 2016 census data. One report states that close to 53% of the Silicon Valley tech workers were imported from out of the country.

If workers can maintain productivity from afar, businesses can spend less on office space. That's precisely what many companies intend to do. A good 68% of large-company CEOs say they now plan to downsize their office space, according to a survey by KPMG. And that's not just in response to the pandemic.

What does this mean?

1) Hiring Strategy Changes - Since technology and other companies, are downsizing office space they can expand their work pool by using remote workers. This allows them to hire the smartest candidates. Unfortunately, this may mean that these high-income jobs will go to remote workers outside of the United States. The other advantage is that they will be able to acquire these remote workers for a fraction of the cost of in-house employees.

2) Office Space Available - When you drive around the business corridor of your city more "For Lease" signs are popping up. As more companies switch to the remote worker model these offices will remain vacant. Some have predicted that this will have dire consequences for cities because these corporations were paying a large percentage of income taxes. When these physical jobs vanish and work dries up cities will decline. We are witnessing a mass exodus from cities like San Francisco and New York due to the pandemic.

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