Although the impact of COVID-19 has only been affecting the U.S. since the beginning of this year, massive changes have already cemented themselves in the way businesses function. Already, Unified Communication Platforms have gained an extreme boost in success. Zoom has reported a 169% growth in revenue when comparing their first quarter of 2020 to the previous year. Microsoft Teams has also seen huge successes, as in April they reported to have over 75 million daily active users. These growing numbers make these industries hopeful for continued growth. The prospects of remote work that have always existed are now coming to the forefront of how businesses operate.
Before COVID-19 hit, 80% of employees wanted to work from home at least some of the time, according to Global Workplace Analytics. About 56% of the U.S. workforce holds a job that is compatible with remote work, but before the pandemic only 3.6% of the employee workforce worked at home in any capacity. Despite the high percentage of compatible jobs, workplaces were reluctant to bend to this option out of uncertainty. Questions from employers about employee trust and work productivity would arise. However, this push to work remotely has shown benefits and proven to be a win-win for both employees and employers.
Increase in Employee Job Satisfaction
Those 80% of employees mentioned earlier, who wished to have the option to work from home, got their request fulfilled. Reasons that workers have for preferring remote work range from saving money on childcare to avoiding wasting time for long commutes. This overall leads to a most positive outlook on their job, leading to an increase in satisfaction and motivation.
Workers have also stated that they have felt more productive at home. According to a survey conducted by FlexJobs, 65% of respondents stated that they are more productive in their homes than the traditional office. This is stated to be due from distractions being prevalent in the office and workers being away from their desks for prolonged periods of time. The long-held belief that productivity decreases swapping to remote work has shown to be the opposite, to the relief of employers.
Outcomes of Success for Employers
Employers have also been saving money due to decreased travel expenses. In fact, Global Workplace Analytics reports “A typical employer can save about $11,000/year for every person who works remotely half of the time.” Instead of companies paying the costs to have employees travel for face-to-face meetings, remote meetings eliminate travel fees and increase convenience for both parties. Remote work also allows for more efficiency. Less time and effort are devoted to scheduling and traveling to a face-to-face meeting. Business conversations can be done at everyone’s earliest convenience over the medium of online communications, allowing a greater number of decisions to be made quicker.
These trends in the data, both pertaining to the success of Unified Communication platforms and the emerging benefits within the workplace, show that the market for this technology will only increase in demand. Although this market of Unified Communication has existed for quite some time, many businesses are still discovering the power of its tools for the first time. Here at First Communications, our focus is on ways to adapt and enhance our products for an optimal experience, ensuring our customers and partners can stay at the forefront of unexpected changes and evolving market demands. We strive to offer the most powerful tools available, serving as a one-stop shop to offer a full-service suite of products that will integrate communication technologies into one offering. As market demands change, we are continuing to evolve our offerings and provide quality service to our customers.
We look forward to exploring the trends of this market in further posts here on our site so stay tuned!