“Remote work is going to tip the balance of global economic power in a way that few are yet to understand.” Opinion | Barbara Turley
The pandemic has triggered a great ‘working from home’ experiment. Whilst the number of remote workers in the US has steadily been on the rise since 2000, what was once a fringe employment practice has come into the mainstream virtually overnight.
By breaking down the proximity and visa barriers to employment, businesses can unlock whole new pools of talent around the world. However, for this to work, new systems, management styles and processes fit for the ‘remote world’ need to become commonplace.For years, CEOs have been concerned that working from home would lead to a loss of productivity.
This has invariably driven salaries up; in major cities, graduates straight from university are commanding salaries of up to $120,000. Businesses do not have to bow to these inflated wages any longer when there is a talented, hungry international workforce waiting for employment.Cross-border hiring has become a societal norm, as well as an economic necessity. As the saying goes, if you can do your job from anywhere, anyone can do your job.
Firstly, substantial education reforms mean that the Philippines is making remarkable progress; between 2008 and 2015, the net enrolment rate rose from 88 to 95 percent, and from 60 to 66 percent in secondary education. This means that for primary education, the Philippines is on par with the world’s most developed economies, such as the US.
Filipinos are an example of a work-hungry, industrious population waiting to be fully integrated into the global economy - and remote work is making that possible at a scale unimaginable two years ago. This will unleash a burgeoning middle class, transforming their economy and society. Remote work is going to tip the balance of global economic power in a way that few are yet to understand. The artificial control of labour flows through work visas no longer has the power to hold economies back.
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