Remote work brings a host of benefits to businesses. The impact of remote work on businesses include lowered business costs, higher productivity and quality of work, and increased profitability.
These benefits are well documented and known by multinational companies, SMEs and startups that regularly engage remote workers as part of their workforce. But what about the people on the other side of the remote work experience, the remote workers themselves? What impact has it had on the people and on developing countries?
Outsourcing, Remote Work And The Changes They Create
The rise of business process outsourcing (BPO) in countries such as the Philippines, India, and Malaysia started many people on the path of the remote worker. In fact, home offices and people trooping to co-working spaces has become a common sight.
The BPO boom and the advent of the freelance remote worker has created a massive impact in countries that host them. In the Philippines, remote work is a billion dollar industry that employs over half a million people. Meanwhile, India projects an increase in outsourcing activity in the country. Both countries consider outsourcing as a major economic activity that brings in much needed revenue.
A country’s infrastructure can also become impacted by remote work. Because remote teams require dependable high speed internet connectivity, Internet Service Providers improved their Internet and telecommunication services.
Small and medium enterprises also received a boost from remote workers. Convenience stores, fast food chains and other businesses that cater to the needs of remote workers boomed due to outsourcing.
The continuing growth of outsourcing means a boost to employment rates and commensurate economic growth as well. These changes are welcome and benefit the countries that are home to freelancers and BPOs.
Addressing Social Inequality
Remote workers, Outsourcing companies and BPOs aren’t just after profits. They are also affecting communities with social projects aimed at helping alleviate poverty and address social issues.
Remote work advocates, BPOs and outsourcing service providers often run social responsibility programs. In the Philippines, many companies pursue literacy and economic aid programs for the less fortunate. In other regions such as East Asia and South America, companies contribute to grassroots charitable organizations and NGOs as part of their aid programs. This is but one impact of remote work has had on the community.
When a business invests in the community and improves the lives of its employees, it also helps the business improve the quality of their products and services. The employees reward the company’s investment in their community with loyalty, productivity and engagement.
What’s Next?
As the remote work industry grows and matures, it will continue to provide a bright future for people across the globe. Remote work and outsourcing will improve living conditions, enrich economies and pave the way for social equality for all.
Find out how MERIDIAN REMOTE TEAMS can help you gain the remote advantage. Contact us today to learn more.