So Market Insiders is reporting that apparently some projections indicate that 50% of the US Workforce will be remote by 2020. I’m not sure I believe this but it definitely an idea that provokes some thoughts. What are the repercussions? Let’s speculate a bit.
If we give 50% of the workforce location independence, I’m going to posit that a large percentage of these folks will migrate away from costly city areas and go to lower cost of living areas so they can keep more of their paychecks. If you can avoid high cost of living areas, and the dreaded traffic ridden morning commute why wouldn’t you? For those that pick up and leave, they’ll likely
- Have more time as they won’t be stuck on the road in the commute every day
- More money as they have the freedom to live where they want and avoid the high cost of living common for areas with many job opportunities.
If we carry this further, it seems reasonable that some employees that are able to cut the cord to the corporate office might consider moving abroad to places with more attractive weather and even lower cost of living including much more reasonably priced medical care.
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