There was a time when people took for granted that a desk job meant working in an office and spending hours commuting. But the COVID-19 pandemic changed things, especially how we think about remote work. The rise of remote work has had huge implications for Chicago’s economy, residents, and even things like auto insurance.
The Remote Work Revolution: How It Started
When the COVID-19 pandemic hit Chicago (and all of America) hard, business owners had to adapt fast. Many companies had to change how their employees worked. Offices remained empty as workers stayed home to do their work over the Internet, maintaining their health and safety while not sacrificing productivity at their jobs.
The worst of the pandemic is now (hopefully) behind us, but remote work hasn’t gone away. While many companies have pushed for a return to the office, many employees found they enjoy the flexibility and freedom of working from home — especially when they don’t have to endure a grueling commute. Office building owners are not exactly thrilled about this turn of affairs, and some businesses have embraced a hybrid model that combines remote and in-office work.
The Economic Impact of Remote Work on Chicago
As you might expect, some of the biggest negative effects are being felt in Chicago’s downtown. Fewer workers are commuting to downtown offices, which means less foot traffic, which in turn means an economic downturn for restaurants, coffee shops, and small local stores. With fewer people stopping in, many smaller businesses are feeling the pinch.
On the up side, however, suburban areas have seen an uptick in their local economies. Because they’re working from home, they’re spending more time in the suburbs and patronizing the businesses there. Many suburban businesses are thriving due to this shift, with some even seeing expansion opportunities.
How Remote Work Has Benefited Workers (and Employers)
We’ve already established that remote work has diminished the inconvenience of commuting and the more flexible schedule, but let’s dig a little deeper into some of the additional benefits.
Better Quality of Life
For one thing, the absence of a daily commute has legitimately decreased stress for many workers, which has tangible health benefits. Employees also get to spend more time with their families, decreasing stress and increasing work-life balance. Both employees and their families have seen an overall boost in mood and mental well-being because of it.
Increased Productivity
One of the most common and enduring arguments against remote work is that it would destroy productivity. But as it so happens, fewer office distractions, the ability to create a more personalized workspace, and the flexibility to work without having to “look busy” has made many employees more focused and efficient. Contrary to expectations, businesses have reported tangible improvements in work output and task completion.
Cut-Cutting Benefits
Remote work presents money-saving opportunities for employees. Not having to commute daily can save a bundle on fuel and maintenance costs for your vehicle, and if you don’t drive much at all, you might qualify for a mileage-based policy — a prime opportunity if you’re looking for cheap Chicago car insurance. That’s good news for Chicago motorists, since (according to Beth Swanson at insurance comparison site The Zebra), Chicagoans pay more than the national average for their auto insurance.
Working from home also means less of a need to eat out for lunch or purchase a delicious but pricey coffee. Working from home also means less of a need to keep your wardrobe updated, saving on clothing costs.
Co-Working Spaces
Granted, not everyone wants to work from home — or, at least, they like having some office space once in a while. To this end, some are opting for “co-working spaces,” rental arrangements that allow for the use of an office space without all the overhead commonly associated with it.
Is remote work here to stay? All signs point to yet. The business world is always changing, and this is an adjustment both employers and employees will have to learn to contend with.