Product Habits - Why remote work won’t go away

At the end of 2019, I thought that remote work had lost steam.

After all, remote work was all the rage for most of the year and I figured people were tired of hearing about it.

I was wrong.

I’m still asked about remote work everywhere I go and by nearly everyone I meet. And it’s a segment of every podcast that I’m on.

Remote work is still the topic du jour.

I think I’ve figured out exactly why.

You see, I followed the money.

Mountain View, New York City, San Francisco, Washington D.C. and Oakland are the top five cities with the highest cost of living in North America.

Three of these top five cities are in Northern California alone.

Average salaries have been steadily on the rise, too. With San Francisco paying the most for workers in tech, at $145k on average.

But if you’re willing to hire out of Paris, that average drops to $60K. I’m not even picking a small town in the middle of nowhere, Paris is a major global city. You can still cut salaries by over 50% by hiring remote workers there instead of local folks in San Francisco.

Is there a difference? Absolutely. If you want to find a huge pool of startup executives, sales people, and engineers, nothing comes close to the San Francisco area.

Don’t even get me started on the office leases.

I am cherry picking my data but the point still stands.

Major cities have gotten so expensive to live in that more and more companies are seriously thinking about having a distributed workforce.

This might seem strangely familiar.

You might be remembering the vague memory of when Fortune 500 companies started to embrace outsourcing and offshoring. Everyone was talking about it. And everyone was trying it out too.

Today, you could say that remote work is the new outsourcing. An unstoppable movement born out of the need for businesses to keep costs under control.

What do you think?

Hiten

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Product Habits - Why remote work won’t go away

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