I don’t know that everything claimed in this piece by Chris Herd will come to fruition, but this one is absolutely true:
A physical office means you can hire the best person you can afford in a 30-mile radius, disqualifying you from 99.9% of the world’s talent.
Remote teams can hire the best person they can afford on the planet.
More than this, they can very likely do it at a better price too. I’m a remote worker living in Louisiana. The company I work for is based in Seattle. There is no doubt in my mind that hiring and retaining someone with the same talent in Seattle would cost the company more than it costs them to have me in Louisiana. Let’s forget about the hard costs associated with having an office or desk space, and other onsite benefits, but just on salary alone, I cost less, because I can cost less, and I’m willing to cost less in exchange for being able to live where I choose.
As we watch places like Silicon Valley and other major cities with large tech companies continue to see the cost of living, and housing, skyrocket as these companies require more and more people to be local, we’re absolutely reaching a breaking point, where very few people can afford to live where the company wants them to, and they’ll either have to keep raising salaries, or figure out something else.
Hiring people without making them deal with the high cost of living in the area, is a pretty easy switch to make in 2020.
Anything else is just not sustainable.