PrivCo Logo

The Future of Work

The Future of Work
November 1, 2021

The Daily Stack is a daily private market insights newsletter by PrivCo, a private company intelligence platform. Read our previous insights.
Have an interesting topic you want us to include, let us know!

A recent afternoon outing with a friend was a great example of the changing terrain of 9-5 employment. It was 4 pm on a Tuesday when she made her way through Brooklyn’s congested streets to pick me up en route to the Brooklyn Botanic Garden. Though technically within business hours, she was nowhere near her computer and the only meeting she had in mind was with me, the park, and a bowl of Silver Rice afterward. 

Then a Zoom call came through after a flurry of Slack messages, and her team “hopped on a call.” She joined and as we slowly made our way through traffic, three managers plotted the workflow and deliverables while we and several others, camera off, listened in. There wasn’t anything for her to do or say, but the act of showing up clarified both the flexibility and grip of the current work-from-home lifestyle. 

Managers reading this might be horrified by this blatant misuse of company time. But for many, this is a calculated and responsible use of one’s time, a small allowance of flexibility when your work is done for the day, and the daylight hours are quickly receding.

  

Productivity in Pajamas?
It’s estimated that remote workers will make up 30% of the global workforce by the end of the year, and as many as half of all knowledge workers will be working remotely in 2022. From a bottom-line standpoint, the question is, what is more productive? For all the micromanagers anxious about not seeing their employees at their desks all day, note that 34% of all remote workers report greater productivity since the pandemic’s start, and over half of all executives see an improvement. Despite daily breaks to walk the dog or pick up a prescription, remote workers often log longer hours, with less commute time and more digital connectivity through tools like Slack & Zoom.

No Going Back
There’s also the matter of workers dictating the terms of their employment. As many as 73% of workers want remote work options to remain post-pandemic. With a labor shortage persisting, particularly in tech, bargaining power is tipped in the favor of those workers. Advantages for employers include smaller office spaces and a greater pool of talent outside the HQ location. Mental health and flexibility for families have become top priorities for people during this reshuffling of the workday.

The hybrid work model is arguably the best path forward. It gives employees a break from Zoom fatigue, the regular commute, and hopefully, pointless meetings. However, the model may eventually fall out of favor, as in-person workers are more likely to be promoted and of course, there are the tangible benefits of networking. Even still, the boon of the pandemic’s rapid acceleration to online workflows continues for collaborative software companies.

There’s been little reason to spend their Series A on office space for startups developing their teams during the pandemic. In fact, their remote-first hiring can be a winning tactic to luring away those reticent of returning to larger tech companies with campuses of unused office space. Perhaps we can trust our teams to do the work from home. If you’re a weary manager, maybe don’t read this article about workers double-dipping in full-time remote work.

For enterprise software companies fueling remote work viability, check out our report, or search the database keywords “workflow management.”

Since last week, PrivCo has added:
948 Companies | 84 Funding Activities | 51 M&A Deals

Looking for data integrations? Contact us today.

Funding & Deal Highlights:
 

SlashNext raises $26Mm from Tom & Matt Gallo

Industrial Products • Round B • Pleasanton, CA
 

Anomalo raises $33MM from Norwest Venture Partners

Phishing Defense • Round A • San Francisco, CA
 

Cover raises $60MM from Gigafund

Modular Houses • Round B • Los Angeles, CA
 

Persefoni raises $101MM from Prelude Ventures

Climate Accounting • Round B • Tempe, AZ
 

ProLogium raises $326MM from dGav Capital

EV Batteries • Round E • Taiwan
 

Ontra raises $200MM from The Blackstone Group

Legal Tech • Round B • San Francisco, CA
 

ShiftMed raises $45MM from Panoramic Ventures

Nursing Recruitment • Equity • McLean, VA
 

Gluware raises $43MM from Bain Capital

IT • Equity • Sacramento, CA
 

QuickNode raises $35MM from Tiger Global 

Blockchain • Round A • Miami, FL
 

Deserve receives strategic investment from Visa

Fintech • Equity •  Murray, UT

 

Forward to a Friend Forward to a Friend
Not a subscriber yet? Sign up here.
Have an interesting topic you want us to include. Let us know! 
Website
Twitter
LinkedIn
Copyright © 2021 PrivCo Media, LLC. All Rights Reserved.
Unsubscribe | PrivCo.com | Contact Us
PrivCo Logo

Company

HomeSign inContactPricing