Recession looming? The financial benefits of shifting to a remote work model

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Numerous experts are predicting a recession in 2023 due to factors such as escalating inflation and slow economic development. Businesses that are particularly dependent on the advertising and technology sectors, as well as those that are at risk of a future recession, should take some preventative measures to lessen the potential impact.

Remote work can have a significant impact on cost savings. The shift into remote work caused by the pandemic has given companies insight into the possibilities and benefits of this model. We have seen that organizations that make this change have large cost saving potential, with research showing that companies that move to remote work save $10,600 per employee per year. A smaller organization of 20 employees can save up to $200,000 by making this shift. This change in environment will likely continue to grow more common, especially if a recession occurs this year. For those that can incorporate it into their culture, remote work may be the ideal solution to the challenges of a recession.