August 24, 2022
A few decades ago, the idea of closing a vital deal from the comfort of your living room seemed impossible to conceive. What about refining code architecture while waiting for a plane or working peacefully in a hotel lobby with a hot drink next to you? That only happens to wealthy and flamboyant entrepreneurs in the movies, right?
These scenarios are now possible thanks to technological advances, the transformation of work dynamics due to COVID-19, and the outsourcing boom.
Nevertheless, remote work is not exactly a new topic. The first records of the term date back to the 1970s, when NASA scientist Jack Nilles stated that it was necessary to reimagine work and find alternatives to take job activities home and thus face the economic and energy problems that the nation was going through at that time. Since then, remote work has evolved substantially and is set to stay.
For software development and technology services companies, remote work has catapulted their economic growth and increased productivity, making negotiations with important clients more flexible and opening the way to ambitious projects with excellent coverage. It has also allowed them to offer their workers and collaborators more competitive salaries, endless benefits, and performance bonuses.
1. Profits and productivity
We belong to a highly capitalistic world. That is undeniable. Therefore, one of the pillars of most technology companies is exponential economic growth derived from high productivity.
Based on the Survey of Salaries and Professionals in the Software and IT Sector in Colombia 2021, conducted by Fedesoft and Cenisoft, 61% of the participating companies indicated that productivity had increased after the mandatory change in work dynamics due to the 2020 pandemic. This prompted companies to refine these processes and take advantage of all the benefits resulting from this new reality.
In Colombia alone, it is expected that by 2025, the IT market will account for at least 5% of the national GDP, reaffirming the importance of betting on technology in emerging countries. At the same time, according to the latest WFH report, there was a worldwide productivity growth of 3% thanks to remote work, intending to increase in the coming years.
These are some of the advantages of remote work regarding profits and productivity:
2. Best resources
Software development companies benefit enormously from remote technology services because they gain access to top-performing professionals and the best tools, which translates into closing the best deals and working with the best clients.
Thanks to outsourcing, it is possible to have human talent from any corner of the world, creating a highly rewarding environment where innovative and enriching projects benefit from a diversity of thought. Leaving behind old perceptions that the best professionals are exclusive to developed countries opens businesses up to incredible pools of resources not easily accessible where they are located.
3. Greater business network
A direct relationship exists between economic and production benefits. These two dynamics, present in the same system of companies that provide the same exact service, generate mind-blowing and non-stop innovation, making companies work harder to break records, set the bar higher, and reach more places with greater impetus, quality, and influence.
One of the clearest examples is the economic investment from developed to developing countries, as it enables new cultural blending. This allows the emergence of new business dynamics and the discovery of new talents, from different cultural perspectives; it is also the basis for new projects, establishing networks of collaboration, negotiation, and social impact in the communities and territories of all the involved countries.
4. Narrowing the technological gap
An essential pillar for today’s social conception of remote technology services is the ground-breaking impact that unicorn tech companies have within the market. Most of these companies —if not all of them— take advantage of outsourcing. There are people developing our favorite apps, videogames, and platforms from the comfort of their homes. They give a fresh, innovative, diverse approach to the development processes and methodologies that once seemed to be strict and prescribed.
On one hand, this approach takes the tools and technologies used by developers to shape and redesign the future of technology because of the incipient creative freedom in challenging and high-rewarding projects. On the other hand, outsourcing and remote technology services are closing the technological gap in societies, increasing the interest of governments in Information and Communications Technologies (ICT) and, of course, the advantages they bring to their territories.
5. Occupational wellness
Workers are the backbone of any company, and it is in companies' best interest to have happy workers. At Lean Tech, we onboard top software development talent from Latin America and have a high retention rate. We care about having happy, relaxed, well-rewarded, and inspired workers. Furthermore, companies can provide more significant employee benefits by reducing overall operational and fixed costs for workers.
In the technology services market, more and more people are choosing to leave their old occupations behind and develop their passions in IT environments. This is due to several factors: there is an implicit reduction in expenses such as transportation, food, and clothing; also, a reduction in commuting time between home and the workplace, and greater family enjoyment by working from home or remotely. These reasons alone significantly improve people's quality of life because it reduces work and social stress and general expenses.
In the same sense, it provides greater autonomy, and, in most cases, performance is not measured by the hours of connection but by the results obtained in a space of time. An example of this is the implementation of agile methodologies such as Scrum, which brings clear and concise goals, allowing conscious participation and a personalized pace for each project.
These five elements result from evolving market dynamics that will continue to evolve, innovate and improve software development professionals' standard of living and lifestyle. At Lean Tech, we understand how the market is shifting, that being the reason why we are always at the forefront of these changes to position ourselves as the leading technology services.
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Christian is a professional translator, terminologist, and proofreader; he is also a singer and composer. Passionate about the phenomenology of human communication, music, and food. A creative, proactive, and innovative professional with extensive experience in linguistics project management in areas such as technology, biotechnology, medicine, social sciences, and business processes. Enthusiast of video games and cinematography.
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