Within the Richmond space, the report stated that individuals who profit most are more likely to work in high-wage, high-skill occupations – skilled, scientific, finance and administration – and dwell in prosperous, predominantly white communities in western Henrico, the place the research estimates 32% of employees are employed in companies that permit distant work.
“Distant-capable employees in Baltimore and Richmond usually tend to reside in suburban areas as a substitute of neighborhoods close to the metros’ central enterprise districts,” the report states.
A considerable shift towards distant work might have long-lasting results on commuting, recruiting and demand for workplace house.
A nationwide survey of 278 executives by McKinsey in August 2020 discovered that on common, executives are planning to cut back workplace house by about 30%. “Demand for eating places and retail in downtown areas and for public transportation might decline in consequence,” the report says.
Whereas trip and leisure journey is predicted to return after the pandemic, distant work may additionally put a dent in enterprise journey as videoconferencing and different instruments have change into extra prevalent through the pandemic, in response to the report, which concludes that about 20% of enterprise journey, probably the most profitable phase for airways, might not return.
“This is able to have important knock-on results on employment in industrial aerospace, airports, hospitality, and meals service,” the report says. “E-commerce and different digital transactions are booming.”