DocuSign, Inc. offers Findings from the “Unlocking the Potential of the Anywhere Economy” study, which looks at the opportunities and challenges that the remote economy brings to people, businesses, and countries. The report’s findings reveal that we have entered an era open to significant business growth and the possibility of experiencing new levels of productivity.
The survey, conducted by The Economist Impact Institute, reveals insights from two global studies developed in ten countries to assess sentiment and experiences among consumers and executives in the USA, Australia, Japan, France, Germany, Ireland, the UK and Brazil. Mexico and Canada. The report reveals that both executives (59%) and consumers (47%) expect the remote economy to continue to accelerate, with an overall positive impact on job creation, expanding online service offerings, and improving equity and well-being.
“At DocuSign, we believe technology can and should be a force for good, a way to uplift and bring people together,” said Alan Thegesen, CEO of DocuSign. “To achieve the extraordinary and potential increase in productivity and expansion of the global economy in the next decade, leaders will need to embark on a new journey based on innovation, transformation, and above all, confidence in our digital future.”
Drive economic growth by increasing productivity and innovation
The report shows that Economy Everywhere will stimulate economic growth by increasing productivity and spurring innovation. In fact, more than three-quarters of CEOs surveyed agree that the flexibility to work anytime, anywhere increases productivity. Innovations, new product requirements and a shift in how business relationships are managed can also improve worker efficiency at the micro level as well.
According to the report’s projections, the remote economy has the potential to drive performance growth, which is defined as gross domestic product (GDP) per worker:
As the remote economy expands, productivity will grow in all 10 countries, increasing by an average of 10% from 2021 to 2030.
The top five countries with the largest increase are the United Kingdom (12%), Canada (11%), Germany (11%), France (10%) and the United States (10%).
It is estimated that the remote economy will add $2.6 trillion to the combined GDP of the ten countries in 2030, adding a cumulative value of $19.4 trillion for the period 2022-30.
Business spending on research and development in all 10 countries is also expected to increase significantly, picking up growth from 29% to 51% in 2030 compared to 2021 levels.) France (47%), Germany (44%) and the USA ( 44%) and Canada (42%).
Talent Expansion and DEI (Diversity, Equity, and Inclusion)
The advent of co-working has allowed organizations to consider candidates from other states and countries, and has also provided new opportunities for people who have been historically underrepresented. A majority (77%) of executives agree that the remote economy has had a positive impact on their ability to recruit from a broader pool of candidates, while over 60% say they have hired workers in new locations because of the possibility of work. office.
At the same time, the flexibility of remote work has improved the experiences of groups such as women, working parents, the elderly, and people with disabilities, encouraging them to continue participating in the workforce for longer.
Two-thirds of executives reported that the adoption of remote work and increased digitization has contributed to the diversification of the workforce, and more than three-quarters agreed that flexible working hours have made their workforce more diverse and equitable. According to the report’s projections, the remote economy:
Bringing an additional 25 million women into the workforce by 2030 alone, the average female labor force participation rate will reach nearly 60% – up from 55% in 2021.
Bringing an additional 10 million people over the age of 65 into the workforce by 2030 alone.
Shifting economic power between rural and urban environments
The remote economy conveys economic power to both rural and urban populations, as people desire to move due to increased flexibility and connectivity. Employees are now convinced that moving to smaller towns can give them better housing and similar access to education and facilities without the constant and time-consuming commute to the office.
Nearly 60% of consumers, for example, say they’d want to live somewhere different if cost, labor, and community ties weren’t barriers.
One in four people are looking for nomadic opportunities and prefer to travel constantly around the world.
17% of companies moved their offices from a large city to the suburbs and 25% reduced the size of their premises. A third of companies have opened more branch offices.
This migration is also driving economic growth in rural areas, with projections that 2.6 million additional jobs will be created in rural areas across the 10 countries studied in 2030 alone. Rural areas, with 860,000 new jobs in 2030.
Making the “Anywhere Economy” a reality
The benefits of the remote economy can only be realized if the new systems are built on trust. There is an implicit conviction in allowing employees to work away from where they can be directly supervised, as in signing a contract with a supplier on another continent or purchasing a product online without seeing it in person.
Deepening this belief at all levels is critical to expanding the remote economy—including across digital systems and technologies, information, employees, and employers, and between consumers and the online businesses they nurture.
The full conclusions can be found in the full report that explores the potential of the remote economy.”
methodology
The Economist Impact, sponsored by DocuSign, conducted two global surveys in September 2022 of 763 business executives and 2,800 consumers in Australia, Japan, France, Germany, Ireland, the United Kingdom, Brazil, Mexico, Canada and the United States. These surveys were combined with interviews with a range of experts, as well as the development of a series of econometric models that examine potential impacts on the economy anywhere – positive or negative – across the ten countries through a variety of socioeconomic lenses.
The Economist Impact also identified four areas expected to be affected most by the economy anywhere, and selected eight indicators expected to be the most significant externalities, including: workplace transformation, workforce and talent pool, egalitarian development, and trade and economic development. . These impacts were measured at the 2022-30 macro level for the 10 countries included.
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