Four years after the onset of Covid-19, opportunities for remote or hybrid work remain widespread. As well as providing flexibility for employees, these arrangements also pave the way for workers to ‘cushion’ their financial wellbeing in the face of economic uncertainty.
This is because remote or hybrid setups make it easier for people to work for more than one employer, a practice called ‘career cushioning’. Workers are able to have an income to fall back on in case of layoffs or other changes in circumstance.
This was one of several insights found in the latest Chief of Staff Asia research paper, on remote working. Navigating Remote and Hybrid Work Boundaries in Southeast Asia, available now, is now available for subscriber download here.
According to PwC’s Global Workforce Hopes and Fears Survey 2023, one in five employees works outside their primary job. Of these, 69% cited the need to earn more money in response to the state of the global economy and an unsteady job climate.
While multiple employment is not a new phenomenon, the rise of remote and hybrid work has allowed more people to increase their earning potential.
As well as providing multiple employment opportunities, remote has afforded more opportunities for disadvantaged groups to earn a living without compromising their health, safety, or familial obligations. These include persons with disabilities (PWDs), the chronically ill, the aged, women with default household responsibility, and even the neurodivergent.
Remote and hybrid arrangements are also beneficial for workers limited by geographical location. In many Southeast Asian countries, more than 80% of economic activity is concentrated in cities, according to 2017 World Bank data. Provincial residents often flock to major cities or even go abroad in search of higher-paying jobs.
Flexible work provides more options for these people, allowing them to increase their income and thus support their families and safeguard their financial wellbeing. It also allows them to widen their own networking and upskilling opportunities. In providing remote opportunities, organisations can increase diversity, equity, and inclusion outcomes, and in general contribute to a more vibrant economy.
