[Work Revolution] The Concept, Space, and Form of Work Are Being Deconstructed and Reassembled... "Remote Work Continues Even After COVID"

[32nd Anniversary Special - The Revolution of Work]
Survey of 150 Domestic Companies
60% of Companies "Plan or Consider Remote Work Even After COVID Ends"... 85% Positive Response Rate for 'Satisfied with Work'
Non-face-to-face Skill-Centered Job Market, Job Loss Concerns... Bloomberg "Disappeared Jobs Crisis: Shift from Temporary to Permanent"

[Asia Economy Reporters Hyewon Kim and Hyunjung Kim] "We stand at a turning point. What will the future of jobs look like after the novel coronavirus disease (COVID-19)?"

The new book by renowned futurist Jason Schenker, The Future After COVID, begins with curiosity about the dual nature of a future none of us living in the COVID-19 era have ever experienced. Schenker, who focuses especially on the changes brought by the 'work revolution' triggered by COVID-19 and its two sides, emphasized in a recent interview commemorating Asia Economy’s 32nd anniversary, "Telecommuting (working from home), catalyzed by COVID-19, is highly likely to create a more dynamic employment environment for both employers and employees," adding, "Although it may cause some degree of alienation, I fundamentally believe it will improve quality of life."

COVID-19 rapidly dismantled and reassembled the spaces, forms, and relationships of work. We typically call such a transformation a 'revolution.' The imaginable changes are as follows: New York and Silicon Valley, known for their exorbitant rents, will relatively lose their grandeur, while suburban cities like Austin and Charlotte will emit new appeal. This revolution could erase tedious commuting times and unnecessary face-to-face meetings from our daily lives, instead gifting us with more leisure time with family or a 'YOLO (You Only Live Once) life.'

On the other hand, the contactless (untact) skill-centered job market inevitably fuels workers' fears of job loss. Bloomberg reported, "The status of jobs lost due to COVID-19 is at risk of shifting from 'temporary' to 'permanent,'" diagnosing that "the intensity of the reallocation shock reshaping the global economic and social structure due to COVID-19 is increasing." Instead of rents in big cities falling, the cost of staying in the suburbs may rise. Without proper legal and institutional adjustments, rapid encounters with new phenomena will likely cause social confusion and conflict for the time being. As history has repeatedly proven, the adverse effects of pandemics inevitably set traps of polarization. However, as with all revolutions, crises and opportunities come hand in hand.

Domestic companies are also preparing for the work revolution. On the 15th, Asia Economy conducted a 'Survey on Corporate Work Styles and Perceptions Triggered by COVID-19' targeting 150 domestic companies (industries, finance, ICT sectors), revealing that 6 out of 10 companies plan or are considering introducing work-from-home after COVID-19. Among 127 companies that have experience implementing work-from-home since the outbreak, 58.2% (13 companies planning to continue and 61 companies considering it) intend to maintain or review its adoption. Even among other respondents (12 companies), many expressed opinions such as 'considering it but difficult to answer yet,' indicating that a significant number of companies are contemplating changes in work styles from a mid- to long-term perspective triggered by COVID-19. When asked about work satisfaction among companies implementing work-from-home, 85% responded positively.

Leading major corporations, including SK and Lotte Group, are pioneering bold attempts such as introducing a four-day workweek. However, many also complain about side effects from the rapidly changed work styles, such as blurred boundaries between work and personal life or decreased collaboration efficiency, presenting the challenge of minimizing trial and error. COVID-19 will remain part of our lives for the foreseeable future. Among the 150 companies participating in this survey, 67.3% believed the impact of COVID-19 would 'last for a considerable period (more than six months).' The proportion of those who said they would 'withhold judgment' was also as high as 20%.

This is why various sectors?public, private, and academic?must quickly come together to address the unexpectedly early arrival of job changes triggered by the unforeseen variable of a viral outbreak. Professor Gu Jung-woo of the Department of Sociology at Sungkyunkwan University advised, "In the process of social discussion, laws and systems must be well developed in a way that does not widen but rather narrows the gaps among stakeholders."

Accordingly, Asia Economy examined the lives of those boldly challenging a revolution beyond innovation triggered by COVID-19. This is not a story from a distant country but one about the lives we face right now, living by work. The special anniversary project 'Work Revolution' aims to serve as a compass for this.