Could the future of work be remote? For Goldman Sachs, perhaps.
With non-essential employees being forced to work from home to prevent the spread of COVID-19, many workplaces have shifted to remote access in order to keep business afloat. Goldman Sachs CEO David Solomon said 98% of the company’s employees are working from home – and it might cause changes in how businesses function in the future.
“When you go through something like this, it forces you to ask questions and think about things differently,” Solomon told CNBC’s “Squawk on the Street” last week.
While Solomon hinted at change not being so sudden once workers return to the workplace, he felt that remote working has created a trust in employees to do their work from anywhere, which can be used as leverage in the future.
“It will make us more comfortable in providing more flexibility to employees, which, by the way, makes this a more attractive place for people to work,” Solomon said.
Most major financial institutions have sent their employees to work from home as well. The CME Group and the New York Stock Exchange are also closed.
Past research has shown the benefits of remote working, which can increase productivity in the office, improve workers’ overall health, and create a ton of free time by avoiding daily commutes.
Since the outbreak of COVID-19, Americans have been working on average three more hours daily from home, according to a recent survey.