Nepal has changed a great deal since the covid-19 pandemic toppled existing economic systems in 2019. Several people lost their jobs and livelihoods, others rushed to adopt virtual means to resume work. Only essential workers that serve in hospitals, banks, media outlets, food and medicine suppliers, grocery shops, and waste management retained their physical workplaces, under lockdown measures to mitigate the viral threat.
A phase of rapid adoption of technology swept the nation as virtual meetings, cashless transactions, and e-commerce multiplied their user base overnight. In this period of persistent health concerns, the ‘work from home’ model, much untested at the time, presented its viability. This revelation backed by fascinating global research on the effectiveness of remote work has been key to a futuristic workspace, companies are vying to unlock.
What does the data say about remote work?
These key statistics from post-pandemic research present the change in outlook on the ‘work from home’ model:
- 44% of workers globally, are able to work remotely during the COVID-19 crisis, this number is estimated to be only 17% for lower-middle-income countries like Nepal, creating more incentive to make remote work more available.
- 41% of respondents say working from home is more productive, while 28% say it is equally productive.
- 16% of teleworkers consider working from home more engaging, 19% say it is more satisfying, and 11% say they are less likely to quit their jobs than onsite staff.
- 30% of British employees felt that they spend more hours on their work when they are home, owing to greater flexibility.
Global leaders have discovered the utility of hybrid work models that combine the physical and virtual.
A futuristic proof of concept can be seen, currently in the pipeline, when Mark Zuckerberg introduced the Metaverse on Oct 29 of 2021. In the video, we can see Zuckerberg engaging in a meeting with colleagues in a virtual reality office space that is highly interactive and accessible through a home console. The keen investment towards VR and AR technology that blurs the lines between the physical and virtual is a trend expanding across industries.
Acceleration of AI and Automation
The jobs of tomorrow are also accelerating towards human and machine hybrid models. A 2021 report by McKinsey & Company highlights that 1 in 16 workers, which amounts to 100 million workers globally must find a different occupation by the year 2030 due to the post-covid scenario. The International Labour Organization (ILO) made a much starker projection, where 195 million workers faced job displacement in 2020.
As the Covid-19 virus continues to mutate and present new threats with each variant, experts warn. This has fueled the rush towards automation of menial jobs. Companies are accelerating the deployment of automation and AI-powered industries, warehouses, and shops to limit human contact and meet market demands.
The World Economic Forum stated in a recent report that by the year 2025, 97 million new roles may emerge that blend humans, machines, and algorithms. There is already rising demand in the fields of data science, machine learning, and robotics engineers alongside programming and cybersecurity.
Where Nepal stands in the Global Marketplace of Innovation
Nepal shows considerable promise to become a global leader in outsourcing. Nepalese tech professionals are building a strong rapport for quality software development, data science, and engineering skills across the globe. Nepal as a global hub of software outsourcing and innovation is steadily gaining recognition on the world stage.
You can tune in to our podcast for exclusive industry insights from top IT professionals in Nepal. Explore the scale, scope, and magnitude of work they are performing, in and out of the nation, and discover Nepal’s prospects on providing software solutions to worldwide businesses.
Furthermore, the pandemic has enhanced investor confidence in remote teams, incentivized through the availability of reliable data and the low cost of remote FTEs. Nepal, in particular, is greatly favorable for building a startup with low cost and high employee lifecycles. An increasing number of IT companies are also bridging the skill gap through Bootcamps and certifications, training developers in Nepal to meet global competitive standards. Nepal is a burgeoning tech scene, full of talent, opportunity, and potential to become the next global tech hub in the near future.