As of just a year ago, the business world could only speculate that the future of work would be remote. Now, in a baptism by fire, companies around the world are learning to work remotely for the first time, their operations rocked by the reality of workers in quarantine and isolation. No commercial real estate sector will go untouched.
But a number of proptech startups for whom remote work is the status quo are riding out the COVID-19 storm relatively undisturbed. Among them is Envelope, which creates 3D city map software to help real estate professionals analyze, visualize and run scenarios on development potential under zoning laws, and where employees have had flex hours and the option to work remotely since the company's 2015 launch.
“We've never required in-person presence,” Envelope CEO Cindy McLaughlin said. “We've allowed, and encouraged, people, to work from anywhere, anytime, as long as they get their work done, communicate their progress and are available for scheduled all-team, video conference-based check-ins. And it has served us extremely, sometimes surprisingly, well over the years.”
SelectLeaders talked with McLaughlin about several ways remote work has helped Envelope and companies like it grows and thrive. It raises the possibility that after a few months of quarantine — or by some estimates, 12 to 18 months — companies that have effectively adapted to remote working may not want to go back their old ways.
Lower Overhead
McLaughlin said a remote team allowed Envelope to keep office-related overhead low when cash was tight. Indeed, remote companies generally have fewer fixed expenses than companies with brick-and-mortar offices.
For these companies, not needing to host workers in an office nor pay for food, amenities or supplies is built into the budget from the beginning. For those just trying out the approach in response to the pandemic, they still stand to save on utilities, transportation costs, staff meals, office supplies and other operations expenses that could support payroll or other needs.