Deel Survey: Remote Work has Helped to Boost Income and Savings

  • 2022-04-27

According to a survey conducted by the world’s leading remote employee hiring platform  Deel*, which has recently entered the Latvian market, remote work has not only boomed during the Covid-19 pandemic, but has also helped people to balance their professional and private lives, and to apply flexible working hours. Remote work has boosted incomes for over half (59%) the respondents surveyed by Deel in 86 countries. Major benefits of remote work include increased productivity, the opportunity to find a dream job and move up the career ladder faster. 

Remote work has helped people to earn and save more money, with increased salaries and reduced travel and – in some cases – lower living costs because now there is no need to relocate to another home to be closer to be one’s workplace. 59% of respondents state that thanks to remote work, they are now receiving bigger pay; while it has helped 64% of respondents to increase their savings.

Likewise, many respondents point out that remote work has helped them to overcome professional barriers, opening up more extensive job opportunities all over the world, allowing them to work more productively and successfully balance their professional and private life. 35% of respondent assert that the opportunity to work remotely has helped them to find their dream job, while respondents with families including kids up to five years of age stress that remote work has made it possible for them to overcome productivity- and growth-related obstacles in their professional life (92%). Most frequently – 98% – the benefits of remote work are highlighted by Deel platform users under 25 years of age.

“The unemployment level in Latvia is dropping, and this means a significant shortfall in talent. Remote work has opened up the world not only for Latvian businesses that recruit employees from overseas, but also for people in Latvia, who have the opportunity to work outside the capital, regardless of whether it is for a Latvian or foreign company. Acquiring remote working skills could be the real way to ensure prosperity in rural areas. As employees and employers come to appreciate the benefits of remote work, it is becoming increasingly popular in Latvia and all over the world, which is also reflected by the tremendous demand for Deel’s services – in just 20 months our turnover has grown from 1 million to 100 million ARR,” says Liina Laas, Head of Expansion in Central and Eastern Europe at the world’s leading unicorn Deel. 

Remote work has also had a significant impact on the private lives of Deel users. 39% have relocated to be closer to friends and family, 30% now take longer trips, 21% are paying less for their home, 14% have moved to their dream city, and 9% state that thanks to remote work, they have been able to devote more time to improving their health. These changes have helped them to not only find their dream job, but also to acquire new skills, reconnect with their family, start to travel more or find love in a new city. 

During the pandemic caused by Covid-19, women dropped out of the job market more often than men, because a lot of women were forced to quit work to care for their family and children, which was especially noticeable at the height of the pandemic. Both women (83%) and men (73%) with school age children up to the age of 18 years acknowledged that the opportunities provided by remote work helped them as working parents. 

“The coronavirus pandemic has changed the way in which people work forever. It is now standard practice to work somewhere that is not an office, and is perhaps thousands of kilometres away from your employer. Employees have much greater options when it comes to choosing where and how they want to work. There is great competition in the job market, employees expect benefits and incentives, as well as the freedom wherever they want to be. It is no longer necessary to change your place of residence because of work, and if the country where a person lives cannot provide him with the job he wants, remote work means he can seek career opportunities elsewhere in the world. Likewise, it is no longer necessary to subject family life to the upheaval of major changes just because one or both parents have received a great job offer,” explains Liina Laas.

* 889 users all over the world took part in the Momentive online survey from 24 February to 10 March 2022; the results are collated from answers from 667 Deel users, who completed the full survey.

About Deel 

Deel is a leading global compliance and payroll solution that helps businesses hire anyone, anywhere. Deel’s technology offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team.

Using a tech-enabled self-serve process, Deel’s customers can hire independent contractors and full-time employees in over 150 countries, compliantly and in minutes. With more than 250 legal, accounting, mobility, and tax experts as partners, Deel enables any business to create, sign and send compliant localized contracts from a library of templates and pay teams in more than 120 currencies with just a click.

Founded in 2019 by Alex Bouaziz and Shuo Wang, Deel is a fully distributed company with employees based worldwide.