The Great Work From Home revolution and how CityCoin could play a role in changing the power dynamics of who the power player cities are
Over the past year, a massive number of employees have been working from home regularly. With the progress of vaccination, there is a huge debate going on about remote work, work from home, work from anywhere, and return to the office. This debate may take a while to play out but it is exposing some significant issues I wanted to get into and discuss how crypto and other project used for city betterment can be pivotal in shaping the results in certain cases.
First I will discuss what is happening with those companies who are trying to do a hard return to the office and how they need to be careful as workers at least for the vast majority want some level of flexibility and the long term plan should be driven much more by an open and honest discussion with employees vs singular management decisions. Those companies who do not work with employees and press hard and fast roles can expect to lose some of the stronger workforce candidates. They may think they are trying to save their city by getting the office workers back downtown to use the businesses or offices to build a culture or foster innovation. While there may be some minor truth to that it is mostly fairy tales as there is more to culture and innovation and downtowns will need to adapt to a new normal.
Next, I will discuss how Work from home, Work from anywhere, and hybrid structures have the potential to change the work and why cities and communities should lean into this vs complaining about offices not bringing people back to the hustle and bustle of downtown. First off very few people miss their daily commute especially if it was long and caused them to have a high cost of living and low quality of life. This means they are asking the question of “why should I stay?” This could mean staying with a company that is pushing a policy that they dislike or it could me stay in a town or city that has lost its appeal to them when their work has expanded their horizons and the current landscape with high worker demand has changed the worker dynamics and employees are not the same as they were before the pandemic.
In Short, things are not going back. We may not know what they are going to look like exactly but there are great ways for potential innovation to come about in this new world and reset the power structures of old. CityCoin could play an epic role in this if done right. Imagine the following possibilities to enhance why people migrate to a city and how a city really works to attract a population that can truly vote with their feet.
- Subsidized professional networking spaces: With a new influx of people in various industries migrating to cities that may not be familiar with the local scene there needs to be a way for cities to show their value to their new residents. The reason for an initial move may be things such as tax differences, lower cost of leaving, and better weather but what keeps a person in a city is roots (friends, family, community, etc. ) In the new world cities will have to compete to create these things or risk losing populations to better places and eroding tax basis. One way to do this is to provide networking opportunities and ways for new residents to truly get to know where they choose to live. This can be hard and usually, relationships come through workplaces but in a remote world, you need to change the game by fostering connections that would not normally happen and allowing people to really form a connection with their city. Subsidized networking spaces could allow for city officials to connect with their constitutes regularly to ask for what they want to see developed. CityCoin could provide an avenue for funding new projects. For example, say a city needs a new recreation center that has attracted many new residents but doesn’t have a forum to express their plans and advantages the project could linger and go unnoticed for years. This happens all the time in the current environment but flip the script and create a forum to bring the community together get new and old citizens involved and figure out what really matters and let innovation take its course and you get a true peoples government vs political talking points with nice ideas but no action.
- City redevelopment and revitalization funds to repurpose unused office space: Office vacancies are up in many major cities and even though some organizations are trying desperately to call workers back to offices many are running into walls with this hence why many are looking at hybrid and full remote options. this means footprint cuts and less need for high-priced commercial spaces. Companies are experimenting with what I would call swing offices where they rent a shared small space for monthly meetings but spend the rest of the time working from home. These new practices mean a lower average level of corporate and luxury type office space in places where space has always come at a premium. City redevelopment and revitalization funds give cities a way to find repurposing of the spaces. Some potential could be temp housing for homeless populations that need to get back on their feet, industrial development spaces to provide business and innovation centers for underprivileged communities, etc.
- City professional growth grants to attract those remote workers from non-standard industries that can bring new job bases to locations: Many cities and towns want to grow their populations and offer grants and payments to people who come to live there this may be good for an initial attraction but with CityCoin they could go beyond this. For example, offer a CityCoin grant for non-traditional industry professionals to come there and offer a reward if they can help establish new opportunities for the local residents or potentially bring in other contacts in non-traditional industries diversifying and growing cities and towns into more diverse communities with greater opportunities and reason for people to come.
These are just some of my thoughts on the new normal and what we are seeing in the ever-changing ecosystem and how crypto can have an amazing role to play in the future.
This is not and should not be taken as financial advice.