5833 replies to this topic

[LeoVictoria]

Big difference in economies in 20 years. The biggest impact will come from the fact that the workforce and business is far more global now. 20 years ago there wasn't even the thought of someone telecommuting to a job 2,000 km away.

There are winners and losers. The winners are workers who have the skills that allow them to live in Victoria but work for global firms. Those workers get paid in USD. The losers are local businesses who cannot compete with those wages. Already we are seeing that in tech, finance, and professional services. Most local companies cannot recruit the staff they need to grow their businesses as they cannot compete on wages.

I wonder how many in Victoria have this situation (working remotely for US company). I suspect it’s a pretty small number overall. Big US companies still want employees collocated.
And if they want a Canadian presence they build one. Amazon is not expanding to 5000ppl in Vancouver for no reason.

[Mike K.]

The reason is the CAD is weakening, so they’ll save millions in wages and medical insurance/benefits.

They’d have opened HQ2 in Canada if the global talent they seek wanted to live here, but they don’t, so they didn’t.

[spanky123]

I wonder how many in Victoria have this situation (working remotely for US company). I suspect it’s a pretty small number overall. Big US companies still want employees collocated.
And if they want a Canadian presence they build one. Amazon is not expanding to 5000ppl in Vancouver for no reason.

You would be surprised. I have heard numbers as high as 1/3rd when you consider fully remote employees as well as those working in remote offices.

[LeoVictoria]

You would be surprised. I have heard numbers as high as 1/3rd when you consider fully remote employees as well as those working in remote offices.

1/3 of what?

[spanky123]

1/3 of what?

1/3 of workers in those sectors.

[Mattjvd]

I have a few friends who work remotely or are self employed and paid largely in USD or GBP. They're licking their chops at the thought of the dollar falling another 10 cents or more.

Edited by Mattjvd, 20 March 2019 - 04:35 PM.

[tjv]

I think the number is extremely small, <500?.  I know several people who commute on Monday morning to Seattle to their job at Microsoft before they return to Victoria Friday afternoon.  

 

Speaking from my experience I have had head hunters call me and I lay down the conditions:  Option A:  I work from home in my fully equipped home office or Option B:  the company pays for return airline tickets, rents me a suitable executive condo or house and pays LOA.  Most companies want Option B, but don't want to pay for it because they add up the cost, even thou I could easily telecommute

Edited by tjv, 20 March 2019 - 04:46 PM.

[Victoria Watcher]

Less than 500 people working remotely at home in Victoria? It’s more likely around 15,000.

[sdwright.vic]

^You become more and more of a riddle, wrapped in a mystery, inside an enigma.

[Greg]

I know of maybe a dozen people doing project management, statistical analysis, or programming activities in Victoria for US-based Contract Research Organization (CRO) companies involved in clinical trials. That's just one small sector. I think many people badly underestimate how many remote, home-based, employees there are in many fields these days.

[Mike K.]

I used to earn USD.

It’s a lot more common than most people think.

[Victoria Watcher]

A study released Tuesday by Zug, Switzerland-based serviced office provider IWG found that 70 percent of professionals work remotely — a phenomenon known as telecommuting — at least one day a week, while 53 percent work remotely for at least half of the week.





https://www.cnbc.com...-iwg-study.html

[Nparker]

Less than 500 people working remotely at home in Victoria...

Fewer than...

[Victoria Watcher]

hmmmmmmmm

[Victoria Watcher]

Less is also used with numbers when they are on their own and with expressions of measurement or time, e.g.:

His weight fell from 18 stone to less than 12.

Their marriage lasted less than two years.

Heath Square is less than four miles away from Dublin city centre.

You can read more about using less and fewer on the Oxford Dictionaries blog. Here you will find tips on how to use less and fewer correctly as well as exceptions to the general rules about their usage.





https://en.oxforddic...e/less-or-fewer

[LeoVictoria]

The question is not how many people work remotely, the question is how many people work remotely for US companies and thus get paid in USD. I think tjv’s guess is closest. Not a lot. I really doubt 1/3 of the tech sector which VIATEC estimates at about 17,000

Edited by LeoVictoria, 20 March 2019 - 06:51 PM.

[Nparker]

Less is also used with numbers when they are on their own and with expressions of measurement or time...

I stand by my answer, but I am pleased to see you took some time to do some grammatical research.

[dasmo]

My business has US clients who pay in USD. When I am contracted internationally for my other talents I am also paid in USD. Its equipment and software that are my main costs that go up but rent and insurance and labour doesn’t so it’s a net benefit to me personally if the dollar is low.

[spanky123]

The question is not how many people work remotely, the question is how many people work remotely for US companies and thus get paid in USD. I think tjv’s guess is closest. Not a lot. I really doubt 1/3 of the tech sector which VIATEC estimates at about 17,000

 

As far as I know Viatec doesn't publish a breakout. All you need to do is look at the tech jobs boards and you will see at least half of the jobs being advertised are from out of town firms. 

 

It is good money while you can get it. Risk is that the dollar increases or that we have an economic slowdown as remote workers usually get hit first. It also adds nothing to the local economy other than wages since no product or service is actually created here.

 

A foreign company can hire someone here for about 25%-50% less than it would cost them for a local resource plus they benefit from much lower health care (US) and social services (EU) costs.

Edited by spanky123, 21 March 2019 - 08:27 AM.

[Mike K.]

Local income earned from foreign companies creates wealth in Canada.