Return-to-office calls notwithstanding, many observers expect remote or hybrid work to grow in popularity this year and beyond. Global Tax Network director Tracy Novotny explores the tax and compliance implications corporate leaders need to know for 2024.
The pandemic flipped the corporate world upside down. As a result, remote work and flexible work models have exploded in the past few years. A March 2023 Gartner poll predicted that 39% of all knowledge workers would work hybrid or fully remote by the end of that year.
In 2024, mobility is expected to continue to make its return. One Mercer study found that more than half of companies expect an upswing in workforce mobility this year, and according to the study, 59% of businesses predict an uptick in virtual and short-term assignments, while 56% expect an increase in remote international workers.
However, tax and governance authorities have also advanced, and few corporate leaders realize how exposed to risk their mobility programs are becoming thanks to the increase in remote work and non-traditional work scenarios for their employees. What does 2024 have in store?
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