Remote work has always been an option available in most organizations, but recently, every company has started offering work from home after the pandemic. However, significant change in work and productivity has been noticed.
People who work remotely are more likely to keep their jobs than the displaced workers in sectors most impacted by the novel corona virus-like hospitality, tourism, travel, and retail. According to the Future of Jobs Report, most employers are not quite certain how hybrid working and remote-working can pan out in the long term.
Covid-19’s impact on the world’s economies and livelihoods has vaulted from serious to catastrophic at the macro level. The USA’s exact development when claims from unemployment insurance increased over 6M inconsecutive weeks. In countries with large informal economies, the government decrees aggravate the crisis by dictating self-isolation, social distancing, and the nonessential businesses’ closure.
Productivity at Home
Most of the business leaders surveyed and expected a 78% negative impact in the current way of working and expected a 22% strong negative impact, with only 15% believing that it’ll have positive or no impact.
- Here are the three likely reasons for this skepticism identified in the report:
- Individuals with kids face additional pressures.
- The switch to remote working is happening during additional stress caused by risks linked with the Covid19 virus.
- The newly remote working companies are currently ensuring a communication flow and establishing a sense of community in the post-lockdown world.
Less Office Space
The need for large physical office spaces will soon come to an end. Waking up in the morning to go to work every day will become a thing of the past. And believe it or not, but companies are already taking steps in this direction. Another strategy may be to have specific days for in-person collaborations and meetings with other days allocated from remote work.
The offices might be reorganized and redesigned by getting rid of cubicles and creating more collaborative meeting spaces.
A business would easily save $11,000 per person every year by providing the employees the ability to work remotely. The remote workers have reduced the amount of real estate you need, meaning that you are pouring majorly less money into buying or renting office space. A remote workforce can easily cut down on the costs of keeping an office functional like phones, computers, electricity, heating, and air condition.
Attract Top Talent
Remote work greatly expands the talent pool. Companies that refuse to support work from home are at risk of losing some of their best employees and turning away tomorrow’s top talent. The best part about remote work is that you are no longer dedicated to geographic locations; you can get anyone working anywhere by simply offering the work-from-home opportunity.
When you recruit from a larger pool, to have a better opportunity to increase diversity at the company. This gives you the option to hire from various regions of your country and worldwide – benefit yourself from different ideas and perspectives that people bring.
Supporting Mental Health
Remote workers face potential well-being and other mental health challenges because of extensive changes to working practices and new areas of exclusion like access to digital connectivity, additional care responsibilities, and living circumstances faced by parents and even those looking after the elderly relatives.
According to a Gallup poll, workers who spent 60-80% of their time away from the workplace had higher engagement rates. Without a doubt, multiple factors contribute to increasing productivity. The study also discovered that working at home is less distracting and easier to concentrate on work at home. Plus, employees work better at home, even if it means late at night or early in the morning. A happy employee, as a result, adds extra hours at work per week.
There is so much that can be gained by simply working at home, so why isn’t everyone doing it? Many people are a little scared to make that jump; the fear of the unknown is pretty common. But no one can deny the productive statistics. It is natural to face challenges, but you minimize the challenges and maximize the remote workforce’s benefits with certain strategies.
We still do not know how long the pandemic will last. While Germany and Europe have shown first signs of encouraging travel demand recovery, other geographies, including the United States, have not controlled the spread effectively. Despite the increase in the number of Covid-19 patients, there has been an increase in bookings and searches.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.