Working from Home: Embracing Change
Whether we’re browsing social media or skimming articles on our favourite websites, we keep coming across the same theme: change. With everything 2020 has thrown at us thus far, it’s up to us to decide whether we embrace these changes or reject them. These changes might affect our everyday lives or maybe only a small portion of our personal norms; however, it’s important to approach them effectively.
Entrepreneur published an article written by Mitchell Terpstra earlier this fall outlining five major changes expected to stay as a direct result of the increase in remote work:
Many employees will consider relocating
Eliminating the need to commute has enabled employees to find budget-friendly accommodation outside of major cities
Compensation strategies will have to adjust
Compensation might be adjusted to reflect market rates in certain areas or reflect national averages
Retaining talent will become more difficult
An increase in remote work options combats employees geographical barriers
Work culture will be harder to establish
With more employees favouring a strong workplace culture over salary, businesses will need to work harder to ensure employees are feeling “central, rather than peripheral”
New means of monitoring employee productivity will evolve
Although studies have found that employees are more productive when working from home, employers will need to invest in improved tracking software
We found this article to be a great representation of what to expect in the coming months in terms of new norms associated with remote work. Although the article primarily focuses on benefits to employees, it does slightly hint towards the cost-saving benefits of remote work for companies. For example, the article discusses a study that revealed how remote work can potentially save businesses upwards of $10,000 per year per employee.
On the business side of remote work, companies will also have the opportunity to save on overhead due to the reduced need for large branches or office space. In addition, with the increase in productivity, some employees are putting in more hours throughout the week, which in turn is directly related to their quality of work and an overall benefit to the business. However, this can also negatively impact employee mental health by contributing to burnout, as mentioned in our previous blog (10 Tips for Working from Home).
In relation to talent retention, this can also be seen as a benefit to employers due to the increase in access to talent. These reduced barriers for employees translate into opportunities for employers to capitalize on individuals outside of their regular geographical areas, which can increase the likelihood of finding a perfect candidate.
We will definitely be embracing these new changes, but we will also be cautioning ourselves and taking an approach that promotes positive workplace culture and healthy work relations.
Ask yourself the following question: Is cutting costs as important as maintaining healthy work relations or creating a positive workplace culture? Keep in mind, those relations and culture play key roles in overall work performance and productivity. If your answer is the same as ours, then we know you’ll focus on helping your employees make the most of their at-home work experiences.
Source: Terpstra, M. (2020, September 18). With Working from Home Here to Stay, Expect These 5 Things to Change. Entrepreneur. https://www.entrepreneur.com/article/356222#