What You Need To Consider When Deciding to Apply Long Term WFH Arrangements
The COVID-19 pandemic has affected our working habits in several ways. From having a 50% capacity in the office to implementing a work-from-home (WFH) arrangement, companies worldwide are taking measures to ensure their business operations continue.
Although it may seem temporary, the WFH setup produced many advantages in terms of company finances and employee productivity. That said, many companies and their management are likely to consider a long-term remote setup. To give you an insight, this article will discuss several points about the long-term WFH scheme and how it could benefit your company.
Financial Implications of Long-Term WFH Arrangements
Operational costs can take a toll on your company’s finances. You have to settle rent, electricity, water, office supplies, and other services to accommodate the needs of your employees. By having your employees work from home, you can greatly reduce your overhead expenses.
On the other hand, implementing a long-term WFH arrangement may introduce you to new expenses such as WFH allowance, data or WIFI assistance, and software packages to ensure that your employees can maximize their work and mimic the regular output they produce when working in the office.
Maximizing Your Workforce Capability
Several studies have proved that WFH setup produces a higher rate of employee productivity. Telecommuting can result in lesser absences, higher output, and better communication between teams, especially for companies that rely heavily on online resources to conduct their business.
According to a study conducted by Stanford University, remote employees are 13% more productive than those who work in the office. The study claims that the increase in performance resulted in a more convenient and quieter workplace.
Remote work may also allow you to hire the best candidates without geographical restrictions. It also allows you to remove the stress of commuting. Almost a third of an employee’s time is devoted to commuting, which can be very counterproductive. In the Philippines, employees in Metro Manila take 2-3 hours on average to commute to work which wastes energy that could have been allotted to work and other activities.
Increased Employee Well-Being
Besides higher productivity rates, working from home can significantly increase your employee’s overall well-being. It facilitates a strong work-life balance since employees are allowed to manage their own time and customize their working environment to their personal needs.
By considering the implementation of a long-term WFH setup, you may benefit from:
- Lower Attrition Rates. Remote work produces a strong work-life balance resulting in high satisfaction rates. This lowers the chances of costly turnovers amongst your employees.
- Increased Employee Morale. Besides having productive employees, you also gain employees with high-quality outputs.
Having healthy employees benefits your company in many ways. These examples are only a few of the many benefits your company can gain from a long-term WFH setup.
Environmental Impacts and Sustainability
Sustainability and eco-friendly choices are a trend among companies in efforts to keep our environment clean and healthy. Since the implementation of WFH worldwide, environmental impacts such as improved air quality and lesser carbon emissions became evident.
Remote work can positively impact our environment through these aspects:
- Decreased Carbon Emissions. With lesser people commuting to work, the need for cars, busses, and other forms of transportation is significantly reduced resulting in lesser carbon emissions.
- Decreased Energy Consumption. Companies no longer have to consume a large amount of energy while operating, especially those in office or white-collar industries.
- Less Paper Waste. With the rise of technology, the need for paper becomes less and less. By allowing our staff to work remotely, you can significantly reduce your company’s need to consume paper by shifting into digitization.
Besides fostering a healthy work environment for our employees, taking advantage of technological advancements to help our environment allows you to position your company as a good corporate steward.
Technological Capabilities of Your Employees
Remote work may require a set of technological or system requirements to help your employees remain efficient and productive throughout the day. Depending on your industry, you may need to invest in several devices to ensure your business continues without suffering constant delays due to technical difficulties. Having a proper WFH setup enables employees to perform better in their own workspace.
In general, a mid-range desktop or laptop is needed for one employee to perform at an optimal level while at home. A stable WIFI or data connection is also needed to ensure that employees are connected and communicate effectively, especially during team meetings.
Implement A Long-Term WFH Setup with Ease
Working from home can have its own set of advantages and disadvantages. With these aspects in mind, you can decide whether it is wise to consider a long-term WFH arrangement for your company and ensure that it benefits both you and your employees in the long run.
Gathering information and employee insight is the best way to know if your company is ready for such an arrangement. If you find it too exhaustive, you can always reach out to talent acquisition and recruitment firms to assist you in narrowing down your employee’s needs in a WFH setting.
Create A Hassle-Free WFH Arrangement
With a full suite of employee management strategies, KCG is dedicated to helping you create a WFH experience that benefits both your employees and your company.