Reduced office requirements and cost savings
When you provide your employees flexibility to practice telecommuting, you allow the company to reduce on office requirements such as printing costs, office equipment, office rental and utilities. This allows the company to use the cost savings on other direct income generating costs such as online marketing and advertising.
In the future, it may be likely that smaller office spaces would be in greater demand, this would be so especially for the serviced based industry where no manufacturing or construction work is being carried out. With an estimate of around 50% of the workforce alternating of working from home and office, companies will not want to commit to a large office space with higher rental.
Increased productivity
Working from home allows majority employees to work on a schedule that reflects their lifestyle. In addition, there may be fewer distractions from colleagues at home than in the office. This is because in an office setting you can often be disrupted when there are various face to face requests for deliverables and favours from colleagues at work. However, if you are working from home, the disruptions may be not be so intensified as they are mostly in the form of emails or online meeting appointments.
Employers have to ensure that they implement remote collaboration tools such Zoom and remote accounting software for example ABSS Premier remote access which is the online version of ABSS Accounting software. Such tools or software ensure that meetings, invoicing and financial reporting can be carried out from home.
Reduced staff turnover
Telecommuting is an attractive option for the millennial worker. Statistics have shown that companies that prioritize work life balance have lower staff turnover rate as compared to companies that do not do so. When employees are happy at work, they tend to stay longer at a position and this can lead to cost savings to employers as employers will save on re-training and on boarding costs such as recruitment advertisements.
Going forward, it is likely that telecommuting will be the future for employees with many companies starting to offer it as an option.
