Talent Acquisition

To Remote Or Not To Remote

The benefits of remote work are without question, but that still doesn’t mean it is best for your company. How do you know if remote work is for you? A number of questions here will help you work through to the answer.

Scott Smeester

//

July 21, 2020

Photo credit:
Bruno Emmanuelle
“What you don’t do determines what you can do.”

— Tim Ferriss

In a decision making process, we often weigh what difference a decision will make moments from now, days from now, weeks from now and years from now. We are looking for the impact, the value and the return.

During the Covid pandemic, remote work became a decision made of necessity, and perhaps one that would not have been made without the necessity. Soon, as reopenings are facilitated, the question will be visited again: Should we go to a remote work model?

Without question, the benefits of remote work are enormous:

  1. Flexibility of schedule: This is the top benefit listed by remote workers, and it pays off for the employer. Studies indicate that a majority of sick leave is taken for life commitments, not for illness, and that unscheduled absences cost employers $1800 per employee per year.
  2. Work from any safe location.
  3. Time with family
  4. Less stress: 55% of employees complain of stress from the commute; 69% of remote workers reported lower absenteeism than non-remote workers.
  5. Productivity increase: Two-thirds of managers reported an increase in productivity by remote workers. Most companies reported an increase in productivity by as much as 45%. Industries report that workplace distractions cost businesses 600 billion dollars per year.
  6. Financial savings: Companies save an average of $22,000.00 per remote employee per year, and save between 10-12 thousand dollars in real estate per remote employee per year.
  7. Increased employee retention: 95% of employers state that remote work has a high impact on retention. They are right. 75% of employees would quit their job to do one that is offered remote; 66% would leave in order to cut their commute time. 36% would take remote over a pay increase, and 37% would take a pay cut in order to do their work remotely.
  8. Other benefits include: Boomer workers retained, environmental friendly, less traffic jams and accidents, aid to crumbling transportation infrastructure, continuity of operations during disaster and potential grants and financial incentives.

Typical concerns about remote work - loneliness, collaboration challenges, distractions and difficulty unplugging have been creatively addressed by companies and generally alleviated. It’s not that remote work doesn’t present concerns, but they have yet to prove insurmountable.

Which leads to the question: Do you transition to a remote-based company where possible?

The following discussions will inform your decision (noting that many companies have divisions that require on-site work).

  1. What are the unique cultural values of your company that are challenged by remote work? What alternatives could satisfy those values?
  2. What strategic initiatives or additional staffing are you able to pursue with the cost-savings of remote work?
  3. What are the clear goals you seek to accomplish in remote work? What are the clear goals you seek to accomplish by not facilitating remote work?
  4. Who is hurt by the decision to remote work?
  5. How much does executive ego drive an office-based mentality? (Ego is not meant as a negative, though it can be and must be addressed. Ego is also a combination of identity and preferences: For example, some like to “lead by walking around” because their identity is a “high touch” leader.
  6. Technology must be in place to support remote work. What current technology deficits need to be addressed?
  7. Mostly, how is our customer better served by remote workers? How are the stakeholders better served by remote workers?

“What you don’t do determines what you can do.” If you don’t remote, what can you do better in order to accomplish the mission. If you don’t office, what can you do better? Therein, of course, are the determining factors.

Alignment Survey

Interested in what CIO Mastermind could do for you?

* Designed for all IT executives and CEOs, CFOs and Board Members

All Article categories

Access Our Library

Thank you!
Please confirm your subscription and add "ciomasterind.com" to your safe list :-)
Oops! Something went wrong. Please try again.