There is plenty of discussion as to whether working from home, commonly referred to by the acronym of WFH, should remain a social norm now that we are emerging from the coronavirus pandemic. There are good arguments on both sides of the debate. However, a careful analysis of the arguments reveals the benefits of employees working from home or in places other than a traditional office cubicle outweigh the relatively minor drawbacks. Here’s why.
Remote Employees are Productive
It is not surprising that remote work is a hit with employees. Though some employees prefer to work in a traditional office for communication and social purposes, the truth is the vast majority of those who work for outsourced accounting services and in other roles prefer to work away from the office.
As a result, remote work has exploded in popularity among workers, even prompting some employers to offer the option of working remotely as an option in an attempt to win the hiring battle for new “rainmaker” employees.
The solid productivity of those who work remotely came as a bit of a surprise for some business owners and managers. There was a general assumption that working remotely had the potential to improve worker satisfaction yet potentially stifle productivity. Now that it is clear that remote work does not compromise the bottom line, more employers are reluctantly accepting the fact that large offices with cramped cubicles are unnecessary. Remote productivity as quantified by WFH statistics makes it perfectly clear that employee productivity has actually increased in some situations as a result of the shift to remote work.
As an example, consider a 9-month-long study conducted by Stanford that reviewed 16,000 employees. The study found that working from home boosted employee productivity by more than 10% while hiking employee retention rate by more than 50%. The decrease in turnover alone has the potential to make a potential shift to remote work quite appealing for businesses of varying types.
Another survey revealed more than three-quarters of those who work remotely or even merely part of the time proved more productive with nearly one-quarter getting more done at work than would have been possible in the same amount of time in the office. Furthermore, nearly one-third of those surveyed stated they accomplished more in fewer work hours while at home than in the office.
Why did the WFH Shift Result in a Productivity Boost?
At the moment, academics and other researchers studying the surprising boost in productivity after shifting to WFH are unsure as to why it is occurring. However, most who analyze the uptick in productivity resulting from the shift to WFH point to the adoption of new and advanced technologies for communication shared between employees.
It is now possible to engage in a videoconference with colleagues, clients, and others in mere seconds. WFH employees are collaborating with one another in group chats on web message boards, chat rooms, and elsewhere online. Add in the fact that those who work remotely can interact with their kids, pets, and other loved ones throughout the day as necessary and it is that much easier to understand why the transition to WFH has proven mutually beneficial for employees and employers.
Maximizing the Use of Time
If you have worked in an office, take a moment to consider the amount of time you spent engaging in small talk by the cooler, while standing by another person’s cubicle, in the lobby of the building, etc. If you are like most people, you spend about 45 minutes or even more engaging in small talk that doesn’t have much to do with work.
The reduction in water cooler talk resulting from the shift to WFH is a positive for employers as it means employees will spend less time discussing non-work subjects while on the clock. Meetings that take place online are also that much more efficient than those that occur in real life as they aren’t nearly as stressful as in-person meetings.
The Never-ending Benefits of Virtual Outsourced Accounting Services
If you are still on the fence as to whether outsourced accounting services make sense for your business, consider the fact that the vast majority of those who make the transition away from traditional accounting is quick to admit the positives of the transition continue to emerge as time continues. Give outsourced accounting services a chance and you’ll notice benefits right off the bat yet you’ll also discover additional savings and other benefits of outsourcing the work to a full team of accounting professionals.
At AccountingDepartment.com, we've been a fully remote operation since our inception. Our remote team is spread around the United States and is always ready to serve our clients. We offer a family-first approach to staff and give them the flexibility they need to have a true work-life balance.
Contact Our Virtual Outsourced Accounting Services Today
Our outsourced accounting services are available to business owners and managers. If you own or manage a business or make the decisions in regard to accounting duties, consider the merits of outsourced accounting services. We’re also interested in discussing potential remote accounting careers for those looking for employment. Contact us today to learn more and see how ADC can be the help you need for accounting or the next career path for you!