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Video conferencing has become so advanced in recent years that the importance of being there in person is falling by the wayside. There is also an efficiency boost as employees, especially managers trying to work with a number of teams simultaneously, will not have to run from meeting to meeting. If anything, this benefit helps the decision-makers more than anyone else. No one enjoys an unnecessary meeting, and this will include your employer.
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Increased Productivity and Performance
An ergonomic workspace is an important pillar of the healthy work life. But many people are missing the know-how to create a more ergonomic environment. Illness, discomfort, and a lack of motivation can be the consequence. And yet, an ergonomically-designed workstation is easy to put into practice. Employees, employers, but also self-employed individuals have to pay attention to some aspects when setting up and running a home office.
Elsewhere, organizations are seeing the value of moving dollars intended for the office to the pockets of workers at home. If you outsource to freelancers there’s no need to provide expensive tech equipment as many work at home and already have their own office equipment. When you switch to a remote work arrangement, you will need an agile management tool designed to help you and your team track who is doing what and the status of ongoing projects. This not only helps you keep tasks on track, but it also provides stakeholders a single destination for monitoring the progress of various initiatives. Both the cost of the clothing itself and the cost of having your fancy two-piece suit dry-cleaned every week.
Estimating the Net Fiscal Cost of a Child Tax Credit Expansion
Stipends are considered income, so it’s important to include them when calculating your employee’s tax liability. So expect that your employee will want a laptop with a bright screen, fast processing power and up to date software. This means that their work stipend should include any necessary upgrades or repairs that are needed as well. As mentioned above, the stipend can cover any reasonable expenses that an employee might have in a WFH setting.
Working from home gives employees their commute time back and allows for a personalized workspace, among other advantages. When practiced correctly, the benefits of working from home are numerous and can lead to a healthier and more productive workforce. Likewise, a quick meeting on the intranet is far more effective than everyone trailing to a meeting room, the meeting taking 10 minutes to start and then running over its time. These benefits of remote meetings make people more productive as they have more time to get the job done.
A Customizable Office
Employers can forget about location and recruit employees from all across the country. The 2020 pandemic forced lots of employees to work from home and collaborate through Zoom. After months of living without commutes, business clothes or makeup, many workers want to keep it that way.
Tech giants like Google announced that their employees may work from home for the foreseeable future. Generally, we see working from home as an added benefit for the employee; there are unexpected benefits that employers are currently reaping from the transition to a remote workforce. You could be surprised by how much you miss the workplace camaraderie, not to mention the interpersonal drama, the office politics, and the ill-advised romances. And don’t discount the benefits of professional collaboration and social bonds forged in the workplace.
Cost saving
Workplaces certainly look different from what they were in 2015 when Stanford University economics professor Nicholas Bloom, a renowned work-from-home-advocate, published the paper “Does Working From Home Work? The COVID pandemic has challenged and changed our relationships with work and how many of us do our jobs. There’s no real going back, and that means policymakers and business leaders need to plan and prepare so workers and firms are not sidelined by otherwise avoidable problems. With a thoughtful approach to a post-pandemic world, working from home can be a change for good.
Depending on the workforce, an employer may find it makes more sense to let some employees work from the office, or let staffers come in a couple of days a week. Many of the benefits – long-distance recruiting, flexible time, and happier employees – will still apply. It may be the employer can move into a smaller, cheaper building even if they can't eliminate the office completely. Renting or owning office space, NPR says, costs money; shuttering office buildings and working from home can represent a huge cash savings. For example, since the pandemic began, Nationwide Insurance has closed five regional offices, telling the employees to work from home.
In addition to personal health and well-being, coworker and manager relationships can be more positive without the distractions and politics that come along with an in-office job. A reported 72% of employers say remote work has a high impact on employee retention—plainly put, employees are sticking with their employer when they have remote work options. During the COVID-19 pandemic, U.S. employers are saving over $30 billion per day by allowing employees to work from home. This major economic benefit of remote work could continue as more companies make it a long-term solution. Many remote jobs also come with flexible schedules, which means that workers can start and end their day as they choose, as long as their work is complete and leads to strong outcomes. This control over your work schedule can be invaluable when it comes to attending to the needs of your personal life.
When first setting up the home office, for example, technical conditions must be clarified. Every employee must also be able to access the same applications, services, and data from home that are available in the normal office. The home office can be regarded as a special kind of mobile office or remote work due to the setting where you perform your work. If the technical conditions are right, an employee can theoretically get their work done from anywhere in the world, as long as a stable internet connection is in place. This is why working from home in the United States is also known as telecommuting, because work is done via telecommunications, including the internet.
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