As work/life balance becomes a higher priority for professionals worldwide, more companies are offering staff the opportunity to work remotely.
Research commissioned by staffing firm
Larger companies are leading the way in this regard. Of the respondents who work for organizations with more than 1,000 employees, 68% said the number of opportunities to work remotely had increased. Overall, just 3% of those polled said their firm had scaled back flexible working options.
From the employer's point of view, the potential benefits include higher morale and increased productivity Thirtyfive percent of those polled said that the main selling point of remote working options was that they improved morale and retention rates by promoting greater work/life balance among employees. To capitalize on this, the researchers recommend that companies that have flexible working policies actively promote them to both existing and prospective employees.
For another 28% of respondents, increased productivity when staff members don't have to spend valuable time and energy commuting was paramount. Meanwhile, the potential cost savings from reduced office space requirements topped the list of advantages for 15% of respondents.
"I believe one of the most important reasons to support telecommuting is that we, as companies, continually ask more and more of our employees," he said. "Due to the fast-paced environments in many companies, employees are (sometimes! expected to be available to answer questions or assist, and many do connect to email, even when on vacation. They're there when we need them, and we should support them when they need to have flexibility, which telecommuting does," Reichbart said. Hilton requires some employees to keep their phones on at all hours, he said. And while the company does not require that employees keep their mobile devices on when on vacation, many of his team members choose to make themselves available due to the 24-hour nature of the hotel business. "And we are happy to support them when they need to have flexibility for better work/life balance," Reichbart added.
The Value of Trust
Establishing accountability and setting clearly defined expectations as to the amount of work to be generated is vital to making remote working a success, said
The possibilities that remote workers will feel cut off from their colleagues and find it harder to become familiar with the organizational culture are among the commonly cited drawbacks. Collaboration can also suffer when employees don't spend time at the organization's main site.
"It's hard to fill the void of those unexpected interactions where someone is getting a coffee or water or maybe taking a walk outside on your campus," said
To bridge this gap, Morris brings key members of her team together in person once a quarter to discuss goals, priorities, and expectations.
The potential for misunderstandings to arise is also higher when colleagues are not based in the same location.
"There's a real danger with email, instant messaging, and such that you're misinterpreted, because the recipient's not hearing your vocal inflection. They're not hearing the delivery of the message," Nilsen said. "So use the telephone to follow up, or as a precursor to, the message that you're about to send, and say, 'Hey, this is what I'm intending. When you get the email, call me back, and let's talk about it, let's walk through it."'
The original version of this article is available at tinyurl.com/pdbqgqy.
Also on cgmamagazine.org
Venture Capital Booming Again
Venture capital deal activity in key markets soared in 2014 and is projected to stay strong this year, according to EY trend reports.
Last year, venture capitalists invested a total of
"Improving macroeconomic conditions underpinned investor confidence and fueled an active exit and positive fundraising environment, which supported the increase in global VC activity in 2014," EY's 2014 Venture Capital Review stated.
The full article is available at tinyurl.com/q4htf2p.
Inflation Hurts Global Pay Increases
While pay is projected to rise globally at a higher rate than last year, the increase is overshadowed by inflation in emerging markets that is cutting into real wages.
That's according to management consultancy firm
The full article is available at tinyurl.com/qeu2dhg.
Revenue Recognition Concerns Finance Executives
As FASB and the
Nearly one-third of the corporate finance executives surveyed by
In addition to the nearly 51% who cited future regulation as a compliance concern, 22% cited tax compliance, 16% cited navigation of current regulatory compliance, and 11% cited data infiltration and IT security as top concerns.
The full article is available at tinyurl.com/o6mryzk.
|Copyright:||(c) 2015 American Institute of Certified Public Accountants|