Running a business means juggling a wide variety of incoming costs. There are supplier costs, staff salaries, loan repayments, office rent, phone and broadband contracts, equipment costs...the list goes on and on.
But what if you could do away with one of these major costs for good? By getting rid of physical office premises and having employees work from home, businesses can save a large amount of money, which can then be invested back into the business.
Of course, working from home won’t be for everybody, but for many small businesses with limited staff numbers, the cost of renting office space to house everyone is simply more than it’s worth.
Many employers are still reticent about having employees work from home – they feel that they need to keep their staff under their watchful eye to ensure that work is getting done. But in the case of most modern jobs, it is very easy to tell whether an employee is performing adequately – if the work they’re assigned is not getting done, then chances are they’re not performing to the job requirements! Instituting regular employee reviews will not only ensure that your employees are performing up to par, but will also help to instil a company culture of continuous improvement.
There are some benefits that come with having a physical office premises, such as having a space to host clients for meetings, and having a central point where employees can meet and bond. However, most major cities have growing numbers of serviced offices, which businesses can rent out for short periods of time to host client or employee meetings. And with teleconferencing and instant message communication tools, you can create a virtual office every bit as social and productive as a physical office.
Before abandoning your office lease and sending your employees home, though, there are a few points to consider. First off, your employees will need to have access at home to the same office tools that they would at work. This includes an
office phone and broadband connection, reliable computers, phones, printers and faxes, and a space where they can work comfortably and free from interruption.
Health and Safety legislation also covers home working environments in the same way as it does offices. This means that you will need to carry out Health and Safety inspections and risk assessments of your employees’ home offices, and ensure that your insurance coverage extends to these home working environments. Your national government authority can provide more in-depth information on health and safety and business insurance requirements.
These issues aside, though, ditching your physical office space for a home office can be rewarding for both your business and your employees. For employees, it means more flexibility with their working hours and less time spent commuting to and from work, while for your overheads, it means more money coming in and less going out – a sure benefit for any business!
Paul Buchanan writes for a digital marketing agency. This article has been commissioned by a client. This article is not designed to promote, but should be considered professional content.
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