A knee-jerk reaction or the next era of work-life balance?

By forcing organisations to figure out how to make telework succeed, Covid-19 has accelerated the digital shift of the workplace by years. No one could have expected that a global pandemic would be the catalyst for a long-overdue revolution for workplace flexibility. Now organisations are gradually returning to the office with many keeping telework as an option for employees. Business leaders are contemplating their future working models.
So, has Covid-19 been enough of an experiment for organisations to change their workplace flexibility practices and think beyond telework? Here are some areas organisations need to consider in their decision-making process.

Cost savings

Many organisations have realised the potential cost savings of a remote workforce. They noticed the impact it can have on their bottom line. Some organisations are looking to reduce their physical office space to accommodate fewer employees. Organisations considering lifestyle migrants and digital nomads will be looking at salary. Cost savings models deliver lower cost of living in rural areas and countries that support a location-independent workforce.

Wider talent pool

Implementation of a remote workforce strategy can have huge benefits in talent short markets. It also can be helpful for organisations wanting to create a more diverse workforce. When location is no longer a key requirement in the job description, the world can be an organisation’s oyster.

Productivity

In our global survey, 45% of professionals worldwide said their productivity increased while working remotely. It's because of no commute time, fewer distractions and more flexibility in their work schedule. However, as the novelty of telework starts to wear off, organisations are starting to see cracks in productivity. This is due to less face-to-face interactions, diminished social capital and incidental office interactions.

Burnout

Workplace burnout has been exacerbated by Covid-19 and the blurring of lines between work and home. Organisations need to understand the impacts of a remote workforce and develop strategies to support the wellbeing of their employees. Our guide provides advice for combating workplace burnout.

Culture and unity

A major consideration is how to instil and maintain company values and culture. A growing concern among organisations is how to ensure the core values of its success are not lost in the process. However, a loss in physical interaction does not necessarily result in a weakening organisational unity.

Improved work-life balance

Greater workplace flexibility can have positive impacts on employees’ ability to attain work-life balance. For example, working parents can adjust their working schedules to accommodate the children's school events. A happier and healthier workforce can lead to increased productivity and retention. Furthermore, it can lead to a stronger employer brand, making it easier to attract top talent over the competition.