Working From Home? Pros and Cons

10 Apr Working From Home? Pros and Cons

Posted at 11:33h in

Blog

by Becky Brown  •  0 Comments

Working from home has gained popularity in recent years as companies are capitalizing on technology in an effort to strike a balance between productivity and cost-savings. This type of flexibility works for some companies, and not so much for others. In speaking with our clients, we've found it works best if the nature of the work is individual or client service-based, particularly with startups and professional service companies. At KYB, about 40 percent of our employees work from home, and while there are are certain benefits to working remotely, we understand it’s not for everyone.

If you're contemplating letting employees work from home, here are some things to keep in mind:

Benefits:

  • You’ll save on overhead costs because you’ll need less physical space to house your startup team.

  • You’re able to hire qualified employees from a larger candidate pool, especially for professional service companies, because you’re not tethered to a geographic location.

  • Along with saving on gas money, there are also environmental benefits to not having a commute.

  • Time flexibility can contribute to happier and more productive workers.

  • You don’t need to have everyone in the office to handle a problem. Your team can do it remotely.

  • You can spread your services across different timezones, which is great for client-based work that is often around the clock.

  • Employees have solo time to focus on their work without distractions.

Challenges:

  • Working from home requires a certain level of trust and a leap of faith. It’s important to put in place very clear accountability structures.

  • Not all transactions can be done remotely. Specify which transactions can be done safely and securely from employees’ homes.

  • If your startup or company is team-centric and often needs creative brainstorming sessions, working from home may be tough. There’s nothing quite like face-time to build team camaraderie.

  • It is inherently difficult to build a company culture when you’re not hanging out physically.

  • With everyone on different time zones, gathering up a team for a conversation may be difficult.

  • If you decide that you eventually want to have the company at a physical location, it would be burdensome to relocate everyone.

 

Obviously, there are pros and cons to allowing employees to work from home. Whatever you decide, Keeping Your Balance is here for all of your start-up and professional service firm accounting needs. 

 


 

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